Why Can't I Pick Up the Car Even Though the Auto Loan Has Been Approved?
1 Answers
It might be due to high demand for this particular vehicle. Here is some relevant information: Auto Loan: An auto loan refers to the loan issued by a lender to a borrower for purchasing a car. Essentially, it means borrowing money from a financial institution to buy a car. However, financial institutions require the buyer to pay a certain percentage as a down payment and provide proof of repayment ability, along with a clean credit history. Only by meeting the financial institution's requirements can one qualify for an auto loan. Interest-Free Loan: An interest-free auto loan is a promotional financing scheme offered by dealers based on market demand, which to some extent reduces the financial burden on consumers. However, not all car models are eligible for interest-free auto loan promotions, as there are certain restrictions in place.