Can I buy a car with a credit card?
With the gradual popularization of credit cards in people's lives, many people's consumption patterns have also changed, and consumer goods within any quota can be transformed into phased models. As a special kind of consumer goods, after a period of exploration, banks have successively introduced policies that are more suitable for users' needs. So, can I buy a car with a credit card? This is a concern of many people who want to buy a car. Then can I buy a car with a credit card? The answer is yes. The following financial network details the credit card installment car purchase.
Scope of application of credit card to buy a car
Due to the limited credit limit of general credit cards, the issuing bank will generally require the cardholder to provide proof of financial resources. The sources of funds recognized by the bank include real estate license or commercial housing sale (pre-sale) contract, purchase invoice, etc. Some banks require a credit card overdraft limit of 654.38 million to 200,000 yuan, and some banks allow cardholders with good credit to apply for credit lines to buy cars in installments.
Obviously, with the demand of customers, there will be more and more banks in the national credit card installment car purchase business. There are China Construction Bank's Longka installment car purchase business, China Bank's "Car Loan Link" business (Beijing only), China Merchants Bank's "Car Easy" business, Minsheng Bank's "Car Link" business, China Industrial and Commercial Bank's Peony Card installment car purchase business, and some local city commercial banks' installment car purchase business, such as Hankou Bank and Bank of Ningbo.
However, each bank has its own threshold: China Merchants Bank has to pay more than 30% down payment before it can be phased, while ICBC says it can be phased in full. Some banks can also get zero handling fees for some models. In addition, different models have different installment rates in different periods, and some banks only have designated models for installment.
Buy a car by installment with a credit card
Car purchase by credit card installment is the credit card installment business of banking institutions. The credit limit that the cardholder can apply for is 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no expected annualized interest rate for credit installment car loans, and banks only charge fees, with different installment rates.
Credit card car purchase process
(1) filing an application. After you choose the car you need to buy, you need to go to the bank to fill out an application form for car consumption loan, a credit survey form and provide your personal income certificate;
(2) The bank conducts pre-loan investigation and approval. If you meet the requirements of bank loan, the bank will inform you to fill in some forms according to the contact information you provide;
(three) notify the borrower to sign the loan contract, guarantee contract and mortgage contract, and go through the mortgage registration and insurance procedures.
(4) Loans issued by banks (directly transferred by banks to the account of automobile dealers).
(5) The borrower pays the down payment to the dealership, and goes through the formalities of car pick-up according to the bank car pick-up slip and other documents.
Wealth management network reminds: the down payment for car purchase cannot be paid by credit card; The handling fee of CCB's credit card car purchase needs to be paid in one lump sum at the first repayment; If you want to repay the loan in installments in advance, the handling fee will not be refunded; Vehicles purchased by credit card in installments must be insured against vehicle theft and vehicle loss, and the insurance period is consistent with the installment period.
Is it worthwhile to buy a car with a credit card?
Is it worthwhile to buy a car with a credit card? How about buying a car with a credit card loan? Nowadays, the development of science and technology makes life so convenient, and major banks also provide convenience for users as one of the main places.
Compared with other car loan methods, buying a car by credit card has its own advantages. There are two credit card modes for buying a car by credit card: one is to pay in full by credit card and then apply to the bank for bill installment. The premise is: your credit card is enough to pay for the car. Second, most car dealers support buying a car by credit card, but the difference is that the banks designated for cooperation by stages are different, so be sure to ask the merchants before buying. The bank credit card you hold can buy a car by stages.
The credit card installment car purchase method has the advantages of convenient application process, low threshold and lowest handling fee, but the choice of car loan method should be based on your own situation.
For example, you take a fancy to a car with suitable performance and style in all aspects, and the car price is 6,543,800 yuan. Then, after applying for credit card installment and paying 30% of the car down payment, you will borrow 70,000 yuan within three years, and you will have to pay back the interest of about 8,400 yuan.
However, if this 70,000-yuan credit card installment fund is put in the bank or invested, at the current expected annualized interest rate level, even if it is calculated on a three-year basis, there will be interest of about 8,900 yuan at maturity. The difference between the two is nothing more than that credit cards need to pay interest first and repay monthly. So after careful calculation, it is not uneconomical to buy a car by credit card in installments.
Can I use a credit card when I buy a car?
You can buy a car with a credit card. At present, there are two ways to buy a car by credit card:
1. It's convenient to buy a car by installment with a credit card, and the threshold is still low. You can apply at the car loan dealer.
2. Pay in full by credit card. After payment, you can apply to the bank for installment repayment according to your own economic situation.
In addition, full payment requires that your credit card limit be higher than or equal to the car price.
Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.
The credit card stipulated in the relevant laws of our country (Interpretation of the Provisions of NPC Standing Committee on Credit Cards) refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc.
20 17 12 1 The English Translation and Writing Standard for Public Service was formally implemented, which stipulated that the English name of CreditCard was Credit Card.
Credit card consumption is a non-cash transaction payment method, which does not need to pay cash when spending, and repays on the bill date.
Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay. Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards.
From the date of 202 1 1 1, the credit card overdraft interest rate is determined by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of the credit card overdraft interest rate is cancelled (the original upper limit is 0.7 times of the daily interest rate, and the lower limit is 0.7 times of the daily interest rate).
Credit cards are generally plastic cards with a special carrier, with a length of 85.60 mm, a width of 53.98 mm and a thickness of1mm. The name of the card issuer, the expiration date, the number and the name of the cardholder are printed on the front, and the chip, magnetic stripe and signature strip are printed on the back. Cardholders can use credit cards to shop, spend money and deposit and withdraw cash from banks.
Can I use a credit card when I buy a car?
Answer:
Yes, but it should be noted that you don't buy a car directly by credit card. It is best to buy it by car loan, usually by credit card.
To handle this kind of business, taking the e-flash loan of China Merchants Bank as an example, I need to promise that the proceeds will only be used for consumption (including but not limited to decoration, home appliances, weddings, car purchases, etc. ), shall not be used in non-consumption and investment fields. These cars can be loaned quickly, so it is enough to consider the repayment time and amount in line with reality.
Buying a car by credit card depends on your financial situation. If you have money to buy a car or make a down payment, you can swipe your credit card first and charge an extra month's interest.
If you have no money to buy a car, you want to pay by credit card and then pay it back in installments. It's not cost-effective. At present, most car dealers can apply for interest-free loans for two years, with a maximum loan of 70%. Why pay interest by credit card in installments?
If you pay the down payment on a car with a credit card and then take out a loan to buy a car, because you don't even have a down payment, you need to pay the down payment with a credit card.
First, you can buy a car with a credit card. There is no doubt about it.
Secondly, regarding the minimum down payment ratio, it can generally reach 30% down payment, and some can reach 20%.
If you want to borrow money to buy a car, it is suggested that you can choose some car brands with preferential loans, such as Skoda's 2-year 0 interest rate. That will save a lot of interest. Because of the general loan, the interest is at least 10 thousand to 20 thousand.
But another thing you need to know is that the down payment ratio is only the ratio of the bare car price. Other purchase taxes, insurance, licensing fees, etc. All need to be paid in cash.
If the down payment ratio is 30%, the naked car needs to pay 30,000 yuan in cash, as well as the purchase tax plus insurance, plus the loan handling fee. Almost 20 thousand yuan, so the down payment needs 50 thousand yuan This needs to be understood in case the budget is insufficient.
Finally, a loan to buy a car must be based on your own income. Don't let the loan repayment bring too much pressure to your life, which will be counterproductive.
Generally speaking, 4S stores allow tens of thousands of credit cards.
Generally speaking, 4S stores allow you to swipe100000 credit cards.
Regular 4s shops or car shops have special pos machines. They are not limited by the credit limit of their debit cards and can use them normally, but they may charge a handling fee. Generally, they can use a credit card with a credit limit of100000 yuan.
It should be noted that the current 0.6% is not capped. If the credit card is RMB 654.38+10,000, the handling fee is 600 yuan; if the credit card is RMB 300,000, the handling fee is 1.800 yuan.
Rules for buying a car and swiping a card in a Mercedes-Benz 4s shop
1.4S store enjoys the "interest-free and fee-free" car purchase discount of credit card:
Credit cards are free of interest. Banks are only responsible for lending, and there is no capital loss. Here, the 4S shop mainly gives discount interest, which should be paid by the cardholder and directly returned to the bank, but this interest rate is the discount rate negotiated between the 4S shop and the bank, not the market open loan interest rate we see;
At the same time, 4S stores will not do business at a loss. Although the loan is promised by installment with 0 interest rate and 0 handling fee, it will generally impose restrictions on the car purchase price. For example, if you buy a car in full, you can enjoy a discount of 1 1,000 yuan, and you can only enjoy a discount of 5,000 yuan in installments, or there is no discount at all, only according to the guide price; Or ask for compulsory purchase of auto insurance in 4S stores, and earn back the loss of loan interest through the high rebate of insurance.
2.4S shop designated models, enjoy the credit card "zero interest rate" installment car purchase:
Advertise "zero interest rate" of credit card installment, but don't say "free". In fact, this is just a gimmick, in which banks play a leading role, and the annualized interest rate of credit card installment loans is above 15%; As a tourist source, the 4S shop only provides bank installment loans for those customers who have insufficient funds to reach a car purchase transaction.
3.4S stores can purchase cars by stages, and the designated models are "interest-free, with preferential handling fees":
Similar to the second article, except that cardholders can enjoy a more favorable handling fee rate, which is also the result of the game between 4S stores and banks.
4.4S shop designated models, 30% down payment, zero interest and zero handling fee, and credit card installment loan will be paid off in one year:
This situation mostly happens in some designated models, or they are not selling well, or the car purchase price is relatively high. On the one hand, 4S stores allow customers to pay only the down payment, generally 30% of the car purchase price, and the rest can be paid in one lump sum within one year. If it is delayed, it will be deducted; In addition, this kind of superficial discount, although the 4S shop has not tampered with the car purchase, often requires full insurance in our shop, and some attached gifts will be quietly detained.
5. Cardholders normally use credit cards to buy cars, and then apply for installment payment:
In this case, it needs to be established on the premise that the cardholder's credit card limit is sufficient. Generally, buying a car is a large consumption, and the amount of thousands or tens of thousands is simply not enough; Moreover, banks are generally willing to accept this kind of installment, because cardholders can't enjoy the discount of 0 interest and 0 handling fee, and they must pay a real handling fee.
How to buy a car with a credit card? Is it cost-effective to buy a car by installment with a credit card?
Of course, you can buy a car with a credit card. Now many 4S stores have cooperation with many banks. Even if you don't have a bank credit card, as long as you select a vehicle, the 4S store will help you apply for a bank credit card on the spot, and then apply for a loan according to the car amount and specific offers. A down payment of 30% is much cheaper than traditional corporate loans and car dealership loans, and the process of buying a car with a credit card is very fast.
There are two ways to buy a car by credit card: one is to pay in full, and then apply to the bank for bill installment. Of course, this also requires that your credit card limit is high enough. Second, most car dealers support buying a car by credit card without paying interest and paying the corresponding installment fee.
Because of the high car price, the first way is basically not feasible, and the second way is more affordable. Compared with buying a car with bank loans and loans from auto financing institutions, buying a car by credit card in installments has no interest. Of course, the so-called zero expected annualized interest rate has to pay some fees. However, for lower costs, it is a better choice than the other two loan methods, in which the expected annualized interest rate exceeds 65,438+00%. Rong 360 sorted out the handling fees of several banks' credit card loans to buy a car for cardholders' reference. Agricultural Bank of China has the most favorable handling fee, with the handling fee rates of 12, 24 and 36, and ICBC 12, 24 and 36 are 5%, 8%, 1 1% respectively. The installment procedures of China Bank 12, 24 and 36 are 4%, 8% and 12% respectively. The installment fees of China Merchants Bank 12, 24 and 36 are respectively, and the installment fees of Minsheng Bank 12, 24 and 36 are 17% respectively.
In addition to the expected low annualized interest rate, fast approval is also an advantage of credit card installment. Some banks can complete the approval of credit card loans in 40 minutes at the earliest, and the longest time will not exceed 3 days. Moreover, most credit card banks have credit card swiping activities. After buying a car, you can also redeem the corresponding bonus gifts at the bank, which can be described as killing two birds with one stone.
However, if the credit card loan is less than the full installment, the cardholder generally needs to pay a certain down payment, usually 30%. Of course, the credit card purchase amount is not very high, which is more suitable for buying middle and low-end cars.
So much for car dealers' introduction to credit card swiping.