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 don't have the money to buy a car, you want to pay by credit card, and then pay back the credit card in installments, which is 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.

Is it cost-effective to buy a car with a credit card or a loan?

Compared with buying a car with a credit card, it is more cost-effective to borrow money to buy a car. At present, the annual interest rate of car loans is generally around 3% to 5%, while the comprehensive annualized interest rate of credit card installment fees is generally around 9%, resulting in nearly doubling interest expenses.

The process of buying a car with a loan is as follows:

First, book a car. Book the car first, then take the loan process, and negotiate with the 4S shop for specific preferential policies.

Second, submit the loan procedures. Usually need: husband and wife identity certificate, driver's license, marriage certificate, real estate license, income certificate, bank running water and other information.

Third, waiting for approval. After the loan procedures are submitted, the bank/vendor finance/third-party finance company will examine and approve the loan applicants' qualifications, which are usually divided into online examination and approval and offline examination and approval. Online approval generally calls the loan applicant; Offline approval is generally a home visit, and it will only be taken if the loan applicant's qualification is not very good.

Fourth, pay the down payment. After the loan is approved, it is necessary to pay the down payment to the 4S store first, and then the 4S store will issue a receipt for the down payment and give it to the bank/finance company for loan.

5. borrow money to pick up the car. Banks/financial companies will lend money to 4S shops or loan applicants, so that they can issue insurance invoices to pick up their cars normally.

What should I pay attention to when buying a car with a loan:

1. When all formalities are completed and the car is ready to be picked up, the car dealer requires the consumer to pay a certain amount of cash on the basis of the original car payment before picking up the car. The dealer will give many reasons, such as the price increase of the car during the full payment period, or the failure to complete some formalities within the specified time. Don't be fooled by them.

2. Remind you that before buying a car, you must choose and understand the formal automobile sales and automobile finance guarantee companies to handle the business in automobile mortgage, and conduct on-the-spot investigations to get to know the reputation and strength of the mortgage and sales companies through various channels.

At present, some car dealers take advantage of consumers' lack of legal knowledge to deceive consumers into signing blank contracts. However, after the completion of consumer loan procedures, when consumers saw the credit contract, they found that the loan amount was different from the previously promised price.

4. At present, some dealers have introduced interest-free car loans to attract customers. The actual discount may not be as affordable as expected, because they will charge a certain handling fee while being interest-free, and the cost of this procedure may be similar to the interest, so it is necessary to carefully screen the car according to the actual situation.

5. Because the owner of the car is not an individual consumer until the loan is settled, in order to reduce the risk, the dealer will generally put forward some auto insurance that must be purchased as the loan condition in the car loan contract.

Is it appropriate to buy a car with a credit card overdraft or a car loan?

The key is to see how soon you can return it. You know, if you take out a loan, the interest sounds a lot. In fact, if converted into days, the interest is not very high, but credit cards are not. Calculated by the day, the daily interest is five ten thousandths, which is converted into interest of more than 20% per year. If it is in installments, the annual interest is higher than the car loan. On the face of it, I did the math.

Moreover, the credit card must pay 10% of the arrears every month, otherwise it is called a fine of 5%.

Generally speaking, if you can pay it off within a month or two, it must be a good credit card, otherwise it is a good car loan.

In fact, according to my habit, I will definitely apply for a car loan. This year, the capital market is picking up, so I will stay in my hand and send it at the end of the year. Buying some funds in the middle to earn some money is also a big supplement.