What is the process of buying a car with a credit card loan?

With the popularity of credit card loans, more and more people are choosing credit card loans to buy cars. So what are the ways to buy cars with credit cards? What information is needed for a credit card loan to buy a car?

1. How to buy a car with a credit card loan

There are two ways to buy a car with a credit card loan. One is to buy a car from a car dealer that cooperates with a bank; After signing a car purchase contract or agreement, the dealer will apply for a loan to the bank; the other is to directly apply for a loan at a bank outlet. After signing the loan contract with the bank, the dealer can choose a car dealer to buy the car of his choice.

2. Characteristics of credit card loans to buy a car:

1. The limit of using a credit card loan to buy a car is limited, and the maximum limit of a credit card loan is 200,000;

2 , Some banks have requirements for the card holding period of credit cards;

3. The car models available for credit card loans are limited;

4. No interest is charged, only handling fees

3. Information for credit card loan to buy a car

1. Fill in the loan application form;

2. Valid identity document of the lender, proof of occupation and income, and basic family situation;

3. The certificates or documents required for the lender’s guarantee. When applying for a loan through a dealer, you must also provide a car purchase contract or agreement;

4. Other conditions required by the bank.

4. The process of buying a car with a credit card loan

1. After the cardholder selects the car to buy, the dealer will confirm whether the car model is within the scope of the credit card loan purchase;

2. The cardholder applies for credit card installment by telephone;

3. Bank staff will review the application submitted by the borrower;

4 , after approval, sign a loan agreement with the borrower;

5. The bank transfers the money to the car dealer's account;

6. The cardholder handles the car mortgage registration and other procedures;< /p>

7. The cardholder can pick up the car and use it.

What’s the credit limit for a 200,000 car loan? Related to these factors

Nowadays, although many people have not bought a house, they have bought a mobility scooter and become a car owner. They also want to apply for a credit card, but they want to know whether there is a relationship between the credit card limit and the value of the vehicle. For example, Let’s find out what credit card limit can be applied to a car worth RMB 200,000.

What’s the credit limit for a 200,000 car loan?

It is often recommended that people who own houses and cars can apply for a card through bank branches, because real estate and car properties are proof of financial resources and can reflect the applicant’s assets. People with assets can apply for a card with a natural credit limit. The limit is higher than that of people without assets. Although the value of the vehicle is somewhat related to the approved credit limit, it plays a big role.

After all, when people with cars apply for credit cards, they do not use the vehicle mortgage as a guarantee. No matter how high the value of the vehicle is, it has nothing to do with the bank. After all, what banks consider most when approving a card is the applicant’s income, spending power, and repayment ability. Otherwise, even if the value of the vehicle is high, but the applicant's repayment ability is not good, the bank will have certain risks in approving the card and will not easily approve large-value cards.

In addition, the 200,000 car credit card limit is also related to the credit card level you want to apply for. After all, banks set different limit ranges for different levels of credit cards, among which the regular card has the lowest limit and the gold card has the middle limit. , Platinum cards and above have higher limits.

To sum up, the key to the 200,000 car credit card limit depends on the applicant’s credit conditions, especially the repayment ability. If the applicant has a relatively high income, good credit, and can provide sufficient proof of financial resources In this case, it is basically no problem to provide a vehicle driving license to the bank to apply for a card with a card approval limit of 50,000 yuan. Of course, it doesn’t matter if the limit is too low. It’s easy to increase the limit by developing good card usage habits.

What is the best way to get a loan for a car worth RMB 200,000?

1. Apply for a mortgage loan: If you use the car in your name as collateral, the loan amount is generally 70% of the vehicle's own valuation - 80%, professional mortgage car loan companies can get up to 90%. If you want a loan of 200,000, the car is estimated to be around 300,000. The higher the price, the better. When applying for a loan, you need to prove that you already own the property rights of the vehicle. You need to provide Driving license, vehicle and vessel tax, insurance policy and other information.

2. Apply for a credit loan: To apply for a credit loan, you can choose to go to a bank, but the bank's requirements will be relatively high. They generally require a stable job, stable income, a good workplace, and good credit. For civil servants, or For applicants who work in public institutions, going to a bank is a good choice.

A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car. Car consumption loans are a new loan method that banks issue RMB-guaranteed loans to car buyers who purchase cars at their authorized dealers.

The interest rate of automobile consumer loans refers to the amount of loans issued by banks to consumers, that is, borrowers, for the purchase of personal cars (non-profit family cars or commercial vehicles with 7 seats (inclusive) or less) Ratio to principal. The higher the interest rate, the greater the repayment amount the consumer will have to pay.

Car loan channels

1. Auto finance companies: The biggest advantages are convenience and low threshold. Companies are generally established by investment from automobile companies. Its "convenience" is not only reflected in the fact that you can apply directly through the 4S store, but also in that it does not require hard conditions such as household registration and real estate.

2. Credit card installment car purchase: The most significant advantage is the loan interest rate, which is half lower than the traditional bank car loan interest rate. You can apply for all common credit cards, and the models are cross-brand, so you have a wide range of choices. The premise is that you need a higher credit limit to enjoy it.

3. Bank car loans: Banks are under pressure from the tightening of credit scale. Consumer loan businesses such as car loans have shrunk significantly, and the loan doors for some mid- to low-end cars have been temporarily closed. The biggest advantage is that there is a wide range of choices. After car buyers choose a car model, they can go directly to the bank to apply for a personal car consumer loan.

However, the procedures for loan qualification review are very complicated. Generally, real estate (such as real estate) needs to be provided as collateral. Some banks offer it online for high-end customers or high-end models, and the car itself can be used as collateral. However, compared with other banks, Car loan approval takes a long time.

In terms of loan interest rates, car mortgage loan interest rates are generally about 10% higher than the bank's benchmark loan interest rate for the same period. Most car loan businesses require a guarantee from a guarantee company or the purchase of car warranty insurance, and car buyers also need to bear a guarantee fee of 2.5% to 3%. Adding up all the handling fees, the comprehensive cost of a bank car loan is the highest among the three methods.

What should you pay attention to when purchasing a car by credit card installment?

Credit card installment car purchase is a kind of credit card installment business of banks. The credit card limit that cardholders can apply for ranges from 20,000 to 200,000. There are three types of installments: 12 months, 24 months, and 36 months. The credit card installment car purchase business has been loved by consumers for a long time, and installment car purchase has become the first choice for many people. So what should you pay attention to when purchasing a car by installment using a credit card?

1. First choose the car model

Credit card installment car purchase has certain limitations. Not only is the limit limited, it only supports the purchase of mid- to low-end models below 200,000 yuan, and it is only available to banks and Designated models for dealer cooperation. Therefore, choosing a specified car model is the first task that every car owner should do.

2. Understand the credit limit

Although the minimum down payment ratio for a credit card installment car purchase is 30% of the bare car price, not everyone can obtain 70% of the loan limit. Generally speaking, the card-holding bank will grant you an appropriate loan amount based on your personal qualifications. Therefore, before deciding to choose the credit card installment method to purchase a car, cardholders should call their bank to understand their credit limit.

3. Understand the handling fee

For the installment car purchase method with credit card, although the bank will not charge interest, it will charge interest in the form of handling fee. In terms of fees, generally the handling fee for 12 periods (months) is between 3% and 5%, for 24 periods (months) it is between 4% and 7%, and for 36 periods (months) it is generally more than 9%. In addition, the credit card installment car purchase fee is usually paid in one lump sum when paying the down payment and the first monthly payment.

4. Repay on time

Personal credit has become people’s intangible assets. Car owners should pay attention to the accumulation of personal credit during the loan repayment period. Only by repaying the money on time and in full will they be able to It will not be difficult to borrow again when you need a loan in the future.

Is there a limit for using a debit card to buy a car in a 4S store? For example, if I buy a car worth 200,000 yuan, is there a limit to using a debit card?

No, as long as it is a regular 4S store or car dealership, the POS machine is special and is not subject to the limit of its own debit card and can be used normally, but a handling fee may be charged.

The financial staff of a 4S store said frankly that in the past, the handling fee for purchasing a car with a credit card was almost 80 yuan, and this fee was borne by the 4S store itself. But now there is no cap on the 0.6% rate. If the card is swiped for 100,000 yuan, the handling fee is 600 yuan. If the card is swiped for 300,000 yuan, the handling fee is 1,800 yuan.

If customers all choose to use credit cards, a 4S store will have to pay tens of thousands or even hundreds of thousands of yuan in handling fees over the course of a year. For 4S stores, their own profits have become thinner and thinner, and high handling fees are indeed unbearable, so this increased cost can only be transferred to consumers.

Extended information

Article 12 of the "Management Measures for Bank Card Acquiring Business" stipulates:

The cardholder shall not be charged for using the bank card. Others may charge additional fees or reduce service levels in disguised form.

Article 17 stipulates: Acquirers shall collect settlement fees from special merchants in accordance with relevant regulations, shall not pass on settlement fees to cardholders in disguise, and shall not use unfair competition methods to harm the legitimate rights and interests of others. Therefore, if a merchant passes the handling fee to the consumer, it should be a violation, and the consumer can complain to the People's Bank of China or UnionPay.

People's Daily Online - I used a credit card to buy a car but was charged a "handling fee" by the 4S store

Can I get a loan to buy a car with a credit card? Don't be harmed by bad credit reporting

Banks issuing credit cards not only provide cardholders with overdraft funds, but also provide some installment services, which can alleviate certain financial pressures on cardholders. However, certain fees must be paid to the bank to handle these services. Many people ask, can I get a loan to buy a car with a credit card? In fact, a credit card loan to buy a car is the car installment business of a credit card. So can I get a loan to buy a car if my credit card is overdue? Specific issues must be analyzed in detail.

Credit cards can be used to finance car purchases

Credit card loans to buy cars are actually a kind of credit card installment business provided by banking institutions. The credit limit that cardholders can apply for is generally between 20,000 and 200,000. Ah Jin, there are three types of installments: 12 months, 24 months, and 36 months. There is no loan interest rate for credit installment car purchases. The bank only charges handling fees. The handling rates for different installments are different.

You can get a loan to buy a car with a credit card, but the card-issuing bank generally requires the cardholder to provide additional proof of financial resources, including a real estate certificate or a commercial housing sales contract and a purchase invoice. Some banks require the credit card itself to have 100,000 yuan. -An overdraft limit of 200,000 yuan. Some banks allow cardholders with good credit to apply for a separate credit line to purchase a car in installments.

Limitations on how to get a car loan if your credit card is overdue

Many people carelessly forget to repay when using their credit cards, resulting in overdue payments. This situation generally has little impact on the loan. . As for serious and malicious overdue behavior, banks will not tolerate it and will directly put them on the blacklist. If you want to get a loan to buy a car again, you will have to wait until the bad credit record is eliminated in 5 years.

If your credit card is overdue, you can get a loan to buy a car, but you cannot exceed these three points:

1. The total overdue amount is less than 1,000 yuan;

2. The overdue amount has not been exceeded continuously. More than 90 days;

3. Within two years, no more than 6 overdue payments shall be made.

In addition to the above three items, the cardholder is also required to go to the bank to issue a non-malicious debt certificate and submit it to the bank when applying for a loan.

Notes on credit card loans to buy a car

1. The down payment for a car cannot be paid with a credit card;

2. If you want to repay the installment in advance, the handling fee is non-refundable

3. Some bank credit card car purchase fees need to be paid in one lump sum during the first installment;

4. Vehicles purchased by credit card installments must be fully insured. For car theft insurance and vehicle loss insurance, the insurance period is consistent with the installment period.

That’s it for the introduction to buying a car with a credit card with a limit of 200,000.