What are the handling fees for using a China Merchants Bank credit card loan to buy a car? These two expenses are essential!

To buy a car with a China Merchants Bank credit card loan, you need to pay a fixed handling fee, which is related to the cost of capital and operating costs. However, for some models, there is a discount of zero handling fee in installments. So, under normal circumstances, what fees do you need to pay for a credit card loan from China Merchants Bank? Let’s learn about the relevant content about China Merchants Bank’s credit card loan car purchase fees.

Chinese Merchants Bank credit card loan car purchase handling fee

1. Reasons for charging fees

If you apply for China Merchants Bank credit card loan car installment business, it will include capital costs and Operating costs, these two items will generate a certain installment fee. China Merchants Bank's installment handling fees include a one-time collection model and an amortized collection model. The one-time collection model will pay all handling fees at once in the first period, so even if you repay in advance, the installment handling fees cannot be reduced.

2. Handling fee calculation formula

Instalment handling fee = installment amount × installment handling rate. Handling fee will be charged monthly based on your number of installments.

3. Handling fee installment rate

12 periods 5.5, 24 periods 10.5, 36 periods 14.5, each model supports 0 handling fees in installments.

3. Handling fee apportionment model

The fixed total fee will be distributed in equal amounts to each installment (month). If it cannot be divisible, it will be rounded to two decimal places. The remaining handling fee will be charged once a month.

The installment fee for China Merchants Bank’s credit card loan is 5.5 for 12 installments, 10.5 for 24 installments, and 14.5 for 36 installments. Compared with traditional car loans, the rates are still somewhat preferential. However, it should be noted that as a bank credit card loan to buy a car, the loan record will definitely be submitted to the credit report, and the repayment record of each period will also be recorded. Therefore, it is recommended that everyone repay the loan in time and maintain a good personal credit report. .

Introduction to hot reading:

How much is the processing fee for China Merchants Bank’s credit card loan? The higher the installment number, the higher the handling fee!

What is the interest rate of China Merchants Bank’s credit card installment loan? The minimum handling fee is 0.75

How to get a car purchase with China Merchants Bank credit card loan (conditions, process, interest rate)

Not only does the rate for car purchase with China Merchants Bank credit card loan be lower, but some models can also enjoy 0 fees Rate discounts. How to get a car purchase with a China Merchants Bank credit card loan? I will give you a comprehensive introduction to how to handle the China Merchants Bank credit card car installment business from the conditions, procedures, and interest rates of car purchases with China Merchants Bank credit card loans.

Chinese Merchants Bank credit card loan car purchase conditions

1. Persons in mainland China;

2. Natural persons with full capacity for civil conduct;

3. Aged between 18-60 years old;

4. No serious bad credit record from banks or credit institutions;

5. Have a legitimate and stable job or income.

(Warm reminder: You can apply for a loan only if you meet the loan conditions, but whether you can successfully handle the car installment business depends on whether the bank has approved the lender's business qualifications)

China Merchants Bank Credit Card Loan Car Purchase Process

1. Make an appointment online and submit the loan application amount

2. Wait for bank staff to contact the lender to process the loan application

3 , Waiting for the bank to review the borrower’s qualifications

4. If the review is passed, the lender will pay the down payment for the car and purchase insurance

5. Pick up the car after the bank provides the loan

China Merchants Bank Credit Card Loan Car Purchase Interest Rate

1. Some models support 0-installment rate discounts, so handling fees are waived.

2. The standard handling rates for China Merchants Bank’s automobile installment business are 5.5 for 12 installments, 10.5 for 24 installments, and 14.5 for 36 installments.

Chinese Merchants Bank’s credit card loan for car purchase does not mean that you will be able to successfully apply for the installment business. The final installment amount is subject to the review of the China Merchants Bank Credit Card Center.

At the same time, when applying for a China Merchants Bank credit card loan to purchase a car, you must pay a down payment. Most models require a down payment of 30% of the car price, and individual models require a down payment of 20%. The payment must be made by a payment method other than a China Merchants Bank credit card.

Related hot reading introduction:

What is the interest rate of China Merchants Bank’s credit card installment loan? The minimum handling fee is 0.75

What is the general credit limit of China Merchants Bank’s credit card? The maximum amount can buy a car

Is it cost-effective to buy a car in installments with China Merchants Bank’s credit card?

Credit card installment Buying a car is relatively cost-effective for the following reasons: 1. As long as you have a credit card, you can apply for a loan directly from the bank. If you don’t have a credit card, many 4S stores now provide credit card loans to buy cars, which can usually be completed in about a week; 2. The advantage of using a credit card loan to buy a car is that the process is relatively simple and the approval time is relatively short; 3. But the disadvantage is that The loan cycle is short (generally no more than 3 years at the longest), and the applicant’s past credit requirements are relatively high.

That’s it for the introduction of China Merchants Bank’s credit card loan to buy a car.