Banks issue credit cards not only to provide cardholders with the right to overdraw funds, but also to provide some installment services, which can alleviate certain economic pressure for cardholders, but they need to pay a certain fee to the bank to handle these services. Many people ask, can a credit card borrow money to buy a car? In fact, buying a car by credit card loan is a car installment business of credit card, so can you still borrow money to buy a car when the credit card is overdue? Specific problems have to be analyzed in detail.
Credit cards can be used to borrow money to buy a car.
Buying a car with a credit card loan is actually a kind of credit card installment business of banking institutions. The credit limit that a cardholder can apply for is generally 20,000-200,000 A Jin, divided into three stages: 12 months, 24 months and 36 months. There is no loan interest rate for buying a car by credit installment, and the bank only charges a handling fee. The handling fee rate is different in different installments.
Credit cards can be used for car loans, but card-issuing banks generally require cardholders to provide additional financial proof, including real estate licenses or commercial housing sales contracts, purchase invoices, etc. Some banks require credit card overdraft limit of 654.38+10,000 to 200,000 yuan, and some banks allow cardholders with good credit to apply for credit lines to buy cars by installments.
Restrictions on overdue credit card loans to buy cars
In the process of using credit cards, many people accidentally forget to repay, which leads to overdue, and generally has little impact on loans. For serious malicious overdue behavior, the bank will not tolerate it and directly pull it into the blacklist. If they want to borrow money to buy a car, they can only wait for the elimination of bad credit records after five years.
You can borrow money to buy a car if your credit card is overdue, but you can't exceed these three points:
1, and the total overdue amount is below 1000 yuan;
2. The overdue period is no more than 90 days;
3, within two years, no more than 6 times overdue.
In addition to the above three items, the cardholder is also required to issue a certificate of non-malicious debt to the bank and submit it to the bank when applying for a loan.
Matters needing attention in buying a car with credit card loan
1. The down payment for car purchase cannot be paid by credit card;
2. If repayment is made in advance by installments, the handling fee will not be refunded;
3. Some bank credit card car purchase fees need to be paid in one lump sum at the first repayment;
4. 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.
Can I buy a car with a credit card?
You can buy a car with a credit card. You can choose to pay in full or by installment. But relatively speaking, installment payment may be cheaper than full payment. Many people find the full payment more convenient. In fact, the full handling fee is more expensive because it is more complicated.
First, the credit card installment car purchase process
1. Submit the application. After buying a car, I expect to fill in the Application Form for Automobile Consumption Loan and the Credit Status Questionnaire, and submit relevant personal certificates to the loan bank;
2. The bank conducts pre-loan investigation and approval. If the borrower meets the loan conditions, the bank will promptly notify the borrower to fill in various forms;
3. Notify the borrower to sign the loan contract, guarantee contract and mortgage contract, and go through the mortgage registration and insurance procedures;
4. Bank loan (directly transferred from the bank to the car dealer's account)
5. The borrower pays the down payment to the car dealer, and handles the car pick-up formalities with the passbook and the car pick-up note issued by the bank.
2. Which bank's credit card is easy to handle?
1, Bank of Communications, the credit card threshold of Bank of Communications is very low, you only need to provide your ID card and your work certificate (such as work permit, label or stamped unit income certificate, even the original business card and a copy of the institution card);
2. China Merchants Bank Credit Card: China Merchants Bank is the first credit card brand in China, but friends who hold credit cards have credit cards from this bank, also because its approval card threshold is not high. However, the limit is high or low, which of course basically determines the applicant's property and income;
3. China Everbright Bank: The credit card application of China Everbright Bank is also very good. It has a low threshold for handling cards, and has the reaction of card friends, and it has passed the application without submitting work certificates and property certificates;
4. Minsheng's credit card: It is difficult for Minsheng Bank to apply for a card, and you are not from this city and don't recognize the current card. Some discriminate against rural household registration personnel, but other banks with opposite quotas are higher;
5. China Industrial and Commercial Bank: China Industrial and Commercial Bank can be said to be one of the top four state-owned banks to apply for credit cards, but these cards have a higher threshold, but they are issued first.
Can I borrow money to buy a car if my credit card is not paid off?
You can borrow money to buy a car if your credit card is not paid off.
In the case that the credit card is not paid off but not overdue, as long as the user can prepare enough economic income at the time of application and have the ability to repay the principal and interest of the loan on time, it is natural to apply for a certain amount of loan for the purchase of vehicles. If the customer's credit card is overdue, it will affect the subsequent car loan processing.
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 by relevant laws in China refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of functions such as consumer payment, credit loan, transfer settlement, cash deposit and withdrawal? . Credit card consumption is a non-cash transaction payment method, and there is no need to pay cash when spending, and repayment is made on the billing day. 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.
Credit card is a non-cash transaction payment method and a simple credit service. Credit cards are generally plastic cards with a length of 85.60 mm, a width of 53.98 mm and a thickness of 65,438+0 mm, which are issued to cardholders by banks or credit card companies according to users' credit and financial resources. Cardholders do not need to pay cash when using credit cards, and make repayment on the checkout date. Except for some credit cards combined with financial cards, credit cards are different from debit cards and ATM cards, and credit cards will not directly deduct money from users' accounts. Credit card is a special carrier card with consumer credit issued by commercial banks to individuals and units. It is a card with the name of the issuer, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature on the back. A real credit card has the following characteristics: cash is not allowed to be pre-deposited, it is paid after consumption, it enjoys an interest-free repayment period, and it can be repaid in installments (with a minimum repayment amount). Joining international credit card organizations such as VISA and MASTER can be used worldwide.
Credit card loan to buy a car?
The advantages of buying a car with a credit card loan are fast, simple and low threshold. Credit card loan procedures are relatively simple, and the audit is much lower than that of banks. Many credit card products have an interest-free period, so car buyers will repay their monthly bills in full and on time, so there is no need to pay interest. However, it should be reminded at this time that the interest-free period and the handling fee are two different charges. When handling the installment, although the bank does not charge interest, it will charge a certain fee. The handling fee varies according to the number of bills, and the interest rates and collection methods of banks are also different. In addition to the handling fee, the down payment of credit card loans to buy a car is generally higher than that of banks. Credit cards are generally 30~40%. In banks, it is generally 30%, and it can be as low as 20% for high-quality customers with good reputation and stable income. Secondly, if you buy a car by credit card, the credit card limit cannot exceed the credit card limit. Generally speaking, the overdraft limit of a credit card is within 5W, and the maximum overdraft limit does not exceed 20W.
Can a bank still borrow money to buy a car if it has a credit card?
The bank has a credit card, which can be used normally, and it has no effect on the loan to buy a car, so it can borrow money. Car loan processing flow: ① First, the lender needs to prepare ID card, residence certificate, work certificate, loan purpose certificate and other supporting materials, go to a bank, fill out an application form and fill out a contract. ② Then, wait for the bank's pre-loan qualification investigation and approval. If the lender meets the loan conditions stipulated by the bank, the bank will inform the lender to fill out some loan forms. If the loan applied by the lender needs mortgage or guarantee, it is also necessary to sign a guarantee contract and a mortgage contract, and go through the mortgage registration procedures; If it is+++,there is no need to sign such a contract. Secondly, banks issue loans to lenders. Generally, banks will lend money within 2 to 3 weeks or 1 month after the approval is completed, and the loan can be released within 1 day at the earliest. (4) Finally, the borrower pays the down payment to the car dealer, and handles the car pick-up formalities with the passbook and the car pick-up note issued by the bank. Note: In the process of applying for personal automobile consumption loan, the applicant needs a copy of ID card, household registration book, marriage certificate, income certificate, bank statement, real estate license, etc.
So much for the introduction of credit card loan to buy a car.