What is the interest rate for car purchase installment with China Merchants Bank credit card?
If you are applying for bill installment, the handling fee for each bill installment = total installment amount × handling fee rate for each installment, each The minimum handling fee for each period is 5 yuan, which is 0.9% for each period of 3 periods, 0.75% for each period of 6 periods, 0.70% for each period of 10 periods, 0.66% for each period of 12 periods, 0.68% for 18 periods, and 0.68% for 24 periods. After the bill installment application is successful, the current bill only needs to repay the amount other than the bill installment. The principal amount payable in the first installment (principal payable in each installment = total installment principal ÷ number of installments) and handling fees will be reflected in the next month's bill. .
If you want to apply for China Merchants Bank’s credit car purchase business, you must meet the following requirements:
1. Persons in mainland China;
2. Natural persons with full capacity for civil conduct;
3. Aged between 18-60 years old;
4. Do not have serious bad credit records from banks or credit institutions;
5. Have legitimate Stable job or income.
Extended reading
Credit card installment payment
1. Credit card installment payment refers to a one-time payment from the bank to the merchant when the cardholder uses the credit card to make large purchases. The process of paying the cardholder's consumption funds for the goods (or services) purchased, and then allowing the cardholder to repay the bank in installments and pay handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.
2. In the early days of the credit card installment business, banks often promoted it under the banner of “interest-free”, and indeed many citizens were “fooled”. In fact, interest-free is not free, it’s just called something different.
In general, the one-year credit card installment fee is lower than the annual cash withdrawal interest of 18%, and higher than the bank's one-year commercial loan interest of 5.31%. It is worth mentioning that commercial bank loan interest rates have been reduced many times in recent years, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment payment fees vary from bank to bank, the calculation method is roughly the same.
3. The main benefits of credit card installment payment:
Enjoy it first, pay later.
No guarantor required and the procedure is simple.
Timed and fixed amount, easy payment.
Pay as you please with any monthly repayment amount
More space to choose payment methods.
What is the interest rate for buying a car?
If Pacific Automotive Network borrows 100,000 yuan, the total interest will be about 20,250 yuan. Assume that the amount of the car loan is 100,000 yuan, the loan interest rate is 6.75%, and the loan term is 3 years. The total interest that should be paid can be calculated through the formula as 1,000,006.75%3=20,250 yuan.
A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car, also called a car mortgage. The interest on a car loan must be calculated. Generally, after determining the loan interest rate, loan term, and loan amount of a car loan, the borrower can use the formula "interest = principal/interest rate/term" to calculate How much is the interest rate?
1. Bank loan: Choose a bank loan to buy a car. The loan interest rate is moderate and there are many types of cars to choose from. However, the actual process of applying for a loan takes time and energy. In order to control risks, banks usually take a long time to review and require applicants to submit a lot of information. If you want to apply without the hassle, bank loans are a good choice.
2. Credit card installment: As we all know, there is no interest fee for credit card installment, which is also the biggest advantage of buying a car through credit card installment. At the same time, credit card installment is convenient and fast, and can be done with just one phone call. Sometimes when banks cooperate with car dealerships, you can enjoy certain discounts. However, it should be noted that although there is no interest fee for credit card installment, there is a handling fee. The longer the installment time, the higher the handling fee. Usually the handling fee for an installment exceeding one year will be the same as or slightly higher than the bank's consumer loan interest rate for the same period.
3. Auto finance company: In addition to being convenient and fast, the application threshold for buying a car through an auto finance company loan is not high. As long as consumers have a certain repayment ability and have paid the loan down payment, they can apply to the loan.
However, consumers also need to pay attention to the fact that when buying a car with a loan from an auto finance company, the loan cost is usually relatively high. Generally, in addition to paying interest on the loan, there are also a series of fees such as handling fees.
4. Company: The threshold for buying a car through a small loan company is not high, the car model selection is not restricted, and the rates are higher than those of banks. The loan methods and repayment methods are more flexible, and the approval is slightly faster than that of banks.
(Pictures/texts/photographs: Chen Fang of Pacific Automotive Network 1)
How much is the interest rate for installment car purchases with a CCB credit card? How to calculate?
Using a credit card to purchase a car in installments is actually borrowing money from the bank to buy a car. At this time, everyone will worry, isn’t it going to charge very high interest? So do you know how much is the interest rate for installment car purchases with a CCB credit card and how is it calculated?
Which CCB credit cards can be used to purchase cars by installment?
Only CCB Dragon Card holders can apply, and commercial cards, student cards, supplementary cards and guaranteed cards cannot apply.
How to charge interest on installment car purchase with CCB credit card?
Use a CCB credit card to purchase a car in installments and enjoy 0 interest, which means no interest will be charged. However, this is on the premise of on-time repayment. If it is overdue, five ten thousandths will be charged daily. Interest.
How to charge the handling fee for installment car purchase with CCB credit card?
CCB credit card car purchase installments can generally be divided into 12, 18, 24, 36 and 48 installments. The handling fees will be adjusted in real time. If you purchase during the event, the handling fee will be waived.
Although there is no interest charge when buying a car in installments with a CCB credit card, you still have to repay it on time, otherwise the interest of 0.05% per day is not negotiable.
You can apply for various credit cards quickly and safely.
How to calculate car loan interest
To calculate the annual interest of a car loan, you can use this formula: Car loan annual interest = Car loan principal × Car loan annual interest rate.
Generally, you can calculate the annual interest rate of a car loan by knowing the principal amount of the car loan and the annual interest rate of the car loan. Both are stated in the car loan contract. For example, if the principal of a car loan is 100,000 yuan and the annual interest rate is 8%, the annual interest rate is equal to the principal of the car loan × the annual interest rate of the car loan = 100,000 yuan × 8% = 8,000 yuan.
Extended information:
Car loan refers to a loan issued by a lender to a borrower who applies to buy a car. Car consumer loans are a new type of loan method in which banks provide RMB-guaranteed loans to car buyers who purchase cars at their authorized dealers.
The borrower must be a permanent resident of the location of the lending bank and have full civil capacity.
Notes on car loans are as follows:
1. After enjoying the merchant’s “zero-interest and interest-free loan”, can I still enjoy the car price discount?
2. The car loan handling fees on the market a few days ago ranged from 4% to 7.5%. Whether the interest is waived or the handling fee is increased.
3. The car purchase interest rate is charged according to the bank’s benchmark interest rate. Regardless of whether the handling fee is waived or not, the interest is based on the bank's base interest rate.
When looking for a car loan, the most important thing is to shop around. Consumers should choose a formal car loan service company with certain qualifications and strength, which not only provides standardized services and charges, but also leaves no hidden dangers.
Factors that generate interest:
1. Delay consumption. When a lender lends money, it is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer current goods to future goods, so positive interest rates will occur in the free market.
2. Expected inflation. Most economies experience inflation, which represents a certain amount of money. You will buy fewer goods in the future than you do now. Therefore, the borrower needs to compensate the lender for its losses during this period.
3. Lenders may choose to invest funds in other investments instead of alternative investments. Because there is an opportunity cost, lenders lending funds are equivalent to giving up possible returns on other investments. Borrowers need to compete with other investments for this funding.
4. Investment risks. Borrowers face the risk of bankruptcy, absconding or non-repayment of debts at any time. Lenders need to charge additional fees to ensure that they can still receive compensation in these circumstances.
5. Liquidity preference, people prefer that their funds or resources can be traded immediately at any time, rather than requiring time or money to get them back. Interest rates also compensate for this.
How to calculate the interest on installment car purchases with a credit card?
The user applies for a bank car loan. After being approved by the bank, the bank will send a credit card to the user. This credit card is used for each car loan. Monthly car loan repayments. Banks generally do not accept car loans, but they do offer credit card installment car loans, that is, using the credit card limit to purchase a car in installments, so the credit card is used as a repayment bank card. This is a car purchase installment payment business handled through a credit card. You can also understand that it is roughly the same as a car loan. It means that a large amount of special installment payment will be approved on the credit card. You can not activate it and repay it directly to the card. The credit card card The bill date of each month will be stated on the letter. The repayment date of each month is the 20th day after the bill date. The repayment date of each month is fixed. When the first month's bill comes out, it should be Received a text message reminding you to repay.
In addition, users must return money to their credit cards on time every month. Unless there is a grace period for repayment, one day overdue will also be recorded on the credit report.
1. Procedures for applying for credit card car purchase installments
(1) Submit an application. After you are optimistic about the vehicle you want to buy, fill out the car loan application form and credit rating questionnaire, and submit them to the lending bank together with relevant proof of your personal situation.
(2) The bank conducts pre-loan investigation and approval. If the bank meets the loan conditions, it will promptly notify the borrower to fill in various forms.
(3) Notify the borrower to sign a loan contract, guarantee contract, mortgage contract, and handle mortgage registration and insurance procedures.
(4) The bank issues a loan (directly transferred from the bank to the car dealer's account).
(5) The borrower will hand over the down payment to the car dealer and go through the procedures for picking up the car with the passbook and the car delivery note issued by the bank.
2. Materials required for credit card car purchase installment payment:
1. First apply for a credit card;
2. Loan you to buy a car based on your credit record (that is, you need to activate the card after you get it) , then you need to use it for a period of time, swipe the card frequently, and then repay the money on time. Do not fail to repay the money after the due date. Have a good credit record);
3. Each bank cooperates with designated car dealers, which means that you only You can choose the car brand provided by the bank, and then after choosing the brand, you must choose the loan period (only 1 year, 2 years and 3 years) according to your own financial situation;
4. Then go directly to the bank branch to find it Account managers, they will help you handle everything, usually within 15 working days.
That’s it for the introduction of how to calculate interest on car purchases with credit cards.