First of all, we need to make it clear that the loan amount for a credit card installment car purchase can generally be 60 to 70% of the car payment, which means that the down payment is generally more than 30%, and the maximum loan amount is generally 60% to 70%. 200,000, but not less than 30,000. Different banks have different policies for different cars. Basically, both mid-range and low-end cars can be purchased in installments.

2

Then we need to know the period of installment we want to make, which is usually 12, 18, or 24 periods, that is, one to two years.

3

There is another point that concerns us, and that is the fee. Generally speaking, there is no interest on the loan, but only a handling fee. The handling fee is 0- for one period. The price for issues 10 and 12 is usually 3.5, and the price for 24 issues is 7. Some models are free.

4

Buying a car by installment using a credit card can be said to be the cheapest of all types of loans. However, credit card installment payment only cooperates with designated car dealers, and the loan period does not exceed two years at most. This is its biggest disadvantage. If the car you are interested in cannot be used for credit card installment payment, there is nothing you can do. Banks can apply for car loans regardless of car model or car dealer. The loan period is generally 1 to 3 years, and the minimum down payment is 30%. If you are a high-quality customer such as a civil servant, the down payment ratio can be reduced to 20%, and the loan term can be up to 5 years.

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Process

So, what is the process for credit card installment without a car? Let’s take a look. First, go to the 4S store to choose a suitable car model.

Then present your ID card, credit card and employment certificate to the store staff.

The dealer is responsible for submitting information to the card-issuing bank, and the bank will confirm the loan after back-end approval within a few hours. Consumers

pay the down payment (the down payment cannot be overdrafted) and pay the installment by swiping their card.

It is very convenient to pick up the car.

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