1. I would like to ask all the experts, is it more cost-effective to buy a car with a credit card or a bank car loan?

In comparison, car loans are more suitable. Because the credit card limit is limited, and the maximum installment is 2 years, the interest will be charged in one go. Car loans can last from 1 to 3 years, and the loan amount can be up to 80% of the car price, and up to 5 years for some models.

The relative interest rate is lower than that of a credit card for the same period (not much lower) and the car loan can be repaid in a 50:50 pattern, which is more flexible and convenient.

As for banks, it is best to check which bank the dealer of the model you buy has cooperation with. Generally, there will be some discounts or gift packages if you cooperate. (For example, Bank of China cooperates with Toyota, Industrial Industrial cooperates with Kia), of course some of them are local, and you need to understand them yourself.

If you don’t consider cooperation, the car loan business of each bank is not much different. It just depends on which bank’s card is convenient.

2. I applied for a car loan at China Construction Bank and was sent a car purchase installment card and a credit card. How many days later was another credit card sent to me?

This is the Long Card credit card car purchase installment. The two cards are usually a set of cards, one is for domestic use with UnionPay, and the installment money can be paid back to the UnionPay card (activation or not is required. If activated, repayment will be more convenient). In addition to the single label, you don’t need to activate it if you don’t need it. SMS notification of repayment is a bank statement reminder service. You can also call bank customer service to manually set up bill delivery, electronic statements, etc.

3. Which is more cost-effective, bank car loan or credit card installment car purchase?

It is recommended to choose credit card installment loan, which is flexible, simple process and does not have too much social burden. As long as you check the handling fees and guarantee fees to make sure you don't lose money, you can basically do it. Credit card loan Credit card loan to buy a car is a credit card installment business launched by the bank. The credit limit that cardholders can apply for is generally 20,000-200,000; it is divided into three stages: 12 months, 24 months and 36 months. There is no loan interest rate for credit installment car purchases. Banks only charge handling fees, and the handling fee rates are different for different installments. Installment credit card car purchases have zero interest, preferential handling fees, no guarantee, no mortgage, and you can also enjoy credit card points rewards, without having to bear high loan interest, and avoiding cumbersome mortgage procedures. You can apply for a special credit card by providing some materials to the bank and paying a one-time fee. Bank Loan The minimum down payment of bank loan can be reduced to 20%, so it is known as the choice of most prospective car owners. In addition, banks can apply for loans with large amounts, low interest rates, and long repayment periods. The most important point is that banks can apply for car loans for any number of models or dealers, which greatly increases the options for loan buyers. There are many benefits, but it is not easy to get approval and there are certain social burdens.

4. Which is more cost-effective to buy a car with a credit card loan or a car loan from a bank?

Expand all Recently, some consumers have reported that they want to take advantage of the discount period to buy a family car worth about 500,000 yuan. But I currently don’t have enough funds on hand, so I want to buy a car through a loan, but I don’t know which one is more suitable: bank car loan, credit card car purchase, or car finance company loan? In this regard, a person from the credit department of a state-owned bank said that bank car loans are the most traditional To purchase a car with a loan, take the purchase of a car worth 500,000 yuan as an example. You can borrow up to 350,000 yuan from a bank and pay it off in 60 months with an annual interest rate of 6.4%. Although the interest rate is low, the loan limit and approval process are very strict, and the procedures are also cumbersome. In addition, citizens can also choose to purchase cars through credit card installments. There is no interest for credit card installment car purchases, but there are installment handling fees. Currently, the handling rates of various banks are generally 3%-5% for 12 installments, and 4%-7% for 24 installments, which is equivalent to the lowest annual interest rate of only 4%. In addition, you can also choose to buy a car with a loan from an auto finance company. This loan refers to a loan business launched by automobile manufacturers. It can be applied for directly at 4S stores without going through a bank. Car buyers only need to provide identification, driver's license, income certificate, etc. to the auto finance company to apply. There is no need to provide pledges or guarantees. The loan period can be up to five years, and the approval process is simple. The car can be picked up on the same day as soon as possible. . When the loan matures, citizens can choose to settle the flexible balance payment in one go, or apply for a second loan for a period of 12 months for the flexible balance payment. The interest rate on this car loan is relatively high, with the five-year interest rate being as high as 8%.

The person reminded that installment car purchases with credit cards seem to cost less than bank car loans, but in fact, the service fee is determined based on the number of installments. The more the number of installments, the higher the final total interest will be. In order to minimize the cost of car purchase , it is recommended that citizens choose installments within 12 installments. Loans from auto finance companies are more suitable for out-of-town consumers who are eager to buy a car and whose future income is not stable. In order to reduce the cost of buying a car, car buyers who choose this type of car loan are best to take advantage of the auto finance company's interest discount activities. Car buyers with ample cash can choose a floating down payment repayment method. If the down payment is higher, the loan interest rate will be reduced accordingly, and there will be less pressure on later repayments.