With the sharp decline of traditional car loan business, credit card installment loan and car financing loan have gradually become the mainstream. Many car dealers encourage users to use credit card installment loans or auto financing loans because they can discount the original preferential prices.

According to the data presented by relevant car dealers, the proportion of credit card car loans has reached 80% to 90%, while the traditional car loans have dropped to around 10%. In the future, this data is still changing.

Compared with traditional car loans, car buyers with credit card installment loans only need to go to the bank to apply for individual car loan installment and submit proof of identity and income. After the approval of the bank, it will increase the credit limit of consumers, which can usually be completed in one week. This process has been simplified a lot.

Bian Xiao found that many 4S stores also recommend customers to apply for auto financing loans. It is reported that the loan threshold of auto financing companies will be relatively low. Lenders only need to provide ID cards, income certificates and real estate licenses when applying for loans. In order to attract more users to buy cars through auto financing loans, many manufacturers have introduced relevant preferential policies. It is reported that some manufacturers can use auto financing loans with a maximum discount of 20,000 yuan.

Million car purchase subsidy