1. Loan to buy a car refers to the loan issued by the lender to the borrower who applies for buying a car. There are three forms: direct customer, indirect customer and credit card installment payment. Either way, you need a certain down payment first.
2. Credit card installment includes consumer installment, cash installment and bill installment. Installment consumption means that if the cardholder spends a single sum of money after swiping the card, the cardholder can apply to the bank to split the consumption into several repayments, and the bank will charge the consumption to your credit card account.
Although credit card installment and loan to buy a car are two different types, if you buy a car by credit card installment, it is not only a kind of credit card installment (consumption installment), but also a kind of loan to buy a car. Conceptually speaking, the method of "borrowing money to buy a car and paying the down payment by credit card" is not feasible.
Credit card installment loan car down payment:
1. Credit card cash installment is generally a installment method in which the cardholder applies or the issuing bank invites the cardholder to apply, and the credit limit in the cardholder's credit card is converted into cash, transferred to the designated debit card (the Bank or other banks), and returned by specified monthly installments. To put it simply, you can usually get cash ranging from 2,000 yuan to 50,000 yuan, and the highest can even reach hundreds of thousands. The specific amount is related to the applicant's credit card limit and personal qualifications.
2. This method requires a handling fee. Generally, the handling fee rate of installment products will be higher than that of the issuing bank and lower than the circulating interest rate of 0.5‰, which may be different for each bank.
It can be seen that the loan to buy a car can be paid in cash by credit card cash installment. However, using this method usually results in an extra cost and two repayments. If it's unnecessary, you'd better save it. If you have no repayment ability, don't use it.