Why do you need a credit card (debit card) for car loan repayment?

The user is applying for a credit card (debit card) installment car purchase business. Before applying for a car loan, a credit card (debit card) will be required, so the user will think that a credit card is required to repay the car loan ( credit card). If you are applying for a car finance loan, then as long as you have a bank card to repay the car loan, the car finance company does not make any requirements whether the user has a credit card (debit card).

Bank car loans are basically credit card (debit card) installment purchases, so users who have a credit card (debit card) and want to apply for a car loan can go to the bank to apply for a credit card (debit card) ) Installment car purchase business. Why do car loan banks apply for credit cards for customers?

Car loan banks apply for credit cards for customers. This is a bundled business that the bank conducts for car loan customers in order to complete the credit card task. There is no charge for this service. If it is not used or activated, no fee will be charged. \r\n\r\nCar loans refer to loans issued by lenders to borrowers who apply to purchase cars, also called car mortgages. \r\nLoan target: The borrower must be a permanent resident of the location where the loan bank is located and have full civil capacity. \r\nLoan conditions: The borrower has a stable career and the ability to repay the principal and interest of the loan, and has good credit; can provide recognized assets as collateral or pledge, or a third party with sufficient repayment capacity to repay the principal and interest of the loan and bear joint and several liability. Liability guarantor. \r\nLoan amount: The maximum loan amount generally does not exceed 80% of the purchase price of the car. \r\nLoan term: The term of automobile consumer loans is generally 1-3 years, with a maximum of no more than 5 years. \r\nLoan interest rate: uniformly stipulated by the People's Bank of China. \r\nLoan repayment method: You can choose the one-time principal and interest repayment method or the installment repayment method (equal principal and interest, equal principal). \r\nAn automobile finance or guarantee company is what is mentioned in the article - a third party with sufficient repayment capacity serves as the guarantor for repaying the principal and interest of the loan and assumes joint liability. Why do I need a credit card (debit card) for a China Construction Bank car loan?

China Construction Bank’s car loan model is to purchase a car in installments using a credit card (debit card), so when applying for a car loan, you must apply for a Construction Bank credit card (debit card). Users who already have a China Construction Bank credit card (debit card) can apply for a car loan directly. If you do not have a card, you need to apply for a credit card (debit card) first and then apply for a car loan. Banks are generally unwilling to do car loan business, but credit card (debit card) installment car loan is a new car loan model, and it is also the car loan type mainly promoted by banks.

In fact, when applying for a car loan, 4S stores usually require users to go directly to a bank that has a credit card (debit card) to apply for a car loan, and will not recommend users to apply for a temporary credit card (debit card) Car loan. Is a car purchase installment card a credit card?

A car purchase installment card is a credit card, and it is a special installment credit card. The characteristic of a special installment credit card is that the credit limit can only be spent at designated merchants and cannot be used for other purchases. There are no regulations for ordinary credit card consumption, as long as it is not used for financial management, stock trading, funds, etc. In addition, car purchase installment cards are also repaid according to the repayment date.

If the user repays overdue, the overdue record will be reported to the credit bureau. In this way, the review of the user's application for credit business will become stricter in the future, and the probability of failure will increase.

1. Can car loans be used with credit cards?

The limit of a car loan credit card can only be used to purchase vehicles. After the card is successfully swiped, even if there is remaining credit, it cannot be spent elsewhere. After the user has paid off the car loan, he or she can apply to the bank to convert the car loan credit card into an ordinary credit card. Whether the conversion can be successful is subject to the bank's regulations. In addition, if the car loan credit card cannot be converted, the user can apply for a new card.

Users applying for a bank car loan are actually applying for a credit card to purchase a car in installments. If the user chooses a bank car loan when applying for a car loan, the 4S store staff will ask the user whether he or she has a credit card.

2. Why is a car loan repaid with a credit card?

Applying for a car loan is a credit card repayment, because it is a credit card installment car purchase business. The credit card holder applies to the bank for a special car installment limit, and after approval, it is transferred to the credit card limit, and then goes to the designated dealer. After the dealer selects the specified brand and model, he then swipes the card to buy the car, and then repays it in installments to the credit card every month.

Car loans in this form will not be shown on the credit report, but will be shown on the credit report as a large-amount special installment credit card.

3. Why is a car loan in the form of a credit card?

The car loan is in the form of a credit card, which means that it is a credit card installment car purchase business. The loan will not be shown on the newspaper, but a large installment credit card will be shown. It can be seen as an extension of credit card business. The cardholder applies to the bank for a special car purchase installment amount, and after approval, it will be issued to the credit card.

Then you go to a designated car dealer to purchase a car with a credit card, and then repay it in installments. Compared with ordinary car loans, you cannot choose the brand, model, etc. independently.