1. Which one is more cost-effective, credit card installment or car loan?

Credit card installment car purchase and car loan each have their own advantages and disadvantages, and they can be compared and selected according to the car buyer's own situation. Bank loans to buy cars. Major car 4S stores generally have cooperative loan banks. When you need a loan to buy a car, you only need to hand over the materials required for the loan to the 4S store (such as bank statements, professional certificates, etc. Generally, different banks require different loan application materials), and then apply for a loan from the bank through the 4S store. That’s it. Advantages:

1. There is no restriction on car models.

2. The interest rate is relatively low.

3. The repayment period can be flexibly selected. Disadvantages: 1. The loan time is relatively long. 2. Approval is cumbersome and the requirements for loan conditions are relatively strict. 3. The down payment ratio is relatively high. Credit card loan to buy a car: Just have a credit card and apply for a loan directly from the bank. If you don’t have a credit card, many 4S stores now provide credit card loans for car purchases, which can usually be completed in about a week. Advantages: simple procedures and short approval time. Disadvantages: 1. The repayment period is relatively short (the longest is generally no more than 3 years). 2. The applicant’s past credit requirements are relatively high.

2. Which one is more cost-effective, credit card installment or car loan?

Both have their pros and cons. The handling fees for credit card car purchase installments are not all very low. For example, the one-year installment fee is 3--4, the two-year installment fee is about 6, and the three-year installment fee is about 8. If your installment payment is three years, the interest will be different. Not much, even a regular car loan is cheaper. What you mentioned is that it is feasible to get a loan from the bank first and then buy a car. It is troublesome to use a credit card. It depends on the situation. If the 4S has an interest-free loan, the 4S office will only charge you a handling fee of about 2,000. If there is interest, the 4S will help you collect the handling fee and interest. If you save the handling fee, it will be difficult for you to go directly to the bank. Moved to the loan.

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

Bank car loan is more cost-effective, and the repayment of car consumption loan is more flexible. Its maximum term can reach 5 years, and it can provide loan repayment methods with equal principal and interest, equal principal, more down payment or final payment, and less payment in the middle. It is much more flexible than credit card installments and is suitable for people with cyclical income. For people who often change cars, it is also a way to reduce the cost of buying a car.

Automobile consumer loans have much higher loan limits than credit card installments. Credit card installment car purchases are mainly targeted at individuals or families who are buying cars for the first time. Generally speaking, the upper limit of the installment limit is 200,000 yuan. Bank car loans can reach up to 80% of the car price, and the loan limit can be enlarged to 500,000 yuan.

Credit Card Installment Car Purchase Procedure

(1) Submit an application. After you are optimistic about the vehicle you want to buy, fill out the car loan application form and credit rating questionnaire, and submit them to the lending bank together with relevant proof of your personal situation.

(2) The bank conducts pre-loan investigation and approval. If the bank meets the loan conditions, it will promptly notify the borrower to fill in various forms.

(3) Notify the borrower to sign a loan contract, guarantee contract, mortgage contract, and handle mortgage registration and insurance procedures.

(4) The bank issues a loan (directly transferred from the bank to the car dealer's account).

(5) The borrower will hand over the down payment to the car dealer and go through the procedures for picking up the car with the passbook and the car delivery note issued by the bank.