Can I pay off a car loan with a credit card?

You cannot withdraw money from a car loan credit card. The limit in the car loan credit card is a special limit and can only be used to pay for the car purchase. For example, if the car loan amount applied for by the user is 100,000 yuan, then after the special installment of the credit card is 100,000 yuan, the card can only be used to save money but not to withdraw money. If the user wants to withdraw cash with a credit card, please choose another credit card that does not handle car loan business.

In addition, when handling car loan business, credit cards cannot be used for consumption, and neither online nor offline payments are supported.

Generally speaking, car loan credit cards are exclusive cards. They can only be swiped at specific POS machines to pay for the vehicle you want to buy. They cannot be used for consumption elsewhere. After swiping the card, the cardholder needs to repay the debt in installments according to the number of installments. After paying off the debt, if the cardholder wants to use a credit card, he or she can apply for a credit card at the bank and use it.

Generally, to apply for a bank credit card, the applicant needs to meet the following conditions:

1. The applicant must be between 18 and 65 years old and hold a valid identity document. A natural person with full capacity for civil conduct.

2. The applicant’s personal credit record is good.

3. The applicant has a regular job and a stable income. If you have a car title, you can also provide relevant certification documents for the vehicle, which will help you obtain a higher credit limit.

The car loan credit card process is as follows:

1. The applicant submits the application materials for the car loan;

2. The handling bank processes the application materials submitted by the applicant. Preliminary review, conduct credit investigation and customer evaluation of the applicant;

3. Approval of loan applications that pass the preliminary review and credit investigation and meet the loan conditions;

4. Those who pass the review and approval, Notify the applicant to go through relevant procedures such as contract signing, loan lending, mortgage or pledge; if the application fails to pass the examination and approval, an explanation must be provided to the applicant;

5. After the application contract takes effect, the handling bank will issue the loan. A special lending method is adopted, that is, according to the loan contract, the handling bank directly transfers the loan to the account of the dealer where the borrower purchases the car.

Things to note during the application process:

1. The down payment for a car purchase cannot be paid with a credit card;

2. The handling fee for car purchase with a CCB credit card must be paid in the first installment One-time payment when repaying;

3. If you want to repay the installment in advance, the handling fee is non-refundable;

4. Vehicles purchased by credit card installment payment must be fully insured. For car theft insurance and vehicle loss insurance, the insurance period is consistent with the installment period.

How is the repayment calculated when buying a car in installments with a credit card?

The user applies for a car loan from a bank. After being approved by the bank, the bank will send a credit card to the user. This credit card It’s used to make monthly car loan payments. Banks generally do not accept car loans, but they do offer credit card installment car loans, that is, using the credit card limit to purchase a car in installments, so the credit card is used as a repayment bank card. This is a car purchase installment payment business handled through a credit card. You can also understand that it is roughly the same as a car loan. It means that a large amount of special installment payment will be approved on the credit card. You can not activate it and repay it directly to the card. The credit card card The bill date of each month will be stated on the letter. The repayment date of each month is the 20th day after the bill date. The repayment date of each month is fixed. When the first month's bill comes out, it should be Received a text message reminding you to repay.

In addition, users must return money to their credit cards on time every month. Unless there is a grace period for repayment, one day overdue will also be recorded on the credit report.

1. Procedures for applying for credit card car purchase installments

(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.

2. Materials required for credit card car purchase installment payment:

1. First apply for a credit card;

2. Loan you to buy a car based on your credit record (that is, you need to activate the card after you get it) , then you need to use it for a period of time, swipe the card frequently, and then repay the money on time. Do not fail to repay the money after the due date. Have a good credit record);

3. Each bank cooperates with designated car dealers, which means that you only You can choose the car brand provided by the bank, and then after choosing the brand, you must choose the loan period (only 1 year, 2 years and 3 years) according to your own financial situation;

4. Then go directly to the bank branch Account managers, they will help you handle everything, usually within 15 working days.

Can I buy a car in installments with a Bank of Communications credit card?

Yes.

The bank increases the installment limit of the credit card based on the credit card holder's credit status to meet the card holder's need to purchase designated brand cars in installments at designated dealers. Cardholders only need to bear a certain handling fee to repay the car purchase amount in monthly installments, which is a new car loan model that fully reduces the repayment pressure.

Handling fee: You do not need to pay bank loan interest when purchasing a car in installments with a credit card, but you will need to bear a one-time handling fee. Handling fee = installment amount

Loan term: The maximum term for installment car purchases is generally 24 months.

Down payment: When purchasing a car by credit card installment payment, you generally need to pay a down payment of no less than RMB 30 of the car price.

Limit: Each bank stipulates the loan amount for credit card installment car purchases. For example, China Construction Bank stipulates that the installment amount for car purchases ranges from 20,000 to 200,000.

Extended information

Repayment methods

1. In the card issuing bank

This method includes: card issuing bank counter, ATM, online banking, Automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

2. Transfer/remittance repayment

It is mainly divided into two methods: inter-bank in the same city and inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

3. Online repayment

The more common online platforms in China include: UnionPay Online, Kuaiqian, Shengpay, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.