1. Buying a car with a credit card is offline. The following is the process of buying a car by installment credit card:
(1) filing an application. After you are optimistic about the vehicle to be purchased, fill out the Application Form for Automobile Consumption Loan and the Credit Status Questionnaire, and submit them to the loan bank together with the relevant certificates of personal situation.
(2) The bank conducts pre-loan investigation and approval. If the loan conditions are met, the bank will promptly notify the borrower to fill in various forms.
(three) notify the borrower to sign the loan contract, guarantee contract and mortgage contract, and go through the mortgage registration and insurance procedures.
(4) Loans issued by banks (directly transferred by banks to the account of automobile dealers).
(5) The borrower pays the down payment to the car dealership, and handles the car pick-up formalities with the passbook and the car pick-up note issued by the bank.
Second, the advantages and disadvantages of buying a car by credit card:
(1) Advantages:
① Low handling fee and zero interest rate:
Compared with bank loans and car loans from auto financing institutions, there is no interest on credit card installment car purchase. Of course, the so-called zero interest rate will pay the handling fee, but for the lower handling fee, it is a better choice than the other two loan methods.
② Quick approval:
Fast approval is also an advantage of credit card installment. The purchase of credit card loans in some banks can be completed in 40 minutes at the earliest, and the longest will not exceed 3 days. Although the approval speed is fast, it is also caused by some limitations of credit card purchase. Everything has advantages and disadvantages. The disadvantages of credit card installment will be mentioned later.
3 Cheap and affordable:
Buying a car by installment with a credit card is exactly the same as buying a car in cash, but you have to pay a part of the handling fee. From the dealer's preferential activities, we can know that it is often mentioned that the cash discount is XX thousand, and this cash discount is only applicable to car buyers who pay in one lump sum. Buying a car by installment with a credit card is the same as buying a car at one time. You have the right to get a discount and a gift from the dealer. Moreover, most credit card banks have credit card swiping activities. After buying a car, you can also redeem the corresponding bonus gifts at the bank, which can be described as killing two birds with one stone.
(2) Disadvantages:
1 limited to brands.
Every bank that has a credit card to buy a car in installments has a corresponding cooperative brand and a car model that can enjoy the business. If you want to buy other models by stages, you can only find loans from banks or auto financing institutions.
(2) limited to a certain number
Like the use of credit cards, there is a certain amount of credit card installment, which is also related to the cardholder's work and economic affordability. No bank will lend them to unsecured people. Therefore, people who want to buy luxury cars should not choose credit card installment loans.
Extended data
Precautions for credit card installment purchase:
1. The down payment for car purchase cannot be paid by credit card;
2. CCB's credit card purchase fee needs to be paid in one lump sum at the first repayment;
3. If repayment is made in advance by installments, the handling fee will not be refunded;
4. Vehicles purchased by credit card in installments must be insured against vehicle theft and vehicle loss, and the insurance period is consistent with the installment period.