Buying a car with a credit card loan is also one of the more popular ways to buy a car in the future. Compared with bank loans to buy a car, the application threshold for credit card loans to buy a car is lower, and there are not so many complicated loan application processes and procedures to be prepared. So, what procedures do you need to prepare for buying a car with a credit card loan? What are the application conditions?
Requirements for credit card loans to buy a car
Buying a car by installment with a credit card is easier to operate than using a bank car loan. Cardholders can apply for loans with good credit and stable income, and generally have no household registration or property restrictions. The details are as follows:
1. The applicant must be a natural person aged 18-60 with full civil capacity;
2. No bad credit record, no cash or multi-head credit, and no excessive debt;
3. The applicant must be a China citizen or an overseas person who meets the conditions for issuing unsecured cards, and meet the stability conditions required for issuing cards;
4. The applicant must have a stable job or income source, have the ability to repay the principal and interest of the loan on schedule, and meet any income or income substitution conditions specified below.
Information needed for credit card loan and car purchase
1, loan application;
2 valid identity documents, occupation and income certificates and basic family information;
3. The proof or document of the lender's guarantee requirements, and the car purchase contract or agreement shall be provided when applying for the loan through the dealer;
4. Other conditions required by the bank.
Credit card loan car purchase process
1. After the cardholder chooses to buy a car, the dealer will confirm whether the car is within the scope of credit card loan;
2. The cardholder applies for credit card installment payment by telephone;
3, bank staff to review the borrower's application;
4. After approval, sign a loan agreement with the borrower;
5. The bank transfers the money to the car dealer's account;
6. The cardholder shall go through the formalities of automobile mortgage registration;
7. The cardholder uses the car.
Do you have a credit card to borrow money to buy a car?
Yes, it can be handled. 1. If you have a credit card in your name, you can apply for a loan to buy a car. 2. Credit cards cannot have overdue records. 3. Provide your own bank salary certificate. 4. Many banks and 4S stores have cooperative car loans, which is a very simple process. As long as it is used normally and repaid on time, you can apply for a loan to buy a car.
When using a credit card, if it is overdue for more than 6 times in the past two years, or overdue for more than 90 days, the application for car loan will be directly rejected. Secondly, because the credit card limit will occupy the personal credit limit, if the accumulated credit card limit is too high, or the credit card utilization rate is too high, it will be more difficult to apply for a car loan considering the great repayment pressure and the increased loan risk. Applying for a car loan mainly examines the applicant's personal credit, repayment ability and debt ratio. Simply having a credit card is not overdue, the amount used is not much, the applicant's income is high and stable, and the problem is not big.
Handling process of automobile loan:
First of all, the lender needs to prepare ID card, residence certificate, work certificate, loan use certificate and other supporting materials, go to a bank, fill out an application form and fill out a contract.
Then, wait for the bank's pre-loan qualification investigation and approval. If the lender meets the loan conditions stipulated by the bank, the bank will inform the lender to fill out some loan forms. If the loan applied by the lender needs mortgage or guarantee, it is also necessary to sign a guarantee contract and a mortgage contract, and go through the mortgage registration procedures; If so, there is no need to sign such a contract.
Secondly, banks issue loans to lenders. Generally, banks will lend money within 2 to 3 weeks or 1 month after the approval is completed, and the loan can be released within 1 day at the earliest. Finally, the borrower will pay the down payment to the car dealer, and handle the car pick-up formalities with the passbook and the car pick-up note issued by the bank.
Note: In the process of applying for personal automobile consumption loan, the applicant needs a copy of ID card, household registration book, marriage certificate, income certificate, bank statement, real estate license, etc.
There is a credit card that has not been returned. If there is no bad information in the credit investigation, you can borrow money to buy a car. According to the credit card, the overdue repayment has passed the delayed application and will not affect his personal credit record. According to Article 11 of the Interim Measures for the Administration of Personal Loans.
Personal loan application shall meet the following conditions: (1) The borrower is a citizen of People's Republic of China (PRC) (China) with full capacity for civil conduct or an overseas natural person who meets the relevant provisions of the state; (2) The purpose of the loan is clear and legal; (3) The amount, duration and currency of the loan application are reasonable; (4) The borrower has the willingness and ability to repay; (5) The borrower's credit status is good and there is no significant bad credit record; (6) Other conditions required by the lender.
If you apply for a CMB card, you can apply for a car loan through a savings card. If you have seen the model you need to buy through the car dealer, you can confirm whether you have cooperation with China Merchants Bank through the car dealer. If not, you can try to contact the personal loan department at the local China Merchants Bank counter directly to apply for your loan. The handling bank needs to specifically review your situation to determine whether it can be handled. If credit cards are used for car installment, banks mainly distinguish the installment application methods and application materials to be submitted by different cardholders according to their card performance (such as card holding time, consumption habits, fixed quota, etc.). ), professional status and income.
What is the process of buying a car with a credit card loan?
With the popularity of credit card loans, more and more people choose credit card loans to buy cars, so what are the ways to buy cars with credit cards? What information do you need for a credit card loan to buy a car?
First, the way to buy a car with a credit card loan
There are two ways to buy a car with a credit card loan. One way is to buy a car at a car dealer that cooperates with the bank. After signing a car purchase contract or agreement with the dealer, the dealer will apply for a loan from the bank. The other is to apply for a loan directly at a bank outlet. After signing a loan contract with the bank, you can choose to sell your car and buy your favorite car.
Second, the characteristics of credit card loans to buy a car:
1, the credit card loan to buy a car is limited, and the maximum credit card loan is 200,000;
2. Some banks have requirements for the holding period of credit cards;
3. Credit card loans are limited to buy cars;
4. No interest, only handling fee.
Third, credit card loan to buy a car information
1. Fill in the loan application form;
2. The lender's valid identity documents, occupation and income certificates and basic family information;
3. The proof or document of the lender's guarantee requirements, and the car purchase contract or agreement shall be provided when applying for the loan through the dealer;
4. Other conditions required by the bank.
Fourth, the process of buying a car with credit card loan
1. After the cardholder chooses to buy a car, the dealer will confirm whether the car is within the scope of credit card loan;
2. The cardholder applies for credit card installment payment by telephone;
3, bank staff to review the borrower's application;
4. After approval, sign a loan agreement with the borrower;
5. The bank transfers the money to the car dealer's account;
6. The cardholder shall go through the formalities of automobile mortgage registration;
7. The cardholder uses the car.
What does credit card car loan mean?
It's used to pay off the car loan.
It's a car loan credit card, generally limited to one yuan, and you can't spend it by credit card. Dedicated to repayment. After the car loan is paid off, it needs to be cancelled. For details, please consult the car loan handling personnel.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.
benchmark interest rate
According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend.
How to calculate the car loan interest rate
Calculation formula of monthly car loan: a = p (1i) [(1i) n-1]/n 2/i.
A: Monthly contributions.
P: total donations
I: monthly interest rate (annual interest rate/12)
N: Total months of contribution (year × 12)
loan rate
The actual interest rate of car loan is set by the handling bank according to the actual situation of customers and with reference to the benchmark interest rate stipulated by the central bank. Generally, customers with excellent conditions can enjoy the benchmark interest rate or float down 10%, while ordinary customers need to float up 10% on the basis of the benchmark interest rate.
Personal loan car purchase business is divided into direct customers, indirect customers and credit card car loans. The direct customer type is generally a bank car loan for customers to meet directly, and the indirect customer type is generally a car loan from an auto finance company to a customer car loan.
The fees charged by banks for direct car loans include deposit, principal and interest, and 3% guarantee fee. And the bank's premium customer fees will be discounted, but the preferential policies of each bank are different.
In addition to the above fees, personal auto financing companies also need to bear supervision fees, fleet management fees and warranty renewal deposits.
And credit cards, car loans. Credit card installment car loan only provides installment payment for bank credit card users, not all conditions can be handled, and there is an audit procedure, which is difficult for credit card users with bad credit records.
The specific steps of buying a car by credit card in installments are roughly as follows:
1. The cardholder (or applicant) calls the bank's credit card center or goes to the local bank to find out whether he can apply for a credit card car loan.
2. The cardholder will fill in the installment order of car purchase at the dealer with his ID card, and the bank background will review it.
3. After the order is approved, the cardholder pays the down payment and goes through the normal car purchase procedures.
4. After the vehicle is licensed, the cardholder needs to go to the bank to go through the mortgage formalities and purchase the required auto insurance.
Finally, I can drive the car away smoothly.
How to buy a car with a credit card
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.