Can I get a loan to buy a car with a Bank of Communications credit card?

Q: Can Bank of Communications credit cards be used for car loans?

Answer: Yes, Bank of Communications’ “e-Car Loan” provides consumers with a way to consume cars. Civil liability, you can apply for a car loan without having a bad credit record.

The relevant procedures for Bank of Communications credit card car loans are as follows:

(1) Personal housing loan application form;

(2) Proof of identity of the borrower and spouse (resident status certificate, passport, household register, etc.), marriage certificate;

(3) Vehicle purchase and sale contract or agreement;

(4) Vehicle down payment certificate;

(5) Documents proving the borrower's repayment ability (such as income certificate, salary slip, personal tax bill, other assets, etc.);

(6) Ownership certificate of the loan mortgage guarantee, with the person with the right to dispose of the loan Proof of agreeing to the mortgage;

(7) Other supporting documents or information required by the lender.

What is the interest rate for a Bank of Communications credit card loan to buy a car? The conditions and procedures for buying a car with a Bank of Communications loan are here

Buying a car with a Bank of Communications credit card loan means that Bank of Communications credit card holders can apply for a loan through a credit card, thus achieving the purpose of purchasing a car in installments. Essentially, it is a type of Bank of Communications loan business that requires the borrower to prepare a certain down payment. What is the interest rate for a Bank of Communications credit card loan to buy a car? The conditions and procedures for buying a car with a Bank of Communications loan are here!

What is the interest rate for a Bank of Communications credit card loan to buy a car?

The loan interest rate of the Bank of Communications credit card car loan has nothing to do with the credit card installment interest rate. It is mainly linked to the Bank of Communications loan benchmark interest rate. It usually floats 10% on the basis of the LPR interest rate, and is then based on the borrower's personal comprehensive qualifications. Must float. For example, if the LPR interest rate is one-year, then the borrower's loan interest rate will be above, with a maximum of no more than 6%.

To apply for a Bank of Communications credit card car loan, the borrower first needs to hold a Bank of Communications gold card. The ordinary card has a lower limit, and the loan amount that can be applied for is limited.

In addition, the cardholder must be over 18 years old, not a college student, have no tainted credit, and have a monthly income that is more than twice the monthly payment. You also need to provide at least three months of bank statements, loan contracts signed with car dealers, etc.

After meeting the basic loan conditions, the borrower needs to bring proof of identity, marriage certificate, car purchase contract, down payment certificate, income certificate, salary slip, tax slip and other information to the Bank of Communications to fill out the loan application form.

The Bank of Communications will review and approve the result within 7 working days and then notify the borrower. If the loan is approved, the borrower needs to go to the Bank of Communications to sign a loan contract and complete the procedures. The Bank of Communications will then issue the loan, and the borrower can go directly to the dealer to pick up the car with his credit card.

The above is the sharing of relevant content about "What is the interest rate for a Bank of Communications credit card loan to buy a car?" I hope it can help everyone!

Can I get a loan with a Bank of Communications credit card?

Credit cards do not provide loan functions, but if you are in urgent need, you can use your credit card to make installment payments and withdraw cash. If you can't afford to pay the full amount of something at the moment, such as a car or a large appliance, you can apply to the bank for installment payment. The installment payment does not charge interest, but a certain handling fee will be charged. The specific handling fee will depend on what you buy. It depends on the item;

If you are in urgent need of cash, you can withdraw cash with a bank credit card, but the cash withdrawal limit of each credit card is limited. Generally, you can withdraw cash up to 50% of the credit card limit. , for example, if your credit card limit is 10,000 yuan, you can withdraw up to 5,000 yuan.

In addition to the handling fee, you must also pay interest when withdrawing cash from an overdraft with a transportation credit card. You do not enjoy the interest-free treatment. Cash interest will be charged from the date your overdraft withdrawal is entered into your account, and the daily interest rate is 0.05%. Compound interest is earned on a monthly basis.

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

Yes, Bank of Communications credit card loan for car purchase refers to the installment payment that the cardholder applies to the bank after agreeing to pay the down payment. There are three types of installments: 12 months, 24 months and 36 months. After passing the review, you can go to the 4S store that cooperates with the Bank of Communications to choose your favorite car model.

Applying for a Bank of Communications car loan requires the following conditions:

A natural person with full civil capacity (including Hong Kong, Macao, Taiwan and overseas persons) and a fixed residence in the local area .

The age plus loan period shall not exceed 60 years old.

The applicant must be in good condition and have a legitimate occupation and a stable source of income.

In order to meet market demand, Bank of Communications has launched a credit card installment car purchase business - e-car loan. In Bank of Communications' loan car purchase business, there are four types of guarantees: mortgage, pledge, guarantee and credit. , or a combination of guarantees.

Among them, the mortgages are mainly houses, commercial houses and commercial and residential buildings. If housing is used as collateral, the maximum amount shall not exceed 70% of the value of the mortgage. If a dual-use house is used as collateral, the maximum credit limit shall not exceed 50% of the value of the collateral.

Pledges include time deposit certificates, certificated treasury bonds, savings treasury bonds, etc. For high-quality customers with stable income and good credit records, you can also apply for e-car loans using credit methods. The procedure is very simple, and it is the preferred car consumer loan product for middle- and high-income people.

Credit card installment car purchase is a credit card installment business launched by banking institutions. The credit limit that cardholders can apply for is 20,000-200,000, depending on the situation of some banks; there are three types of installments: 12 months, 24 months, and 36 months.

There is no loan interest rate for credit installment car purchases. The bank only charges handling fees. The handling rates for different installments are different.

Scope of application:

Since the credit limit of general credit cards is limited, card-issuing banks generally require cardholders to provide proof of financial resources. Financial proofs recognized by banks include real estate certificates or commercial housing sales (pre-payment). Sales) contract and house purchase invoice. Some banks require the credit card itself to have an overdraft limit of 100,000 yuan to 200,000 yuan. Some banks allow cardholders with good credit to apply for a separate credit limit to purchase a car in installments.

Obviously, more and more banks across the country will launch credit card installment car purchase services in line with customer needs. Currently, there are China Construction Bank Dragon Card installment car purchase business, Bank of China "Car Loan Tong" business (only in Beijing area), China Merchants Bank "Car Purchase Easy" business, China Minsheng Bank "Car Purchase Tong" business, and Industrial and Commercial Bank of China Peony Card installment car purchase business. , the installment car purchase business of some local city commercial banks, such as Hankou Bank, Ningbo Bank, etc.

However, each bank has its own threshold: China Merchants Bank requires a down payment of 30% of the remaining car payment before installment, while ICBC said it can pay in full. Some banks offer zero handling fees for some models. In addition, the installment rates are different for different car models and different terms. Some banks only provide installment for designated car models.

Baidu Encyclopedia of Credit Card Installment Car Purchase

This is the introduction of whether Bank of Communications credit card can be used for loans.