With the continuous development of social economy, cars have become a means of transportation for many people, and buying a car has also become the pursuit of many young people. However, not everyone can pay the high cost of car purchase at one time. Many people will choose loans or installment payments. So is it better to buy a car by loan or by credit card? This paper lists the differences between buying a car with a loan and buying a car with a credit card in several aspects. As for which is better, card friends can choose according to their own situation.

I. Bank loans

The benchmark interest rate for bank loans: 6% from 6 months to 1 year, and 1 year to 3 years as the application conditions: buy a limited range of cars from a special dealer recognized by the bank, and have stable professional income or assets that are easy to realize.

Advantages: the interest rate is relatively low; The cycle can be flexibly selected, and the interest on prepayment will be saved.

Disadvantages: the loan time is relatively long; Loan approval is troublesome and strict; The down payment ratio is higher.

Second, credit card installment.

Credit card installment fee, 12 The minimum installment fee for the bill is the floating rate of each installment fee under the benchmark rate. Application conditions: stable income and no bad credit record; It is best to have real estate, and the bank has quality customers.

Advantages: low threshold for credit card installment, simple procedures and short approval time.

Disadvantages: the repayment period after installment is relatively short, the applicant's credit is required to be high, and the prepayment fee cannot be less.

To sum up, if the cardholder only has short-term financial difficulties, he can choose credit card installment. If the loan time exceeds half a year, it is recommended to choose a bank loan, which will be relatively cost-effective. Whether buying a car is a bank loan or a credit card installment, card friends must ensure that they can repay on time. I want to buy a car by credit card, and introduce the credit card application entrance; If you want to borrow money to buy a car, you can click

The threshold is low, the loan is fast, the amount is high, and the most important thing is not to charge any fees, but also to ensure the safety of personal information.

Which is more cost-effective, credit card installment or loan?

It depends on whether credit card installment or loan is more cost-effective. If the amount is not large, credit card is recommended. The cost of bank loans is low, but the procedures are cumbersome and it takes time. However, if it is 654.38+ million, credit card is better. Credit card installment is relatively simple, but the cost is high. Even if it costs several thousand yuan in stages, the cost will not be much higher.

Credit card is a credit certificate issued by a commercial bank or credit card company to eligible consumers. Credit card is a kind of card with name, expiration date, number and cardholder's name printed on the front. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.

Loan refers to a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. A simple and popular understanding is that borrowing money requires interest. Through loans and monetary funds, banks can meet the needs of society for supplementary funds, expand reproduction and promote economic development; At the same time, banks can also obtain loan interest income and increase their own accumulation.

The "three principles" of loans refer to safety, liquidity and efficiency, and are the fundamental principles of commercial banks' loan operation. Article 4 of the Law of People's Republic of China (PRC) Commercial Bank stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and manage themselves by themselves in accordance with the principles of safety, mobility and efficiency." 1, loan security is the primary problem faced by commercial banks; 2. Liquidity refers to the ability to recover the loan according to the predetermined period or realize it quickly without loss of land, so as to meet the needs of customers to withdraw deposits at any time; 3. Efficiency is the basis of sustainable operation of banks. For example, issuing long-term loans, the interest rate is higher than short-term loans, and the benefits are good. However, if the loan term is longer, the risk will increase, the safety will decrease and the liquidity will weaken. Therefore, the "three characteristics" should be harmonious, so that the loan will not go wrong. Interest refers to the remuneration paid by the borrower to the lender for obtaining the right to use funds. It is the use price of funds (that is, the loan principal) in a certain period of time. The loan interest can be calculated in detail by the loan interest calculator. In civil law, interest is the legal result of the client.

Is credit card installment appropriate or loan appropriate? Bibi knows very well.

Many people who are short of money will borrow money in two ways, one is credit card installment and the other is loan. Although everyone can get a loan, the cost is different, so many people have been struggling and don't know how to choose. So, is credit card installment appropriate or loan appropriate? Let me give you a brief introduction.

Is credit card installment appropriate or loan appropriate?

It can be said that if you can choose a loan, try to get a loan.

1, credit card installment is relatively easy to handle, but the annualized interest rate is relatively high, which is not directly calculated by multiplying the installment interest rate given by the bank by the number of installments, because the actual occupation time of credit card installment principal is not that long.

No matter how many installments a credit card repays, the handling fee and principal of each installment are fixed, and the handling fee will not be reduced because of the reduction of the principal of each installment. The actual annual interest rate of a credit card is actually twice the book interest minus 1, which is the same as the monthly interest rate. The real annual interest rate is not that simple, or even higher.

The interest of the loan is easy to calculate. The general monthly interest rate is directly multiplied by the loan term, 1 year multiplied by 12 months. Moreover, most of the loans still support borrowing and returning. Although the loan period is selected when borrowing, the interest is calculated according to the actual number of days borrowed, but it should be noted that the daily interest and monthly interest are charged differently.

The daily interest is calculated from the date of borrowing to the date of repayment; Calculate the interest on a monthly basis is to collect interest in the current month, not as many days as it takes in the current month.

The above is the introduction of "credit card installment is appropriate or loan is appropriate". Finally, I want to remind you to choose according to your actual situation and real needs.

Which is more cost-effective to buy a car with a credit card or a car loan?

First of all, compare the cost performance from the advantages and disadvantages.

1, credit card to buy a car

Advantages: (1) Simple procedures and short approval time.

(2) Credit card installment car purchase has preferential activities.

(3) It is most convenient to directly brush a small amount (in line with the quota) and the interest rate is the lowest.

Disadvantages:

(1) The repayment period is relatively short, generally the longest is no more than 3 years.

(2) The requirements for the applicant's past credit are relatively high.

(3) There are restrictions on the types of cars that banks can buy with credit cards.

(4) Credit card loans cannot be used for the down payment of car purchase.

(5) Car credit card loans are limited.

2. Car loan

Advantages:

(1) The vehicle type is not limited. No matter what kind of car, you can usually buy a car through bank loan channels.

(2) The loan amount is large, and zero interest rate is specified for vehicle finance projects on a regular basis.

(3) The repayment period can be flexibly selected, and some can even reach 5 years.

Disadvantages:

(1) Lending time is relatively long.

(2) the examination and approval is troublesome, and the requirements for loan conditions are strict, and some even need real estate mortgage.

(3) The down payment ratio is relatively high, and only 70% of the loan can be applied according to the application materials.

(4) The car purchase rate is high.

(5) Non-civil servants can only apply for three years.

Second, it is more cost-effective in terms of interest.

Buying a car by credit card: the minimum installment fee rate for the third installment of credit card is 2.7%, the minimum installment fee rate for the sixth installment is 4.5%, the minimum installment fee rate for 12 is 7.2%, and the minimum installment fee rate for the 24th installment is 14.4%. The longer the term, the higher the interest rate, and the more fees need to be paid.

Car loan: RMB loan business with designated consumption purposes issued by banks to individual customers, which can be mainly used for consumer personal loans such as personal housing, cars and general student loans. For consumer loans, the bank's benchmark interest rate is 5.6% for 6 months, 6% for 6 months to 1 year, and 6. 1 year to 3 years.

Summary: From the advantages and disadvantages of buying a car with a credit card and a car with a loan, as well as the rates, if the loan can be paid off within half a year, it is recommended to use a credit card to pay by installments, and it will be more cost-effective to apply for a bank loan after half a year.

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

Bank car loan is more cost-effective, and car consumption loan repayment is more flexible. Its longest term can reach five years, and it can provide equal principal and interest. The capital is average, and the repayment method of down payment or paying more and less in the middle is much more flexible than credit card installment, which is suitable for people with phased income. For people who change cars frequently, it is also a way to reduce the cost of car purchase.

The amount of automobile consumption loan is much higher than that of credit card installment. Credit card installment purchase is mainly aimed at individuals or families who buy cars for the first time. Generally speaking, the upper limit of staging is 200,000 yuan. Bank car loans can reach up to 80% of the car price, and the loan amount can be enlarged to 500,000 yuan.

Credit card installment car purchase process

(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.

So much for the cost-effective introduction of installment payment and loan.