Can I get a loan to buy a car with a credit card? Don’t be harmed by bad credit reports

Banks issuing credit cards not only provide cardholders with overdraft funds, but also provide some installment services. , which can relieve certain financial pressure on cardholders, but handling these services requires paying certain fees to the bank. Many people ask, can I get a loan to buy a car with a credit card? In fact, a credit card loan to buy a car is the car installment business of a credit card. So can I get a loan to buy a car if my credit card is overdue? Specific issues must be analyzed in detail.

Credit cards can be used to get loans to buy cars

Credit card loans to buy cars are actually a kind of credit card installment business handled by banking institutions. The credit limit that cardholders can apply for is generally between 20,000 and 200,000. Ah Jin, 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.

You can get a loan to buy a car with a credit card, but the issuing bank will generally require the cardholder to provide additional proof of financial resources, including a real estate certificate or a commercial housing sales contract and a purchase invoice. Some banks require the credit card itself to have 100,000 yuan. -An overdraft limit of 200,000 yuan. Some banks allow cardholders with good credit to apply for a separate credit line to purchase a car in installments.

Limitations on how to get a car loan if your credit card is overdue

Many people carelessly forget to repay when using their credit cards, resulting in overdue payments. This situation generally has little impact on the loan. . As for serious and malicious overdue behavior, banks will not tolerate it and will directly put them on the blacklist. If you want to get a loan to buy a car again, you will have to wait until the bad credit record is eliminated in 5 years.

If your credit card is overdue, you can get a loan to buy a car, but you cannot exceed these three points:

1. The total overdue amount is less than 1,000 yuan;

2. The overdue amount has not been exceeded continuously. More than 90 days;

3. Within two years, no more than 6 overdue payments shall be made.

In addition to the above three items, the cardholder is also required to go to the bank to issue a non-malicious debt certificate and submit it to the bank when applying for a loan.

Notes on credit card loans to buy a car

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

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

3. Some bank credit card car purchase fees need to be paid in one lump sum when the first installment is repaid;

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

Can I buy a car with a credit card?

Can I buy a car with a credit card? You can choose to pay in full or in installments. But relatively speaking, installment payment may be cheaper than the full payment. Many people think that it is easier to pay in full. In fact, the handling fee for full payment is more expensive because it is more complicated.

1. Procedure for credit card installment car purchase

1. Submit the application. After looking forward to purchasing a vehicle, fill out the automobile consumer loan application form and credit status survey form, and submit relevant personal certificates to the lending bank;

2. The bank conducts pre-loan investigation and approval. If the borrower meets the loan conditions, the bank will promptly notify the borrower to fill in various forms;

3. Notify the borrower to sign a loan contract, guarantee contract and mortgage contract, and handle mortgage registration and insurance procedures;

4. Bank 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 apply for withdrawal with the passbook and the car delivery note issued by the bank. Car procedures.

2. Which bank credit card is easy to apply for

1. Bank of Communications, Bank of Communications credit card has a very low threshold. You only need to provide your ID card and your employment certificate (such as Work permit, label or stamped unit income certificate are also acceptable, and even the original business card and a copy of the institution card);

2. China Merchants Bank Credit Card: China Merchants Bank is the first domestic credit card brand, but it holds Friends who have credit cards from this bank, this is also because its threshold for card approval is not high. However, its limits are high and low. Of course, this basically determines the applicant’s property and income;

3. China Everbright Bank: China Everbright Bank’s credit card application is also very good. Its card approval threshold is very low. Some cardholders reported that their applications were approved without submitting proof of employment and property;

4 .Minsheng's credit card: It is more difficult to apply for Minsheng Bank's card than to get it by hand. If you are not from this city, you do not agree with the current card. Some discriminate against people with rural household registration. However, its quota is higher than that of other banks;

5. Industrial and Commercial Bank of China: Industrial and Commercial Bank of China can be said to be one of the four best state-owned banks to apply for credit cards. However, the threshold for this batch of cards is relatively high, but it is the first to issue cards.

Can I buy a car 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 is used to buy a car every month. For car loan repayments. 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 to find it Account managers, they will help you handle everything, usually within 15 working days.

Can I buy a car in installments if I haven’t paid off my credit card?

Can I buy a car?

Failed to pay off your credit card has nothing to do with car loan application. As long as your personal credit record is good and you have normal income flow, you can apply for a car loan.

Documents required to purchase a car with a loan: Personal loan application form. Valid identity certificates for yourself and your spouse. Proof of occupation, position and income of myself and my spouse.

Marriage certificate (if you are unmarried, you must provide proof of unmarried status, except those who have not reached the legal age of marriage) and household registration book. Original ID card, household registration booklet or other valid residence documents, and provide their copies. Car purchase agreement, contract or letter of intent to purchase a car signed with the dealer. Proof that down payment has been deposited or paid. Supporting documents or materials required for guarantee. Other documents required by the partner institution.

Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder, and then allows the cardholder to pay in installments The process of repaying money to the bank and paying handling fees. The bank will deduct consumption funds and handling fees from the cardholder's credit card account in installments based on the cardholder's application, and the cardholder will repay according to the monthly credit amount.

In the early days of the credit card installment business, banks often promoted it as "interest-free", and indeed many citizens were "fooled". In fact, interest-free is not free, it’s just called something different. Generally speaking, the one-year credit card installment payment fee is generally lower than the one-year cash withdrawal interest of RMB 18, and higher than the bank's one-year commercial loan interest of RMB 5.31. It is worth mentioning that commercial bank loan interest rates have been reduced several times since last year, but the standards for credit card installment fees and cash withdrawal interest have rarely changed. Although the standards for credit card installment fees vary from bank to bank, the calculation method is roughly the same.

Assume that the installment amount is 1,200 yuan, divided into 12 installments, with each installment (month) repayment of 100 yuan, the handling fee is 0.6/month, and the actual monthly deduction is 100 1200 × 0.6 = 107.2 yuan. If other factors are not considered, the convertible nominal annual interest rate is 7.2. However, the cardholder does not always owe the bank 1,200 yuan. In the last month, he actually only owed the bank 100 yuan, but the bank still charged a handling fee of 1,200 yuan. According to calculations, the true annual interest rate paid by cardholders is approximately 15.48. According to the correct calculation formula, it should be 12006(1 6)^12/((1 b)^12-1)=103.94 yuan, which means an extra handling fee of 3.2 per period.

Can I get a loan to buy a car if I have a credit card?

It is possible. 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 statement. 4. Many banks and 4S stores have cooperation, and car loans are very simple to apply for. 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 more than 6 times in the past two years, or the overdue time exceeds 90 days, the application for a car loan will be directly rejected. Secondly, because the credit card limit will occupy the personal credit limit, if the credit card has accumulated If the credit limit is too high, or if the credit usage rate is too high, it will become more difficult to apply for a car loan due to the high repayment pressure and increased borrowing risks. Applying for a car loan mainly examines the applicant's personal credit, repayment ability and debt ratio. If you simply have a credit card, are not overdue, and have not used the credit limit much, and the applicant has a high and stable income, then there will not be a big problem.

Car loan application process:

First of all, the borrower needs to prepare ID card, proof of residence, work certificate, loan purpose certificate and other supporting materials, go to a bank and fill out a Application form, fill out a contract.

Then, wait for the bank’s pre-loan qualification investigation and approval. If the borrower meets the loan conditions specified by the bank, the bank will notify the borrower to fill in some loan form materials. If the loan applied for by the borrower requires mortgage or guarantee, it is also necessary to sign a guarantee contract, a mortgage contract, and go through mortgage registration procedures; if the loan is applied for, there is no need to sign such a contract.

Secondly, banks issue loans to lenders. Generally, banks will issue loans after approval within 2 to 3 weeks or 1 month, and the loan can be released as soon as 1 day. Finally, the borrower pays the down payment to the car dealer and goes through the car pick-up procedures with the passbook and the car pick-up note issued by the bank.

Note: In the process of applying for a personal car consumer loan, the applicant needs a copy of the ID card, household register, marriage certificate, income certificate, bank statement, real estate certificate, etc. formalities.

If you have unpaid credit cards and there is no bad information in your credit report, you can get a loan to buy a car. If your credit card payment is overdue and your application for deferment has been approved, it will not affect your personal credit record. According to Article 11 of the "Interim Measures for the Administration of Personal Loans".

Personal loan applications should meet the following conditions: (1) The borrower is a citizen of the People’s Republic of China with full capacity for civil conduct or an overseas natural person who complies with relevant national regulations; (2) The purpose of the loan is clear and legal ; (3) The loan application amount, term and currency are reasonable; (4) The borrower has the willingness and ability to repay; (5) The borrower's credit status is good and there is no major bad credit record; (6) The lender requires Other conditions.

If you apply for a China Merchants Bank card and apply for a car loan through a savings card, if you have already gone through the car dealer and have taken a fancy to the car model you want to buy, you can confirm it through the car dealer. Whether you have cooperation with China Merchants Bank? If not, you can try to directly contact the local personal loan department of China Merchants Bank to handle your loan application. The handling bank will need to specifically review your situation to determine whether it can be processed. If you use a credit card to apply for car installment: Our bank mainly distinguishes the installment application methods of different cardholders based on their card usage performance (such as card holding time, consumption habits, fixed limit, etc.), career status, income, etc. and the application materials that need to be submitted.

That’s it for the introduction of whether a credit card can be used to buy a car in installments.