1. How does China Merchants Bank obtain a loan to buy a car?
Credit card loan to buy a car is a credit loan, does not require a guarantee and the process is simpler.
Card holders need to provide a valid credit card and personal identification. They also need to ensure that the credit card has no bad records in the past, and it is best to have good credit card swiping and repayment records.
Some banks also require applicants to have a stable job or income.
If the cardholder has not yet applied for a credit card from the bank, he or she can directly apply for a credit card loan to buy a car, and the bank will issue a credit card to the cardholder along with the business.
Specific process:
1. You can first call the bank customer service number to check whether you can participate in the credit card loan car purchase business and how much the exclusive car purchase quota can be approved;
2. The cardholder goes to the designated dealer store to apply for installment car purchase with a valid ID card;
3. The cardholder confirms the purchased vehicle, fills out the order form, and submits it to the bank and the bank's backend for verification;
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4. After passing the car purchase qualification review, the cardholder pays the down payment (generally cannot use the credit card limit), and handles registration, insurance, and mortgage (some customers can be exempted from mortgage, and the final result is subject to the review) ;
5. The bank backend will conduct loan review, and the cardholder will pick up the car after completing the loan procedures.
What is the interest rate on a credit card loan to buy a car?
There is no interest on credit card loans to buy a car, but installment handling fees will be charged based on the number of installment repayments. The installment handling fees stipulated by each bank are different.
The editor has sorted out the handling fees for car purchases with credit cards from several banks for reference by cardholders.
Agricultural Bank of China
(Best offer)
12th period - 4.5%
24th period - 7.5%
Instalment 36——10.45%
Industrial and Commercial Bank of China
Instalment 12——5%
Instalment 24——8%
Issue 36——11%
Bank of China
Issue 12——4%
Issue 24——8%
36 Period—12%
China Merchants Bank
12th period—5.5%
24th period—10.5%
36th period— —14.5%
Minsheng Bank
12th period—5.8%
24th period—11.6%
36th period—17 %
(Note: The above data are for reference only, and are subject to the official data of each bank.)
Credit card loans to buy cars are less likely to be paid in full installments, and the cardholder generally needs to pay in advance A certain proportion of down payment. For example, China Merchants Bank requires cardholders to pay at least 30% of the net car price (the down payment for some models is as low as 20%).
The remaining balance can be applied for a credit card loan and repaid in installments. Of course, the loan amount that each cardholder can apply for is different, so you can consult the card issuer.
Things to note when buying a car with a credit card loan:
1
Most banks have designated cooperative car manufacturers, which have certain restrictions on the models consumers can choose.
2
Some banks require cardholders who apply for credit card loans to buy cars to make vehicle mortgages and purchase designated car insurance in accordance with regulations. It is recommended that cardholders communicate with the bank in advance to understand.
3
Since credit card loans to buy cars are essentially credit loans, banks pay more attention to the personal credit of cardholders.
4
The maximum installment period is 36 periods (3 years), and the actual operation is controlled within 12-24 periods.
What are the advantages of using a credit card loan to buy a car?
1. There is no need to provide corresponding property guarantee when buying a car with a credit card loan, eliminating complicated procedures such as intermediary notarization and additional fees;
2. The application process is simple and easy to approve.
2. How to handle the installment purchase process of a car with China Merchants Bank?
1.
To apply for an online reservation, fill out the car installment application form, select the city and brand of car you intend to purchase, and submit the application to obtain the loan limit.
2.
The staff of China Merchants Bank will contact you to assist with the application. After receiving the application, the staff of China Merchants Bank will call to confirm your needs and tell you relevant matters. If you have If you have any questions, you can directly communicate with the staff of China Merchants Bank.
3.
China Merchants Bank Qualification Review China Merchants Bank will review the applicant's qualifications, and will grant a loan amount after passing the review.
4.
To pay the down payment, apply for insurance, and apply for China Merchants Bank car installment business, you need to use a payment method other than your own China Merchants Bank credit card, and pay at least 30% of the net car price (down payment for some models) as low as 20%).
3. How to go through the process if you buy a car with a loan from China Merchants Bank?
Hello, first choose the car you like, then fill in and submit the CMB Car Purchase Application Intention Form. Within 1 hour, the CMB account manager will tell you the result of the review over the phone. If the review is passed You need to prepare relevant personal information and other materials in advance, and then the loan approval will be approved by insurance in a few days, so that your loan purchase
4. How to handle the installment car purchase process of China Merchants Bank
If you have already seen the car model you want to buy through a car dealer, you can check with the car dealer whether it has cooperation with China Merchants Bank. If not, you can try to contact the local China Merchants Bank counter directly for a loan. The department will handle your loan application, and the handling bank will need to specifically review your situation to determine whether it can be processed.