How to repay a car loan with a credit card

Car owners can use their credit cards to repay at the mortgage bank's ATM, or they can bind their credit cards to bank cards to set up automatic repayments. Cardholders only need to bear a certain handling fee to repay the car purchase amount in monthly installments.

There are several points to note when repaying a car loan with a credit card: 1. Credit cards cannot pay for the down payment of the car; 2. There is a one-time handling fee for credit card car purchases, which needs to be paid off during the first repayment; 3. If the car buyer pays off the money in advance, the one-time handling fee will not be refunded.

At present, this method of loan car purchase is very popular among car buyers, but credit card repayment of car loan is very important to the credit status of the card holder. If the credit card customer is in poor condition, has overdue or arrears records, etc., this loan method will not be approved. You must hold a bank credit card for a certain period of time and have a certain credit limit.

For this kind of loan, the bank does not charge loan interest, but it has to pay a certain handling fee. The bank usually deducts the fee in one time. The amount of the handling fee is generally determined by the loan term and loan model. The handling fee charged for a one-year loan period is between 2% and 5.5%, and the handling fee for a two-year loan period is between 6.5% and 7%. Each major bank may be different, and car owners can go to the bank for consultation. (Pictures/texts/photographs: Wu Binbin) @2019

I would like to ask if a car loan credit card can be paid off in one go

A car loan credit card can be paid off in one go. Also called early settlement, you must actively contact the bank to apply for early settlement. The bank will agree to modify the next bill amount and put the unpaid principal and interest into the next bill. It does not mean that if the user deposits all the money into the car loan credit card at once, it will be paid off in one go. If the bank does not agree, all the money will become overpayment.

In addition, some banks need to pay liquidated damages for early settlement. The specific situation is mainly based on the loan contract.