Can I pay the down payment by credit card when buying a car?
You can pay the down payment by credit card when buying a car.
car purchase by credit card installment is a credit card installment business launched by banking institutions. The credit limit that cardholders can apply for is 2,-2,, depending on the situation of some banks; There are three stages: 12 months, 24 months and 36 months.
There is no loan interest rate for car purchase by credit installment, and banks only charge handling fees, with different handling rates in different installments.
Scope of application
1. Due to the limited credit line of general credit cards, card-issuing banks generally require cardholders to provide proof of financial resources. The financial resources recognized by banks include real estate licenses or commercial housing sales (pre-sale) contracts and purchase invoices. Some banks require credit cards to have an overdraft limit of 1,-2, yuan, and some banks allow cardholders with good credit to apply for credit lines to purchase cars in installments.
2. Obviously, there will be more and more banks offering credit card installment car purchase business in China with the needs of customers. There are China Construction Bank's Longka installment car purchase business, China Bank's "Car Loan Link" business (only in Beijing), China Merchants Bank's "Car Purchase Easy" business, Minsheng Bank's "Car Purchase Link" business, China Industrial and Commercial Bank's Peony Card installment car purchase business, and some local city commercial banks' installment car purchase business, such as Hankou Bank and Bank of Ningbo.
3. However, each bank has its own threshold: China Merchants Bank has to pay more than 3% down payment before it can be phased, while ICBC says it can be phased in full. Some banks can also get zero handling fee for some models. In addition, different models have different installment rates for different periods, and some banks only have designated models for installment.
Procedures
(1) Apply. After optimistic about the vehicle to be purchased, fill in the application form for automobile consumption loan and the questionnaire on credit status, and submit it to the loan bank together with the relevant certificates of personal situation.
(2) The bank conducts pre-lending investigation and approval. Banks will promptly notify borrowers to fill in various forms if they meet the loan conditions.
(3) notify the borrower to sign the loan contract, guarantee contract and mortgage contract, and go through the formalities of mortgage registration and insurance.
(4) loans issued by banks (directly transferred by banks to the accounts of car dealers).
(5) The borrower pays the down payment to the car dealer, and goes through the formalities of car pick-up with the passbook and the car pick-up slip issued by the bank.
Can I use a credit card for the down payment of a car loan?
Answer:
Yes, but it should be noted that you don't use a credit card to buy a car directly. It is best to purchase through car loans, usually through credit cards.
To handle this kind of business, take the e-flash loan of China Merchants Bank as an example, I need to promise that the proceeds will only be used for consumption (including but not limited to decoration, home appliances, wedding, car purchase, etc.), and shall not be used for non-consumption and investment fields. These car purchases can be loaned quickly, and it is enough to consider the repayment time and amount in line with the reality.
Buying a car by swiping a credit card depends on your financial situation. If you have money for buying a car or paying a down payment, you can swipe your credit card first, and you can charge interest for one more month.
if you don't have the money to buy a car, you want to pay by credit card, and then pay back the credit card in installments, which is not cost-effective. At present, most car dealers can apply for interest-free loans for two years, and the maximum loan can be 7%. Why do you have to pay interest by credit card in installments?
If you use a credit card to pay the down payment on a car, and then you buy a car with a loan, you need to use a credit card to pay the down payment on a car, because you don't even have the down payment.
You can use a credit card to buy a car first, there is no doubt about this.
Secondly, regarding the minimum down payment ratio, generally 3% down payment can be achieved, and some can achieve 2%.
if you want to buy a car with a loan, I suggest you choose some car brands with preferential loans, such as Skoda's 2-year interest rate. That will save a lot of interest. Because of the general loan, the interest is at least 1, to 2,.
but what you need to know is that the down payment ratio is only the ratio of the price of the naked car. Other purchase tax, insurance, licensing fees, etc. all need to be paid in cash.
based on the bare car price of 1, yuan, if the down payment ratio is 3%, the bare car needs to pay 3, yuan in cash, and the purchase tax, insurance, loan handling fee and so on are almost 2, yuan, so you need 5, yuan for the down payment. This needs to be known in case the budget is insufficient.
Last but not least, buying a car with a loan must be based on your own income. Don't let the loan repayment bring too much pressure to your life, which will be counterproductive.
can a credit card be used as a down payment on a car?
Answer:
Yes, but it should be noted that you don't just swipe your credit card to buy a car. It is best to purchase through car loans, usually through credit cards.
To handle this kind of business, take the e-flash loan of China Merchants Bank as an example, I need to promise that the proceeds will only be used for consumption (including but not limited to decoration, home appliances, wedding, car purchase, etc.), and shall not be used for non-consumption and investment fields. These car purchases can be loaned quickly, and it is enough to consider the repayment time and amount in line with the reality.
Buying a car by swiping a credit card depends on your financial situation. If you have money for buying a car or paying a down payment, you can swipe your credit card first, and you can charge interest for one more month.
if you don't have the money to buy a car, you want to pay by credit card, and then pay back the credit card in installments, which is not cost-effective. At present, most car dealers can apply for interest-free loans for two years, and the maximum loan can be 7%. Why do you have to pay interest by credit card in installments?
If you use a credit card to pay the down payment on a car, and then you buy a car with a loan, you need to use a credit card to pay the down payment on a car, because you don't even have the down payment.
You can use a credit card to buy a car first, there is no doubt about this.
Secondly, regarding the minimum down payment ratio, generally 3% down payment can be achieved, and some can achieve 2%.
if you want to buy a car with a loan, I suggest you choose some car brands with preferential loans, such as Skoda's 2-year interest rate. That will save a lot of interest. Because of the general loan, the interest is at least 1, to 2,.
but what you need to know is that the down payment ratio is only the ratio of the price of the naked car. Other purchase tax, insurance, licensing fees, etc. all need to be paid in cash.
based on the bare car price of 1, yuan, if the down payment ratio is 3%, the bare car needs to pay 3, yuan in cash, and the purchase tax, insurance, loan handling fee and so on are almost 2, yuan, so you need 5, yuan for the down payment. This needs to be known in case the budget is insufficient.
Last but not least, buying a car with a loan must be based on your own income. Don't let the loan repayment bring too much pressure to your life, which will be counterproductive.
can I use a credit card for the down payment of mortgage car purchase?
yes.
At present, there are two credit card purchase modes:
First, pay in full by credit card, and then apply to the bank for bill installment. The premise is: your credit card is available enough to pay for the car.
Second, most car dealers support using credit cards to buy cars in installments, but the difference is that different banks are designated to cooperate in installments, so before buying, you must remember to ask the merchants if you can buy cars in installments with this bank credit card in your hand.
The credit card installment car purchase method is more convenient to apply for, with lower threshold and the lowest handling fee, but the choice of car loan method should be based on your own situation.
for example, if you have a crush on a car with suitable performance and style, and the car price is 1, yuan, then by applying for credit card installment, after the down payment of 3% of the car price, you will have to pay interest of about 8,4 yuan for a loan of 7, yuan within three years.
However, if you save this credit card installment fund of 7, yuan and put it in the bank or invest it, at the current interest rate level, even if it is calculated as a three-year time deposit, there will be interest of about 8,9 yuan at maturity. The difference between the two is nothing more than that credit cards need to pay interest first and repay monthly. Therefore, carefully calculated, it is not uneconomical to buy a car by credit card installment.
expanding data
correct consumption method:
the consumption method of using credit card is basically the same as that of using debit card, but there are some small differences. Please follow the following methods when using a credit card to spend money:
1. When swiping a credit card, please don't keep the credit card away from your sight to avoid misuse or theft of the card;
2. Don't sign the blank or unfilled bill at will;
3. Before signing, please be sure to confirm whether the amount listed in the signed bill is correct, and pay attention to whether the consumption currency and the amount in words and figures are correct;
4. when using a credit card, you must sign your name to confirm your consumption, and generally you don't need to show your ID card or enter your password. However, please cooperate in the following situations:
Due to the operating standards, POS machines in some cities still need to enter passwords, so please enter 6 digits at will. If you spend a lot of money or buy easy-to-realize goods, it is recommended that you enter an accurate ATM private password.
5. When the transaction needs to be rewritten or cancelled due to an error in signing the bill, please ask the merchant to tear up all the original signed bills and keep the return certificate given by the merchant to avoid future occurrence;
6. after signing the account, please confirm that the credit card returned by the salesperson of the special merchant is really your own credit card;
7. after the transaction is completed, please keep the root contact of the cardholder who signed the bill so that it can be checked with the credit card statement sent by the bank.