1. Shanghai Pudong Development Bank credit card installment car buying business: Car installment business refers to Shanghai Pudong Development Bank credit card holders, designated car dealers at the Shanghai Pudong Development Bank Credit Card Center When purchasing a designated brand or model of car, you can apply for installment payment from the credit card center. After the application is approved and the cardholder pays the down payment and handles necessary procedures such as insurance, the credit card center will advance the remaining amount of the total price of the vehicle purchased by the cardholder (referring to the purchase invoice amount) to the merchant, and the cardholder will then follow It is agreed that the installment amount will be repaid in several installments and a certain handling fee will be paid. Related reading: Buy a car with a large credit card with zero down payment? A must-see for car buyers!
2. How to apply for installment car purchase with Shanghai Pudong Development Bank credit card: (1) Go to the merchant to confirm the car model and submit the application materials to the Shanghai Pudong Development Bank sales staff; (2) Receive the approval result notification, pay the down payment and submit the application to Shanghai Pudong Development Bank Submit the payment materials to the bank; (3) Receive the car pickup notice from the merchant and drive the car home easily! Extended reading: Women's overdraft credit card, buying and selling cars, earning commissions, making money with money
3. Number of installments and handling rates: Handling rate for 12 installments: 4-5.5 for 24 installments; 8-10.5 for 24 installments; 12-14.5 for 36 installments. Extended Read What are the pitfalls of credit card installment payments?
4. Installment repayment method The principal of each installment is amortized evenly according to the number of installments applied by the cardholder and approved by the Shanghai Pudong Development Credit Card Center. Each month is one installment. Less than one month will be charged as one month. The handling fee is charged monthly based on the principal amount of consumption multiplied by the handling rate. The installment principal and monthly handling fee will be fully included in the minimum payable amount for the current period. Generally speaking, there is no interest when buying a car by credit card installment payment, and there will be some expenses in handling fees. However, for lower handling fees, it is still a better choice than the other two loan methods. Further reading: What banks don’t tell you about credit card installment repayment fees