How to buy a car with a credit card

Credit card car purchase process

1. Buy a car model: go to a 4S shop where you can apply for a loan brand

2. Apply: after you are optimistic about the car to be purchased, fill out the application form for automobile consumption loan and the credit status questionnaire, and submit it to the loan bank together with relevant certificates of personal situation to apply for a credit card loan.

3. Waiting for approval: the bank conducts pre-loan investigation and approval. Banks will promptly notify borrowers to fill in various forms if they meet the loan conditions. (The bank's audit time varies from 4 minutes to 3 days)

4. Signing a contract and doing business: notifying the borrower to sign a loan contract, a guarantee contract and a mortgage contract, and going through mortgage registration and insurance procedures, paying down payment, handling fees, purchasing vehicle insurance and doing mortgage business.

5. Lending: the bank issues loans (which are directly transferred to the account of the car dealer by the bank).

6. car pick-up: the borrower pays the down payment to the car dealer, and handles the car pick-up formalities with the passbook and the car pick-up slip issued by the bank.

Can I use a credit card to buy a car?

It is ok to use a credit card to buy a car. As long as the amount of the credit card is enough to pay the down payment or the full amount of the car, you can use a credit card to buy a car.

There are two ways to buy a car by swiping a credit card:

1. You can swipe a credit card to buy a car by installments, and you can apply at the auto loan dealer. Most car dealers support swiping a credit card to buy a car by installments, but the difference is that the banks that specify the installment cooperation are different;

2. Pay in full by credit card. After payment, you can apply to the bank for installment repayment according to your own economic situation. In addition, full payment requires that your credit card limit is higher than or equal to the car price.

How to buy a car with a credit card is a simple three-step process

Buying a car with a credit card is a problem that many people pay attention to. How to own your own car as soon as possible, and take stock of how to buy a car with a credit card, what is the process of buying a car by stages, how to operate a credit card to buy a car, etc. I hope everyone can drive their favorite car as soon as possible.

Step 1: Apply for a credit card

A number of banks support car purchase by installment with credit cards, but the implementation process is basically the same.

1. The official business of China Merchants Bank's credit card installment car purchase is called "Car Purchase Easy". All credit card holders can apply for it, but the review process is strict. Only those who have been invited by China Merchants Bank or have been certified for a long time can pass the loan approval.

2. The biggest advantage of China Construction Bank's "Longka car installment payment" lies in its relatively low handling fee. For example, the highest handling fee rate is only 3% if it is repaid in 12 installments, and some models can enjoy handling fee. For example, if it is repaid in 24 installments, the highest handling fee is only 7%, which still has considerable advantages in other banks that handle car purchase by installments.

handle the credit card quickly, and get the card within 24 hours at the earliest

Step 2, select the car model and go through the formalities

1. The user chooses the car at the designated dealer;

2. Fill in the application form and submit the application materials;

3. The bank conducts the examination and approval (the examination and approval time ranges from 4 minutes to 3 days);

4. Go through the relevant formalities in the bank after approval;

Step 3: Pay the down payment and pick up the car

1. Low handling fee and zero expected annualized interest rate:

Compared with car purchase with bank loans and car purchase with loans from auto financing institutions, there is no interest on car purchase by credit card installment. Of course, the so-called zero expected annualized interest rate will pay for the handling fee, but for the lower handling fee, it is a better choice than the other two loan methods.

2 Fast approval:

Fast approval is also an advantage of credit card installment. In some banks, credit card loans can be approved as soon as 4 minutes, and the longest time will not exceed 3 days. Although the approval speed is fast, it is also caused by some limitations of credit card purchase, and everything has its own advantages and disadvantages. The disadvantages of credit card installment purchase will be mentioned later.

3 Cheap and affordable:

Most credit card banks have credit card swiping activities, and after buying a car, they can also exchange the corresponding credit card gifts at the bank, which can be said to kill two birds with one stone.

Can I buy a car with a credit card?

You can buy a car with a credit card. At present, there are two ways to buy a car with a credit card:

1. Buying a car by stages with a credit card is very convenient, and the threshold is still low. Just apply at the auto loan dealer;

2. Pay in full by credit card. After payment, you can apply to the bank for installment repayment according to your own economic situation. In addition, full payment requires that your credit card limit is higher than or equal to the car price.

so much for the introduction of how to buy a car with a credit card.