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 200,000-200,000, 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 buying a car by credit installment, and the bank only charges a handling fee. The handling fee rate is different in different installments.

application area

1. Due to the limited credit line of general credit cards, the issuing bank will generally require the cardholder to provide proof of financial resources. The sources of funds recognized by the bank include real estate license or commercial housing sale (pre-sale) contract, purchase invoice, etc. Some banks require a credit card overdraft limit of 654.38 million-200,000 yuan, and some banks allow cardholders with good credit to apply for credit lines to buy cars by installments.

2. Obviously, with the demand of customers, more and more banks will launch credit card installment car purchase business nationwide. There are China Construction Bank's Longka installment car purchase business, China Bank's "Car Loan Link" business (Beijing only), China Merchants Bank's "Car Easy" business, Minsheng Bank's "Car 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 make a down payment of more than 30% before it can be phased, and ICBC says it can be phased in full. Some banks can also get zero handling fees for some models. In addition, different models have different installment rates in different periods, and some banks only have designated models for installment.

Program flow

(1) filing an application. After you are optimistic about the vehicle to be purchased, fill out the Application Form for Automobile Consumption Loan and the Credit Status Questionnaire, and submit them to the loan bank together with the relevant certificates of personal situation.

(2) The bank conducts pre-loan investigation and approval. If the loan conditions are met, the bank will promptly notify the borrower to fill in various forms.

(three) notify the borrower to sign the loan contract, guarantee contract and mortgage contract, and go through the mortgage registration and insurance procedures.

(4) Loans issued by banks (directly transferred by banks to the account of automobile dealers).

(5) The borrower pays the down payment to the car dealership, and handles the car pick-up formalities with the passbook and the car pick-up note issued by the bank.