In response to the issue of credit card installment car purchase, financial experts analyzed and compared 10 credit card installment car purchase plans mainly promoted by ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, China Merchants Bank, Minsheng Bank, Industrial Bank, Shanghai Pudong Development Bank and Guangzhou Bank. Compare rates, application thresholds, and repayment methods to find the credit card installment car purchase bank that costs the least and is most suitable for you.
Expert evaluation results: The handling fees of Agricultural Bank of China, Bank of China and ICBC are more favorable, and there is no upper limit; however, if consumers choose only for low rates, they may not be able to handle it in the end. Because behind the handling fee, there is an invisible threshold: application conditions. At this point, China Construction Bank and China Merchants Bank appear to be more "people-friendly".
The Agricultural Bank of China has the lowest rates and the highest people's livelihood; many banks and dealers like to use the slogan "interest-free" to attract customers, but in fact, interest-free does not mean free. In most cases, it is just an exchange of fees. Name - "handling fee". Among the 10 installment car purchase plans promoted by major banks, Agricultural Bank of China’s handling fees are the most favorable. Its handling rates for 12, 24 and 36 periods are 4.5%, 7.5% and 10.45%.
ICBC Guangzhou Branch is special. There are two different rate plans based on the application condition of whether there is real estate. If the applicant has real estate, the handling rates for the 12th, 24th and 36th phases are 4.48%, 7.89% and 10.78% respectively; if the applicant does not have a real estate, the handling rates for the 12th, 24th and 36th phases are 5%, 5% and 10.78% respectively. 8%, 11%. However, even based on the handling rate without real estate, ICBC's handling rate still ranks fifth among the nine banks evaluated. Bank of China's 12-term, 24-term, and 36-term handling rates are 4%, 8%, and 12% respectively. Because the 12-term handling fee is cheaper, it surpasses ICBC in average score and ranks second.
In comparison, China Merchants Bank does not have an advantage in handling rates. Its handling rates for 12, 24 and 36 periods are 5.5%, 10.5% and 14.5% respectively. Among the 9 banks, Minsheng Bank has the highest handling fee, with handling fees for periods 12, 24 and 36 being 5.8%, 11.6% and 17% respectively.
If we take the three-year installment of RMB 150,000 as an example, Agricultural Bank of China will charge a handling fee of RMB 15,675, while ICBC will charge RMB 16,170. Based on the current average rate of return of 4.5% for banking financial products, the financial income of 150,000 yuan in three years is 20,250 yuan.
China Construction Bank and China Merchants Bank have low thresholds; however, if consumers choose Agricultural Bank of China or ICBC just for the low rates, they may not be able to apply in the end. Because behind the handling fee, there is an invisible threshold: application conditions. Taking the Guangzhou area as an example, Agricultural Bank of China requires applicants or their immediate family members to own real estate in Guangzhou or surrounding cities. To obtain ICBC's lower-rate credit card installment plan, you also need to own real estate. In addition, Minsheng Bank and Industrial Bank also require applicants to have local real estate in Guangzhou, while Bank of China requires at least the guarantor to have real estate in Guangzhou. Of course, it would be even easier if you also happen to have your salary paid at their bank.
What should I do if I don’t have a house? You can also pray that you will find a good employer: the account managers of the above banks all said that if the applicant is a civil servant, the requirements can be relaxed appropriately. The Bank of Guangzhou restricts applicants to be national civil servants or employees of high-quality public institutions and listed companies. In comparison, China Construction Bank, China Merchants Bank and Shanghai Pudong Development Bank are much more "people-friendly": they have a good credit record and Guangzhou social security or sufficient flowing water.
After visiting 4S stores of many brands in Guangzhou, it was also confirmed that there is indeed a "threshold". The salesperson first asked the car buyer if he owned real estate in Guangzhou. After getting a negative answer, he suggested that the car buyer choose China Construction Bank or China Merchants Bank. Liang Haiwen, sales consultant of Guangzhou Fengya Automobile Trading Co., Ltd., said that except for China Construction Bank and China Merchants Bank, which can apply for social security, it is almost impossible for other banks now. If you have a high-quality guarantor, you can also try to apply for Bank of China.
In addition, except for a few promotional models, most banks require car buyers to pay 30% of the down payment themselves, and the down payment cannot be paid with the bank's credit card. Manager surnamed Wu from the Guangzhou Branch of China Construction Bank said, "Credit card installment car purchases are mostly pure credit guarantees, so it is reasonable to ensure that customers have 30% of the down payment ability, which can prevent the bank from taking too much risk. It is also true that China Construction Bank has set a limit of 500,000. Based on this consideration.
”
Similar to China Construction Bank, there are Shanghai Pudong Development Bank and China Merchants Bank, with quota limits of 500,000 and 700,000. Different from their caution, city commercial banks are more aggressive. Manager surnamed Chen of Guangzhou Bank made it clear , “Civil servants can borrow 80% of the bare car price, and there is no upper limit in principle, while non-civil servants can borrow up to 70% of the price. "Minsheng Bank also advertises that high-quality customers can enjoy "a maximum limit of 1.5 million, 0 down payment loans."