With the gradual popularization of credit cards in people's lives, many people's consumption patterns have also changed, and any consumer goods within the quota can be turned into installments. As a special kind of consumer goods, after a period of exploration, banks have successively introduced policies that are more suitable for users' needs. So, can I buy a car with a credit card? This is a concern of many people who want to buy a car. Then can I buy a car with a credit card? The answer is yes. The following * * * wealth management network introduces the credit card to buy a car in stages in detail.

Scope of application of credit card to buy a car

Due to the limited credit limit 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 to 200,000 yuan, and some banks allow cardholders with good credit to apply for credit lines to buy cars in installments.

Obviously, with the demand of customers, there will be more and more banks in the national credit card installment car purchase business. 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.

However, each bank has its own threshold: China Merchants Bank has to pay more than 30% down payment before it can be phased, while 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.

Buy a car by installment with a credit card

Car purchase by credit card installment is the credit card installment business of banking institutions. The credit limit that the cardholder can apply for is 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no expected annualized interest rate for credit installment car loans, and banks only charge fees, with different installment rates.

Credit card car purchase process

(1) filing an application. After you choose the car you need to buy, you need to go to the bank to fill out an application form for car consumption loan, a credit survey form and provide your personal income certificate;

(2) The bank conducts pre-loan investigation and approval. If you meet the requirements of bank loan, the bank will inform you to fill in some forms according to the contact information you provide;

(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 dealership, and goes through the formalities of car pick-up according to the bank car pick-up slip and other documents.

* * * * Wealth Management Network reminds that the down payment for car purchase cannot be paid by credit card; The handling fee of CCB's credit card car purchase needs to be paid in one lump sum at the first repayment; If you want to repay the loan in installments in advance, the handling fee will not be refunded; Vehicles purchased by credit card in installments must be insured against vehicle theft and vehicle loss, and the insurance period is consistent with the installment period.

Is it worthwhile to buy a car with a credit card?

Is it worthwhile to buy a car with a credit card? How about buying a car with a credit card loan? Nowadays, the development of science and technology makes life so convenient, and major banks also provide convenience for users as one of the main places.

Compared with other car loan methods, buying a car by credit card has its own advantages. There are two credit card modes for buying a car by credit card: one is to pay in full by credit card and then apply to the bank for bill installment. The premise is: your credit card is enough to pay for the car. Second, most car dealers support buying a car by credit card, but the difference is that the banks designated for cooperation by stages are different, so be sure to ask the merchants before buying. The bank credit card you hold can buy a car by stages.

The credit card installment car purchase method has the advantages of convenient application process, low threshold and lowest handling fee, but the choice of car loan method should be based on your own situation.

For example, if you take a fancy to a car with suitable performance and style, and the car price is 6.5438+10,000 yuan, then after applying for credit card installment and paying 30% of the car down payment, you will get a loan of 70,000 yuan within three years, and you will have to pay back the interest of about 8,400 yuan.

However, if this 70,000-yuan credit card installment fund is put in the bank or invested, at the current expected annualized interest rate level, even if it is calculated on a three-year basis, there will be interest of about 8,900 yuan at maturity. The difference between the two is nothing more than that credit cards need to pay interest first and repay monthly. So after careful calculation, it is not uneconomical to buy a car by credit card in installments.