What is credit card car installment business? Buying a car by installment with a credit card means that the cardholder applies to the issuing bank to pay the car consumption by installment, and repays the car consumption monthly within the agreed repayment period. This method requires a certain proportion of down payment, and the balance can be paid back every month; You don't need to pay interest, you just need to pay the handling fee, which the bank will generally charge in one lump sum for up to three years. Is there a difference between buying a car by installment with a credit card and buying a car by loan? Compared with other car loans, the threshold for credit card installment loans is lower. As long as the applicant has a good personal credit record and can provide proof of work income or property recognized by the bank, the loan is generally completed within 7 working days. In addition, credit cards buy cars in installments without interest, but only charge a handling fee, which is cheaper than ordinary loans.

Second, how to buy a car with a credit card? Is it cost-effective to buy a car by installment with a credit card?

Of course, you can buy a car by credit card, and you have cooperation with many banks. Even if you don't win the car, the 4S shop will apply according to the car payment and specific concessions, which is much cheaper than the traditional company loans and car dealership loans.

Pay in full by letter, and then apply to the bank for bill installment. Of course, this also requires that your credit card limit is high enough. Second, most car dealers support buying a car by credit card without paying interest and paying the corresponding installment fee.

Because of the high car price, the first method is basically not feasible, but the second method is better than auto financing institutions to borrow money to buy cars and credit card interest. Of course, the so-called zero expected annualized interest rate will be spent on handling fees, but for those with lower handling fees, compared with the other two loan methods, the expected annualized interest rate above 10% is still a better choice. Rong 360 arranged the car purchase expenses for credit card loans from several banks. For the cardholder's reference period, the installment fee rates for the 24th and 36th installment are 5%, 8%, 24% and 12% for ICBC12, respectively. The installment fees of China Merchants Bank 12, 24 and 36 are respectively, and the installment fees of Minsheng Bank 12, 24 and 36 are 17% respectively.

In addition to the expected low annualized interest rate, fast approval is also the fastest time to complete the credit card installment loan approval in 40 minutes, and the longest time will not exceed 3 days. Moreover, most credit card banks have credit card points activities, so you can kill two birds with one stone by putting them in the bank after buying a car.

However, if the credit card loan is less than the full installment, the cardholder generally needs to pay a certain down payment, usually 30%. Of course, the credit card purchase amount is not very high, which is more suitable for buying middle and low-end cars.