At present, only five commercial banks in China can buy cars by credit cards, namely China Merchants Bank, China Bank, China Construction Bank, Minsheng Bank and Bank of Ningbo. Advantages and disadvantages of buying a car by credit card in installments: 1, and the handling fee is low. Interest rate: Compared with bank loans and loans from auto financing institutions to buy a car, buying a car by credit card in installments has no interest. Of course, the so-called zero interest rate will charge a handling fee, but for people with lower handling fees, it is still a better choice than the other two loans. 2. Fast approval speed: Fast approval speed is also a major advantage of credit card installment purchase. Some banks use credit card loans to buy cars, the fastest approval speed is 40 minutes, and the longest is no more than 3 days; 3. Although the approval speed is very fast, it is also due to all the advantages and disadvantages brought by some restrictions on credit card purchase.
2. Does CCB need a great green paper on installment mortgage?
The answer is yes. At present, most banks require borrowers to sign relevant mortgage contracts with banks when handling credit card installment business, and mortgage the purchased vehicles to the banks.
In this way, banks aim to control risks and prevent borrowers from being unable to repay. After the borrower pays off all the loans, he can go through the formalities of cancellation of vehicle mortgage registration.
I bought a car by installment with CCB credit card. Is it the whole car?
If CCB purchases a car by installment with a credit card, it will be regarded as a full car purchase.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers. The interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
The term of automobile consumption loan is generally 1-3 years, and the longest is no more than 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years, and the term of dealer car loan shall not exceed 1 year.
According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans in major banks is generally less than five years, and the interest rate of auto loans directly determines the cost of people's loans and becomes an important factor in determining whether people lend.
The calculation formula of monthly car loan payment is: a = p (1I) [(1I) n-1]/n 2/I, where a is monthly contribution, p is total contribution, I is monthly interest rate (annual interest rate/12).
Loan terms:
Having valid identification and full capacity for civil conduct;
Can provide fixed and detailed address proof;
Have a stable job and the ability to repay the loan principal and interest on schedule;
Personal social credit is good;
Holding a car purchase contract or agreement approved by the lender;
Other conditions stipulated by the cooperation organization.
4. How much cheaper is it for CCB to buy a car by installment with a credit card than a commercial loan?
CCB's car purchase stages are different according to different models, different periods and different interest rates. You can learn more by getting on the bus in stages. I think the quantity is different, and there is a handling fee of "0". Doesn't that mean there is no handling fee? Just divide the principal by the number of installments, which is definitely higher than the business model. Go by yourself.