Car installment is to divide users into several installments and pay in installments every month. Installment payment is a hot spot in the current automobile market. In the current depressed market environment, installment payment is regarded by many businesses as an effective means to seize market share.

Scope of application: Due to the limited credit limit of general credit cards, issuing banks generally require cardholders to provide financial proof. The financial certificates 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. Obviously, more and more banks will launch credit card installment car purchase business nationwide with the needs of customers. 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.