Can I buy a car with a credit card?

Can I buy a car with a credit card?

September 21, 2022 0 By onroadtips

Cars are being used as the primary vehicle in the Philippines in recent years. Many people used to purchase a car on installment or cash, but these methods are inconvenient. There are many forms of loans to buy a car, but buying a car with a credit card is being chosen by many people. Learn how to buy this car through the article below!

How to buy a car with a credit card?

What is buying a car with a credit card?

A credit card is a type of bank card the holder can use to make payments without having money on the card. Buying a car with a credit card is a method where you use your credit card to pay for the car purchase in advance and return that amount to the bank at the end of each period.

Currently, most business establishments have the incentive that customers can use credit cards to pay for car purchases with a 0% interest rate. Instead of having to pay this amount in full within 45 days, you can choose to pay it off over 3, 6, 9, or 12 months. This helps you reduce the financial burden compared to the previous direct payment method.

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Can I buy a car with a credit card?

Yes, you can buy a car with a credit card. Buying a car with a credit card is no longer strange to customers or car dealers. Thanks to the advantages of procedures and interest rates, more customers buy cars in this form. In addition, banks also offer support programs with attractive incentives for credit cardholders.

Bank offers attractive incentives for credit card holders

What to pay attention to when buying a car with a credit card?

Choose the right card type

People who often use credit cards to shop should choose cards with a large cashback rate, while those who travel often should choose high-limit credit cards with a program to accumulate miles. Successful entrepreneurs often use high-limit credit cards, many preferential experiences, and VIP privileges. For large transactions with large amounts of money such as home repairs, and car purchases, you can consider a personal loan to enjoy a lower interest rate.

Pay your debt on time, remember the sooner the better

A credit card balance is a total amount you owe the bank. If you do not pay on time, you will not be interest-free and will have to pay late payment fees. In addition, you can be put on the bad debt list, which will adversely affect your loan and credit card opening later.

Buying a car with a credit card is a new method, with many advantages but also many potential risks. Please read carefully the regulations and policies, and ask the bank staff or acquaintances who have used this service to get the most accurate information!

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Remember to pay the debt on time

Other methods to buy a car

Not all cases of purchasing a car are suitable for using a credit card. So other than that, you can consider these methods while buying a car:

  • Car financing: You can apply for car financing if you are in trouble making ends meet. These interest loans are often lower than that of a credit card.
  • Have a down payment by trading your old car: You can exchange your automobile for a down payment. Utilize the trade-in price of your existing automobile to reduce the price of your future auto. Even though your junker might not be capable of covering the complete new mortgage, it will help you save money and prevent a big credit card penalty.


It is sure you can buy a car with a credit card. Buying a car with a credit card is not too difficult, but you should know clearly all the conditions before signing the contract. And remember to pay installments on time. Hope you will have a nice experience buying a car with a credit card. Following us for more information!

Thank you for reading! Also, you might read our writing of any other article like this in our category Buying. If you have any questions, feel free to comment below or contact