The calculation method of interest is generally related to repayment methods, such as matching principal and interest, average capital and matching interest. By matching principal and interest calculation:
Calculated with a calculator, the actual annualized interest rate is about 16.5%, and the monthly interest rate is 1.38, which is still relatively high. If you have no idea about interest rate, let me give you an example. At present, the benchmark interest rate of mortgage is 4.9% (for loans of more than five years), which is 5.88% even if it generally rises by 20%. However, the car loan interest rate is not low, and 4s stores usually tell you with a nominal interest rate (so it won't feel very high).