What's with the interest on the car loan?

Zero interest on a car loan means that you can apply for a loan to buy a car without interest, but it should be noted that interest-free car loans ≠ free of handling fees are as follows: 1. Reasons for not being able to buy or sell: Vehicles mortgaged to the bank with mortgage registration cannot be bought or sold freely when the car loan is not settled. 2. Timing of buying and selling: When buying and selling a loan vehicle, you can choose to buy and sell it after the loan is paid off, or you can ask the buyer to settle the arrears directly in advance. The following are the

extended materials about the loan car: 1. Loan space: The loan car needs to apply for two mortgage car, and there must be room for refinancing. 2. Definition of secondary mortgage: The lender can obtain loan funds again if the collateral that has been used for mortgage is mortgaged again.

what does the so-called down payment and interest mean?

The interest rate of down payment for credit card installment is actually a propaganda made by banks to promote credit card installment payment business. Take a mobile phone as an example: down payment means that when you buy this mobile phone by credit card installment, you don't need to pay the down payment of the mobile phone immediately, just wait until the billing date of your credit card. interest rate means that you don't need to pay extra interest to the bank when you handle the credit card installment business. However, the bank will charge a fee called installment fee, which is actually just a word game of meowing. There is no interest charge, but there is a handling fee. I hope you will understand this when you apply for credit card installment payment. However, due to the fierce competition in the market, banks will have some fee-free activities on some holidays, so you can consult banks or shopping malls specifically. Have a nice card!

what does a -interest loan mean to buy a car?

Generally, car purchase with -interest loan is only for specific models. The specific -interest loan models of each brand are as follows:

1. Interest-free brand 1: FAW Mazda. Interest-free model: Ruiyi sedan.

2. Interest-free brand 2: Dongfeng Honda, and interest-free model: Spiro.

3. Interest-free brand 3: Beijing Hyundai, and interest-free model: Elantra.

4. Interest-free brand 4: Changan Ford, and interest-free models: Fiesta Focus, Mondeo Zhisheng and Max S-MAX.

5. Changan Volvo, interest-free model: Volvo S8L.

Although it is tempting to buy a car with a -interest loan, it should be noted that a -interest loan does not mean a -fee. The so-called -interest rate is paid by the car manufacturer. On the surface, consumers do get a lot of concessions, but in fact they will charge a handling fee of about 4%, which is equivalent to interest.

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 between the loan amount and the principal that the bank gives to consumers, that is, borrowers, to buy cars for their own use (non-profit-making family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.

loan term:

the loan term for automobile consumption is generally 1-3 years, and the longest is no more than 5 years. Among them, the loan period of second-hand car loans (including extension) shall not exceed 3 years, and the loan period of dealer car loans shall not exceed 1 year.

loan interest rate:

benchmark interest rate:

according to the regulations of the central bank, the benchmark interest rate for auto loans is implemented, but financial institutions can fluctuate within a certain range. 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, which has become an important factor in determining whether people make loans or not.

how to calculate the car loan interest rate:

the calculation formula of monthly car loan payment: a = p (1i) [(1i) n-1]/n 2/i

a: monthly contribution

P: total contribution

i: monthly interest rate (annual interest/12) <

so much for the introduction of interest loan.