The second-hand car loan calculator is a calculator specially used to calculate the monthly payment of car loans, which is similar to the mortgage calculator in essence but slightly different.
Term of car loan: Generally, the term of car loan is 1-3 years, with a maximum of 5 years. Among them, the term of second-hand car loan (including extension) shall not exceed 3 years.
Car loan interest rate: the loan interest rate of used cars is generally higher than the mortgage interest rate, so you can find a suitable bank to handle the loan yourself.
Repayment method: you can choose one-time repayment of principal and interest and installment repayment.
Generally, second-hand car dealers lend about 7% interest, which is 0.7% monthly interest, which translates into 8.4% annual interest. If the down payment is 30% or 50% and the loan term is 24 or 36 years, the annual interest rate of the loan is 6.6%.
Loans in the used car market are different from new car loans, and there will be some preferential subsidies. Moreover, for a three-year loan for used cars, the minimum down payment is 50%, and the total interest is more than 20% of the total loan. The calculation formula of loan interest for used cars is: monthly payment × loan term-loan amount = total interest.
Loan 2 million, 20 years, how much is the monthly payment?
The same is 13645.03 yuan per month.
The housing loan is 2 million yuan, calculated according to the bank's benchmark interest rate. The mortgage is 20 years, and the monthly payment is as follows:
1, repayment method of equal principal and interest:
Total loan: 2 million yuan
Number of repayment months: 240 months
Monthly repayment: 13645.03 yuan.
Total interest paid: 1274807.63 yuan.
Total principal and interest: 3,274,807.63 yuan.
2, the average capital repayment method:
Total loan: 2 million yuan
Number of repayment months: 240 months
First month repayment: 1733.33 yuan.
Decreasing monthly: 37.50 yuan
Total interest paid: 1084500.00 yuan.
Total principal and interest: 3,084,500 yuan
If you need to apply for loan business, you should calculate the monthly payment according to the repayment method chosen at that time. The following is the calculation formula of repayment method for your reference, but the specific calculation and repayment situation of loan repayment shall be subject to the data given by the handling bank. There are two repayment methods of mortgage: equal principal and interest and average principal.
506,5438+00 How much is the monthly loan?
The loan is 500,000 yuan with a term of 10 year. At present, the benchmark interest rate for the latest five years and above is 4.9%, and the repayment of principal and interest is equal, with a monthly payment of 5,278.87 yuan.
If the average capital is used for repayment, the first monthly payment will be 6208.33 yuan, and then the monthly payment will gradually decrease.
Matching principal and interest refers to a loan repayment method, that is, repaying the same amount of loans (including principal and interest) every month during the repayment period.
Equal principal and interest and average capital are not the same concept. Although the monthly repayment amount may be lower than that in average capital at the beginning, the interest paid in the end will be higher than that in average capital, which is also a method often used by banks.
Repayment method:
That is to add up the total principal and interest of the mortgage loan, and then distribute it evenly to each month of the repayment period. The monthly repayment amount is fixed, but the proportion of principal in the monthly repayment amount increases month by month, and the proportion of interest decreases month by month. This method is the most common and recommended by most banks for a long time.
Matching principal and interest repayment method refers to the borrower's equal repayment of loan principal and interest every month, in which the monthly loan interest is calculated according to the remaining loan principal at the beginning of the month and settled every month.
The average capital repayment method means that the borrower repays the loan principal with the same amount (loan amount/loan months) every month, calculates the loan interest according to the remaining loan principal at the beginning of the month, and settles it every month, and the sum of the two is the monthly repayment amount.
computing formula
Monthly repayment amount = [loan principal × monthly interest rate ×( 1 monthly interest rate) repayment months ]=[( 1 monthly interest rate) repayment months]
Deduction of repayment formula
Assuming that the total loan amount is A, the monthly interest rate of the bank is β, the total number of installments is M (months) and the monthly repayment amount is X, the monthly loan owed to the bank is:
The first month A( 1β)-X
Second month (a (1β)-x) (1β)-x = a (1β) 2-x [1β]]
The third month [a (1β)-x) (1β)-x] (1β)-x = a (1β) 3-x [1β) (.
It can be concluded that the loan owed to the bank after the nth month is a (1β) n _ x [1(1β) (1β) 2 (1β) (n-1)] = a.
Because the total repayment period is m, that is, all bank loans have just been repaid in the m th month.
So there is a (1β) m _ x [(1β) m-1]/β = 0.
X = a β (1β) m/[(1β) m-1].
Repayment method and calculation of average capital
1. Repayment amount of equal principal and interest repayment method:
Monthly repayment amount: a [I (1I) n]/[(1I) n-1]
(Note: A: loan principal, I: monthly loan interest rate, n: loan months)
2. Average capital repayment method repayment amount:
Monthly principal repayment: None
Monthly interest payable: ani/30dn
Total monthly payable: a/nani/30dn
(Note: a: loan principal, i: monthly loan interest rate, n: loan months, an: remaining loan principal in the nth month, a 1=a, a2=a-a/n, a3 = a-2a/n ... The actual number of days in the nth month is analogized, for example, February in a normal year is 28,3.
Interest calculation of repayment method
Interest calculation of equal principal and interest repayment method:
Repay the loan with equal principal and interest. Calculate the monthly repayment principal and interest first: bx = ai (1I) n/[(1I) n-1].
So much for online calculation of loan calculator.