Buy a car company for five years.
How to calculate the interest?
According to the regulations, the auto loan interest rate shall be implemented according to the loan interest rate regulations published by the People's Bank of China, and the interest settlement method shall be determined by both borrowers and borrowers through consultation. The loan term of auto loan (including extension) shall not exceed 5 years, of which the loan term of used car loan (including extension) shall not exceed 3 years, and the loan term of dealer auto loan shall not exceed 1 year.
The People's Bank of China will adjust the loan interest rate according to the loan interest rate, and the five-year loan interest rate is higher than the three-year loan interest rate.
Assuming that the benchmark interest rate for a five-year loan is 4.65%, if the borrower goes to the bank to apply for a car loan, the bank will increase the benchmark interest rate by 10%, and then fluctuate around 20% according to the borrower's personal qualifications. After calculation, the annual interest rate of the five-year loan is 5.6%, the loan is 6,543,800 yuan, and the interest of the one-year loan is 5,600 yuan.
Of course, if the borrower chooses different repayment methods, the loan interest rate will also change. In most cases, banks only agree to car loans for about three years, because cars are depreciated products, and the longer the loan time, the greater the risks that banks need to bear.
If the user has good credit qualification, the bank will reduce the loan interest rate as appropriate. If the user has overdue risk, the loan interest rate will be higher than the loan interest rate, depending on the actual situation.
The above is what Shuangcaijun shared about "How to calculate the 5-year interest on car loans". I hope it will help everyone!
How much is the interest on the loan to buy a car?
Interest bearing.
Loans to buy a car usually have interest. However, some 4s stores will launch a 0-interest loan to buy a car. Although they will not charge interest, they will charge a higher service fee. This fee is similar to loan interest, but it is actually disguised interest.
If it is a bank car loan, the loan interest rate generally fluctuates on the benchmark interest rate of the central bank loan. If it is a car loan from other financial companies, the loan interest rate is generally set according to market conditions, and there is no standard.
The benchmark interest rate for central bank loans is:
1, and the loan interest rate within one year is 4.35%:
2. The loan interest rate within one to five years is 4.75%;
3. The interest rate for loans over five years is 4.90%.
1. Now, interest-free or zero down payment activities are generally launched when buying a car. Now, let me tell you some precautions to prevent being trapped. Now the so-called low down payment or zero down payment are mostly pits. Maybe when you buy this car, you will find that it is settled in the name of a company, but this car is leased to you and must be paid within the specified time. If it violates the regulations, the car will be recycled and the money spent before will not be recovered.
There are still many merchants who attract friends who want to buy a car through zero down payment, but they can't resist the temptation. After buying, they know that the merchant will tie in high insurance, force you to buy full insurance under the pretext of buying a car with zero down payment, or let you buy some specific products of the insurance company. At this time, the insurance you buy will be more expensive than other people's insurance, and it will also make you buy some insurance that is not practical at all.
3. It should also be noted that you must confirm the time and amount of your repayment. When you buy a car with a loan, you must clearly list the required procedures and expenses. Compare more and choose the channel that suits you. Don't just look at the so-called 0 down payment, low interest, or 0 down payment and 0 interest. These are routines. Everyone must read the contract clearly.
What is the annual interest rate of car loan?
What is the annual interest rate of car loan? How to calculate the annual interest rate of car loan? Auto loan interest rate refers to the loan interest rate that people use when they borrow money to buy a car. It is the interest rate of a specific automobile loan agreed by the lender and the borrower according to the legal loan interest rate and the floating collusion range stipulated by the People's Bank of China, and it is stated in the loan contract.
What is the annual interest rate of car loan?
At present, the annualized loan interest rate corresponding to the one-year total interest rate of 3.5% is about 6.5%, 3.8% is about 7%, and 4%, 4.5% and 5% are 7.4%, 8.3% and 9.3% respectively. At present, the mainstream car loan interest rate of 1 is between 3.5% and 5%, and the corresponding annualized loan interest rate is.
For example, the one-year car loan 1.2 million yuan needs to be repaid every month, and the handling fee of 4,800 yuan with an annual total interest rate of 4% will be repaid together with the down payment. In fact, the installment loan of 65,438+02 was used for 65,438+0 months and 2 months respectively until 65,438+0.2 months.
The total interest rate of car loans for two years is currently 7%-9.5%. Among them, the annualized loan interest rate corresponding to 7% interest rate is about 6.7%, the annualized loan interest rate corresponding to 8% is about 7.7%, and the annualized loan interest rate corresponding to 9.5% is 9. 1%. At present, the mainstream interest rate of three-year car loan is between 9.5% and 12.5%, of which the lower 9.5% corresponds to an annualized loan interest rate of about 6.2%, 10.5% corresponds to an annualized loan interest rate of about 6.8%, and 12% corresponds to an annualized loan interest rate of about 7.7%.
At present, the benchmark interest rate for bank loans is 6%( 1 year), and the benchmark interest rates for two-year and three-year loans are 6. 15%. At present, the mainstream car loan interest rates are higher than the benchmark bank loan interest rates in the same period. In this regard, a bank account manager said that the bank's current loan resources are becoming more and more tense. Compared with the current loan interest rate of more than 8% for small and medium-sized enterprises, the interest rate of auto loan is still relatively low, and the amount of a single loan of auto loan is small, which leads to the auto loan interest rate is usually the benchmark interest rate.
Another thing that needs careful calculation is the loan term of the car loan. Whether it is a 4S store or a bank, the mainstream car loan proposal is two or three years, so the monthly loan amount is moderate, which is conducive to medium-term financial planning. For example, you bought a family car with a loan of/kloc-0.8 million yuan. If you pay it off in one year, you need to repay/kloc-0.2 million yuan every month. If it is two years, you need to repay 5000 yuan per month, if it is three years, you need to repay 3333 yuan per month. The installment amount of car loan for two or three years is affordable for residents in big cities.
How to calculate the annual interest rate of car loan?
It is understood that in order to know the interest rate of auto loans, we should not only know the number of years of auto loans, but also know the amount, interest rate and repayment method of auto loans. Because as long as one of them changes, the interest on car loans will be different.
For example, if the annual interest rate of a car loan is 5.25% for three years, the period interest is related to the loan amount: interest = loan amount x annual interest rate x3 = loan amount x5.25%x3 = loan amount x6.75% @20 19.
How to calculate the interest on car loan?
To calculate the annual interest of car loan, you can use this formula: annual interest of car loan = principal of car loan × annual interest rate of car loan.
As we all know, the annual interest rate of auto loan can be calculated by knowing the principal and annual interest rate of auto loan, both of which are stated in the auto loan contract. For example, if the principal of automobile loan is 654.38+10,000 yuan and the annual interest rate is 8%, the annual interest rate is equal to the principal of automobile loan × annual interest rate of automobile loan = 654.38+10,000 yuan× 8% = 8,000 yuan.
Extended information:
Auto 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 provide RMB-guaranteed loans to car buyers who buy cars at their special dealers.
The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
Matters needing attention in auto loan are as follows:
1. After enjoying the "zero-interest loan" from the merchants, can I still enjoy the car price discount?
2. The car loan fee in the market a few days ago was in the range of 4%~7.5%. Whether the interest is exempted increases the handling fee.
3. The car purchase interest rate is charged according to the bank's benchmark interest rate. Interest fluctuates on the basis of the bank's benchmark interest rate regardless of whether the handling fee is exempted or not.
When you get a car loan, the most important thing is to shop around. Consumers should choose a regular car loan service company with certain qualifications and strength, which not only regulates services and charges, but also leaves no hidden dangers.
Factors that generate interest:
1. delayed consumption. Lenders lend money, which is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer present goods to future goods, so there will be positive interest rates in the free market.
2. Expected inflation. Inflation will occur in most economies, representing a certain amount of money. You will buy less goods in the future than you do now. So the borrower needs to compensate the lender for the losses during this period.
3. Lenders can choose to invest their funds in other investments instead of alternative investments. Because of the opportunity cost, the lender lends money, which is equivalent to giving up the possible return of other investments. Borrowers need to compete with other investments for this fund.
4. Investment risk: The borrower faces the risk of bankruptcy, absconding or non-repayment of debts at any time, and the lender needs to charge extra fees to ensure that compensation can still be obtained under these circumstances.
5. Liquidity preference, people prefer that their funds or resources can be traded immediately at any time, rather than spending time or money to get them back. Interest rate is also a kind of compensation for this.
What is the general interest rate for car loans?
What is the loan interest rate for buying a car? The car loan interest rate is as follows: 1. One-time interest rate for loan term (month): 1.3 16% for two months, 0.3 1% for 24 months and 0.3% for 36 months; 2.20%-50% down payment, ordinary banks require 40%-50%, and some car dealers can find other financing companies to achieve 20% or even lower; 3. Generally, it will be paid off in 2-5 years. The monthly repayment depends on how much money you borrowed, and you can use the property as a guarantee.
This concludes the introduction of the loan interest rate of car buying companies and the loan interest rate of car buying companies. I wonder if you have found the information you need?