If the 3-year car loan interest rate is calculated according to the annual interest rate of 6.4% stipulated by the central bank,
Matching principal and interest repayment: monthly payment: 3,978.43 yuan; Principal and interest: 143223.5637 yuan; Interest: 1.4 million yuan.
The interest rates of different banks may be different, but it's only a small amount of money.
Supplementary information:
1, car loan interest = loan amount, loan interest rate and loan time, and the specific interest is calculated according to these three parameters.
2. For bank car loan payment, the biggest payment cost is payment interest.
3. Different banks, different loans and different interest rates. The benchmark interest rate for 3-year futures is 6.4%. The actual loan interest rate is usually higher than the benchmark interest rate.
4. Most of the benchmark interest rates go up by 30% to 40%. Are there any other expenses besides mortgage interest? It depends on the specific situation of payment.
Extended data:
First, the conditions for applying for auto loans
(1) The car buyer must be at least 18 years old and a citizen of China with full civil capacity.
(2) Car buyers must have a relatively stable job, a relatively stable economic income or assets that can be easily realized, in order to repay the loan principal and interest on schedule. Assets that are easy to realize here generally refer to securities and gold and silver products.
(3) During the loan application period, the car buyer will deposit the car purchase down payment lower than that stipulated by the bank into the account of the bank savings counter.
(4) Providing banks with bank-approved guarantees. If the personal account of the car buyer is not local, it should also provide joint liability guarantee, and the bank will not accept the mortgage set by the car buyer for the car purchased by the loan.
(5) Car buyers are willing to accept other conditions deemed necessary by the bank.
Choose a bank loan to buy a car, the loan interest rate is moderate, and there are many kinds of cars to choose from. However, in the process of handling loans, it actually takes time and energy. In order to control risks, banks usually spend a long time reviewing and require applicants to submit a lot of information. If you want to apply and are not afraid of trouble, bank loans are a good choice;
As we all know, credit cards don't charge interest by installment, which is also the biggest advantage of buying a car by installment. At the same time, credit card installment is convenient and quick, and it can be done with one phone call. Sometimes banks can enjoy certain discounts when they cooperate with car dealership companies.
Two. Information to be provided for car loan
1, personal loan application;
2. Valid identification of individuals and spouses;
3, I and my spouse's occupation, position and income certificate;
4. Marriage certificate (unmarried certificate is required, except those who have not reached the legal age for marriage) and household registration book;
5. Original ID card, residence booklet or other valid proof of residence, and provide a copy;
6 car purchase agreement, contract or letter of intent signed with the dealer;
7. Proof of deposit or down payment;
8. The supporting documents or materials required for the guarantee;
9. Other documents required by the Cooperation Organization.
3-year loan lpr interest rate
The 3-year loan lpr interest rate is 3.65%. According to relevant data, on August 22nd, the market quotation (LPR) of new loans was announced. On the same day, the People's Bank of China authorized the National Interbank Funding Center to announce that the LPR of 1 year was 3.65%, and that of 5 years and above was 4.3%.
How to calculate the car loan interest rate?
To calculate the car loan interest rate, we must first understand the concept of a few cents. In the folk concept, "one point" is converted into a decimal point, which is 0.0 1. "One point" is converted into a decimal point, which is 0.00 1. For monthly interest, one point is 1% and one point is 0. 1%. If you want to ask how much interest the car loan is, you are actually asking what the monthly interest of the car loan is.
The calculation method of car loan interest is: loan amount, loan interest rate and loan time. The benchmark annual interest rate of a bank's three-year loan is 4.35%, which generally fluctuates according to the borrower's comprehensive qualification, and the floating range is generally between 10%-36%. Converted, the general annual interest rate of bank car loans is between 4.7% and 5.9%.
According to the counterattack of the 4S store, the longer the borrower borrows, the higher the interest rate. General 1 year interest rate is about 3% 3, 2-year interest rate is about 6% 6, and 3-year interest rate is about 9% 1. The installment interest of most 4S shops is generally between 4% and 7%, and the interest of bank car loans will be slightly lower.
If the borrower's personal qualifications are good, it is recommended to apply for a loan in the bank as much as possible. In order to attract consumers, many 4S stores will put forward some installment services with 0 down payment, but in fact, such services often have a lot of bundled consumption, which may exceed interest after calculation.
Extended data:
The auto loan interest rate refers to the interest rate of a specific auto loan agreed by the lender and the borrower according to the statutory loan interest rate and the floating range stipulated by the People's Bank of China, and stated in the loan contract.
According to the regulations of the central bank, the benchmark interest rate is implemented for auto loans, but financial institutions can float within a certain range of the benchmark interest rate. The term of auto loans of major banks generally does not exceed 5 years. The car loan interest rate of auto financing companies is generally higher than that of banks. However, due to the complexity of the bank's auto loan process, it takes too long. At present, the mainstream auto loan is the auto finance company's loan.
Conditions for applying for a car loan:
1. Car buyers must be at least 18 years old and be China citizens with full civil capacity;
2. Car buyers must have a relatively stable job, a relatively stable economic income or assets that are easy to realize, in order to repay the loan principal and interest on schedule. Assets that are easy to realize here generally refer to securities, gold and silver products, etc.
3. During the loan application period, the car buyer will deposit the down payment of the car purchase lower than that stipulated by the bank into the account of the bank savings counter;
4. Provide banks with bank-approved guarantees. If the personal account of the car buyer is not local, it should also provide joint liability guarantee, and the bank will not accept the mortgage set by the car buyer for the car purchased by the loan; Car buyers are willing to accept other conditions that the bank deems necessary.
Car loan fee:
The biggest loan cost for banks in automobile mortgage is loan interest. Different banks and loans with different maturities have different interest rates. The benchmark interest rate for three-year loans is 6. 15%, and the actual loan interest rate is usually higher than the benchmark interest rate, and the benchmark rises by 30% to 40%.
Installment car purchase fee:
If you buy a car by installment with a credit card, there is no loan interest, but there will be an installment fee (except for a few designated models).
Different banks have different credit card installment fees, and there are two payment methods for credit card installment fees: one-time payment and installment payment. General 12 total cost is above 10%.
ERP interest rate of three-year loan
If it is a commercial loan, the benchmark interest rate for a three-year loan is 4.75%; If it is a provident fund loan, the benchmark interest rate for a three-year loan is 2.75%.
From March 1 2020, financial institutions should negotiate with customers of existing floating interest rate loans on the conversion terms of the pricing benchmark, and convert the interest rate pricing method agreed in the original contract into LPR as the pricing benchmark (the bonus value can be negative), and the bonus value will be fixed during the remaining period of the contract; It can also be converted into a fixed interest rate.
Pricing benchmark can only be converted once, and cannot be converted again after conversion. In the last repricing cycle, the floating-rate loan of inventory shall not be converted. In principle, the conversion of the pricing benchmark of floating rate loans should be completed before August 3, 20201.