The difference between interest rate and interest rate is shown in the following aspects.
1. concept
Rate refers to the rate at which expenses are paid;
Interest rate refers to the ratio of the interest amount to the loan amount within the loan period determined when the loan is used to buy a car.
2. Charging method
If the fee is calculated according to the "rate", it needs to be paid in one lump sum;
Most of the interest calculated according to the "interest rate" is paid in installments.
3. Prepayment settlement method
Fees calculated by "rate" are handling fees, and must be settled even if advance payment is required;
Interest is calculated according to the "interest rate". If prepayment is required, the interest calculation shall be based on the date when you pay off the principal and interest of the bank.
How to pay the interest rate and interest?
● Rate
There is no car loan interest rate for car purchase by credit card installment, but there is a handling fee. Basically, the installment interest rate is between 3.5%- 1 1%, and the applicable credit line is between 200,000 and 200,000. 12, 24, 36.
Calculated by the total installment amount * interest rate coefficient, for example, the one-year installment rate is 5%, the loan is 654.38+ 10,000 yuan, and 654.38+ 10,000 * 5% = 5,000 yuan.
● Interest rate
Compared with bank car loan and credit card installment, traditional bank car loan business mostly uses interest rate calculation. The interest rate is calculated at 8%, and the loan is 654.38 million yuan, with equal principal and interest. The monthly repayment is 8698.84 yuan, 12 104386. 1 yuan, with a total interest of 4386.5438+0 yuan.
When applying for a car loan, ask clearly, the difference is not a little.
At present, many car loan businesses have launched "zero interest" or "low interest". After listening to so much, consumers are a little confused. Will there be a trap?
In fact, interest-free businesses usually pay for their promotional activities. There are thousands less and tens of thousands more. This is the "making money" of real money. Don't hesitate to meet.
Million car purchase subsidy