Change the principal and interest every month, and the monthly repayment includes the loan interest and part of the principal, with equal repayment. Paying the loan management fee monthly refers to paying the management fee of the loan account.
Repayment methods provided by the bank:
(1) Equal repayment of principal and interest. This is the most common repayment method recommended by banks at present. The borrower repays the loan principal and interest with the same amount every month, that is, the total loan principal and interest are added up and evenly distributed to each month of the repayment period.
Using this repayment method, the same amount is paid every month, which is convenient to operate, and it is also convenient to arrange income and expenditure by bearing the same amount every month. This repayment method is suitable for borrowers with stable income. Its disadvantages are that the interest will not decrease with the repayment of the principal amount, the bank funds take up a long time, and the total repayment interest is relatively high.
(2) Repayment of equal principal. This is also the repayment method commonly used by banks at present. The borrower will allocate the principal to each month and pay off the interest from the previous trading day to the repayment date. The total interest cost of this repayment method is low, but the principal and interest paid in the early stage are more, and the repayment burden decreases month by month.
This repayment method is suitable for people with higher income at present, but it is predicted that their income will decrease in the future.
(3) One-time repayment of principal and interest. The bank's stipulation for this repayment method is that if the loan term is within one year (including one year), the principal and interest will be repaid at the maturity, and the interest will be paid off together with the principal. However, when banks choose this repayment method, the approval will be stricter, and they are generally only open to small short-term loans. This repayment method is simple to operate, but its applicability is not strong.
(4) Pay interest and principal on schedule. After consultation with the bank, the borrower sets different repayment time units for the repayment of loan principal and interest. That is, decide to repay once a month, quarterly or annually. In fact, according to different financial conditions, the borrower collects the money to be repaid every month and pays it back together for several months. Not all banks have this repayment method, which is suitable for people with unstable income.
How much is the management fee in car loan?
The management fee in the car loan is an extra fee charged by the car sales company in disguise.
In the process of buying a car with a mortgage loan, the bank will not charge the lender any fees. The overcharged management fee actually fell into the pocket of the car sales company. Many times, friends who buy a car are eager to buy a car when they apply for a car loan. Without a good understanding of the related costs, it gave bad car dealers an opportunity.
Change several names of the same charging item, and repeat the charging. For example, any management fees and service fees are actually unnecessary. Making excuses, charging repeatedly, playing with the contract agreement and not handling according to the agreed standards are all common hidden rules of auto loans. In particular, many loan companies boast very well, but in fact none of them are written into the contract.
So be sure to read the contracts, agreements and charging items clearly. If you don't know, go and find out, and it's best to be accompanied by an experienced friend.
Extended data:
If you buy a car with a loan, there will usually be a management fee in the contract, which is mainly used for file keeping. After the vehicle registration and mortgage registration, it will be kept by the company in a unified way, as well as the bank's monthly payment deduction, vehicle preservation service, later claims insurance service and customer service platform construction.
In fact, there is a charge for keeping the car registration certificate, but the name is different. It is the work of file management, especially in the loan contract. The state has cancelled the so-called personnel relationship file management fee, which is not allowed to be collected. Therefore, in this case, you can ask for an explanation or you can not pay compensation.