The loan to buy a car requires the following certificates:

1, proof of salary income in recent 3 months.

2. The guarantee of a friend who owns real estate.

3. Go to the place of residence and issue a residence certificate.

Loan to buy a car repayment method

1, equal repayment of principal and interest

When calculating, the interest generated by the monthly loan balance is calculated first, and the repayment principal of the current month is formed after deducting the interest payable from the equal repayment amount. At the initial stage of repayment, due to the large loan balance, interest accounts for a large proportion in monthly repayment, and the repayment speed of principal is relatively slow. With the passage of time, the loan balance gradually decreased, the proportion of interest gradually decreased, and the proportion of principal gradually increased. This repayment method is more suitable for people with fixed year-end bonus or fixed annual income.

2. Repayment by average capital

The average capital of car loan refers to the repayment method selected by the borrower in the average capital after the car loan. During the repayment period, the total loan amount is divided into equal parts, and the same amount of principal and interest generated by the remaining loan in the month are repaid every month. Because the monthly repayment amount is fixed and the interest is getting less and less, the lender is under great pressure to repay at first, but with the passage of time, the monthly repayment amount is getting less and less. ?

Calculation formula of average capital loan: monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.

References:

Baidu encyclopedia, loan to buy a car