There are two ways to buy a car loan: one is formula calculation and the other is car loan calculator calculation. There are two common repayment methods for auto loans: equal principal and interest repayment and equal principal repayment. Formula calculation: the formula for calculating the monthly repayment amount of the equal principal and interest repayment method: monthly repayment amount = [loan principal× monthly interest rate× (1interest rate )× repayment months ]→[( 1 interest rate) repayment months-1] the formula for calculating the monthly repayment amount of the average fund repayment method: monthly repayment amount = (loan principal) Operation steps of the auto loan calculator: Step 1: First, choose whether the repayment method is average principal or equal principal and interest, and fill in the term of the auto loan; Step 2: Choose whether to display the repayment details, and click "Calculate" to obtain detailed information such as monthly repayment amount, total loan interest, total repayment amount in each installment, etc.
How to calculate the car loan
At present, there are two ways to calculate the monthly payment of car loan: one is formula calculation, the other is car loan calculator calculation. There are two common repayment methods for bank car loans: equal principal and interest repayment and equal principal repayment.
Formula calculation:
The formula for calculating the monthly payment of the matching principal and interest repayment method is: monthly repayment amount = [loan principal × monthly interest rate ×( 1 interest rate )× repayment months ]=[( 1 interest rate )× repayment months]
Average capital repayment method: Monthly repayment amount = (loan principal ÷ repayment months) (principal-accumulated amount of repaid principal) × monthly interest rate.
Operation steps of the automobile loan calculator:
Step 1: First, choose whether the repayment method is average capital or equal principal and interest, and fill in the car loan period, loan amount and actual loan interest rate;
Step 2: Select whether to display repayment details, and click the Calculate button to obtain detailed information such as monthly repayment amount, total loan interest, total repayment amount and so on.
Note: The auto loan calculator is only applicable to loans with monthly repayment of principal and interest, not to loans with one-time repayment of principal.
How to calculate the car loan?
Calculation method of automobile loan interest:
The calculation formula of daily interest rate is generally: daily interest rate = annual interest rate /360-month payment = [loan principal × monthly interest rate ×( 1 interest rate )× repayment months ]≤[( 1 interest rate )× repayment months].
Monthly interest payable = loan principal × monthly interest rate × [( 1 interest rate )× repayment months -( 1 interest rate) ÷ [( 1 interest rate )× repayment months-1]]
Monthly repayment principal = loan principal × monthly interest rate ×(65438+ 10 interest rate) ÷ (repayment month serial number-1)÷[(65438+ 10 interest rate) repayment months-1].
Total interest = repayment months × monthly repayment amount-loan principal.
Extended data:
Processing flow:
First of all, the lender needs to prepare ID card, residence certificate, work certificate, loan use certificate and other supporting materials, go to a bank, fill out an application form and fill out a contract.
Then, wait for the bank's pre-loan qualification investigation and approval. If the lender meets the loan conditions stipulated by the bank, the bank will inform the lender to fill out some loan forms. If the loan applied by the lender needs mortgage or guarantee, it is also necessary to sign a guarantee contract and a mortgage contract, and go through the mortgage registration procedures; If so, there is no need to sign such a contract.
Secondly, banks issue loans to lenders. Generally, banks will lend money within 2 to 3 weeks or 1 month after the approval is completed, and the loan can be released within 1 day at the earliest.
Finally, the borrower will pay the down payment to the car dealer, and handle the car pick-up formalities with the passbook and the car pick-up note issued by the bank.
In the process of applying for personal automobile consumption loan, the applicant needs a copy of ID card, household registration book, marriage certificate, income certificate, bank statement, real estate license and so on.