At present, the economy is developing rapidly, and various financial derivatives are also abundant. Cars, houses, etc. They are all big items, and the price is tens of thousands or even millions. When we don't have enough cash to buy a car in full, it is also a feasible way to get a loan from the bank, but not everyone can get a loan smoothly. Some people can't get a loan when they go to the bank and break their legs, and some people can easily get hundreds of thousands of loans with their ID cards.

Loan RV is also very common. It is convenient for a family to own a car, and it is also convenient to go to work without crowding the bus or subway, especially when the weather is bad. Therefore, it is not cost-effective to buy trucks by stages, and there is no way to give an answer directly. Everyone should combine their own specific conditions to see if they choose to buy trucks by stages or in full.

Presumably many people have plans to buy a car. Of course, people who buy cars now have more or less the burden of car loans. Auto loan refers to the loan issued by the lender to the borrower who applies for buying a car. Then, do you still need to pay liquidated damages for repaying the car loan in advance? It is understood that this car loan can be paid off in advance, and different loan prepayment procedures have different regulations. If you want to repay in advance, you should find the bank that applied for the loan to pay the final payment directly and go through the formalities of prepayment. However, car loans generally do not last long, and prepayment is subject to penalty. Whether it is cost-effective depends on the specific situation.

Paying off the car loan at one time is a breach of contract and usually requires payment of liquidated damages. However, different institutions charge different rates of liquidated damages, which may be different according to the repayment time. The loan contract will generally stipulate the specific amount of liquidated damages. If the loan time is less than one year, the bank will generally charge about 2%-5% of the prepayment amount, and will also charge interest for several months as a penalty. The liquidated damages of auto financing companies are relatively high, generally about 8% of the prepayment amount.

Of course, when asking whether it is cost-effective to repay the car loan in advance, besides saving interest, we need to carefully consider other aspects. For example, before you repay it in advance, is there a better way to invest the money? Also pay attention to the high cost of prepayment; Finally, whether paying back the car loan in advance will affect your daily living expenses.

Therefore, whether it is cost-effective to repay the car loan in advance depends not only on the liquidated damages, but also on the repayment time. Car loan is equal principal and interest repayment, and the monthly repayment is fixed, so it takes a long time to repay the loan, and early repayment is definitely not counted.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.