To calculate the annual interest rate of car loan, you can use this formula: car loan annual interest rate = car loan principal × car loan annual interest rate.
It is generally known that the annual interest rate of car loan can be calculated by knowing the principal and annual interest rate of car loan, both of which are stated in the car loan contract. For example, if the principal of car loan is 65,438+10,000 yuan and the annual interest rate is 8%, the annual interest rate is equal to the principal of car loan × the annual interest rate of car loan = 65,438+10,000 yuan× 8% = 8,000 yuan.
Extended information:
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. Automobile consumption loan is a new loan method that banks provide RMB-guaranteed loans to car buyers who buy cars at their special dealers.
The borrower must be a permanent resident of the place where the loan bank is located and have full capacity for civil conduct.
Matters needing attention in auto loan are as follows:
1. After enjoying the "zero-interest-free loan" from the merchant, can I still enjoy the preferential price of the car?
2. The car loan fee in the market a few days ago was in the range of 4%~7.5%. Whether the interest is exempted increases the handling fee.
3. The car purchase interest rate is charged according to the bank's benchmark interest rate. Whether the handling fee is waived or not, the interest is floating on the basis of the bank's benchmark interest rate.
When you get a car loan, the most important thing is to shop around. Consumers should choose a regular car loan service company with certain qualifications and strength, which not only regulates services and charges, but also leaves no hidden dangers.
Factors that generate interest:
1. delayed consumption. Lenders lend money, which is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer present goods to future goods, so there will be positive interest rates in the free market.
2. Expected inflation. Inflation will occur in most economies, representing a certain amount of money. You will buy less goods in the future than you do now. So the borrower needs to compensate the lender for the losses during this period.
3. Lenders can choose to invest their funds in other investments instead of alternative investments. Because of the opportunity cost, the lender lends money, which is equivalent to giving up the possible return of other investments. Borrowers need to compete with other investments for this fund.
4. Investment risk: The borrower faces the risk of bankruptcy, absconding or non-repayment of debts at any time, and the lender needs to charge extra fees to ensure that he can still get compensation under these circumstances.
5. Liquidity preference, people prefer that their funds or resources can be traded immediately at any time, rather than spending time or money to get them back. Interest rate is also a kind of compensation for this.
How to calculate the interest on car loan?
If you apply for a personal loan at China Merchants Bank, "interest" is calculated according to the total loan amount, loan term, execution interest rate, repayment method and other factors.
The biggest loan cost for banks in automobile mortgage is loan interest. Different banks and loans with different maturities have different interest rates. The benchmark interest rate for three-year loans is 6. 15%, and the actual loan interest rate is usually higher than the benchmark interest rate, and the benchmark rises by 30% to 40%. Is there any other charge for mortgage loan besides loan interest? This also depends on the specific situation of the loan.
For example, some car loans need to be guaranteed. If it is guaranteed by a guarantee company, it is generally necessary to pay a certain deposit, which generally costs several thousand yuan. If the borrower repays the loan on time, the guarantee company can refund a certain amount of deposit as agreed. If you use real estate as a mortgage loan, there will be real estate assessment fees, mortgage registration fees and other fees.
Extended data:
General car loan expenses include insurance premium, notarization fee, performance guarantee fee and mortgage fee. The charge is about 3000 yuan, 800 yuan, 3% of the loan amount, 3% of the loan amount.
Car loan interest = loan amount, loan interest rate and loan time. The specific interest is calculated according to these three parameters.
No matter what kind of car loan you make, 4S stores will charge different amounts of mortgage fees (also called financial service fees). This fee has nothing to do with manufacturers and banks, and it is one of the important sources of profit for dealers. For example, the above 3S shop charges 3,000 yuan; The starting price of financial mortgage fee for Audi 4S shop is 3,000 yuan; BMW charges 3% of the loan amount.