1. If the loan is fully paid off in advance, the car loan interest will be calculated until the loan is paid off, and the loan contract will be terminated naturally without paying the remaining interest.
2. If the loan is repaid in advance, interest will continue to be calculated according to the remaining principal to be repaid.
Extended data
First, the calculation method of auto loan
Car loan calculation formula: loan interest = loan principal * loan term * loan interest rate. According to this formula, the user can calculate the approximate value, and the specific user can refer to the loan contract and calculate according to the value in the contract.
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 issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.
Second, how to inquire about the car loan inquiry?
The inquiry method of auto loan is as follows:
1. When going to the business outlet for consultation, the owner needs to bring his ID card to the business outlet to ask the staff.
2. You can also check personal loans and past repayment records through online banking.
3. You can also call customer service to inquire. Telephone inquiry can only find my loan balance.
Third, is car loan easy to handle?
Vehicle loans are generally easier to pass than other loans, because the loan amount of vehicle loans is relatively lower than other loans (housing loans), and people with fixed jobs and incomes can generally afford them, unless they are too capricious when choosing vehicles, which is beyond their affordability.
After submitting the relevant information, a week or so, then the car loan can be approved. If the car loan is not approved, it may be because the loan amount is too large, and the bank feels that you are unable to repay it, or because the credit information is not good, the bank has a great chance of rejecting your loan.
Fourth, the conditions needed for car loans.
1, with valid identification and full capacity for civil conduct;
2. Can provide a fixed and detailed address certificate;
3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;
4. Personal social credit is good;
5. Holding a car purchase contract or agreement approved by the lender;
6. Other conditions stipulated by the Cooperation Organization.
Matters needing attention
Whether to buy a car depends on the owner's funds. When asked about the advantages and disadvantages of car loans, most car dealers are somewhat evasive. They believe that buying a car with a loan can not only enable citizens with insufficient funds to buy their favorite cars in advance, but also allow some citizens with sufficient funds but other uses to free up some funds that would have been used for car prices for development. However, the resulting interest and extra costs have been ignored.
Undoubtedly, "interest-free, fee-free" makes many people who can't afford a car have the impulse to buy a car. However, the problems behind this kind of value for money have made many people ill-considered. Some auto credit practitioners believe that consumers must pay attention to three points when buying a car with loans:
First, after enjoying the "zero-interest-free loan" of the merchants, can you still enjoy the preferential price of the car?
Secondly, the car loan fee in the market a few days ago was in the range of 4%~7.5%, whether it was interest-free and fee-added;
Third, the general car purchase interest rate is charged according to the bank benchmark interest rate. Regardless of whether the handling fee is unavoidable, the interest is floating on the basis of the bank's benchmark interest rate. At the same time, due to the choice of loans, new car insurance must be "fully insured", which will result in a large premium expenditure.
Therefore, the most important thing in car loan is to shop around. Consumers should choose a regular car loan service company with certain qualifications and strength, which will not only standardize services and charges, but also leave you with hidden dangers.