The loan to buy a car requires the following certificates:

1, proof of salary and income in recent 3 months

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

3. Go to the place where you live and issue a residence certificate.

Loan to buy a car repayment method

1, equal repayment of principal and interest

In the calculation, the interest generated by the monthly loan balance is calculated first, and the payable interest is deducted from the equal repayment amount to form the repayment principal of the current month. At the initial stage of repayment, due to the large loan balance, interest accounts for a large proportion of monthly repayment, and the repayment speed of principal is relatively slow. With the passage of time, the loan balance gradually decreases, the proportion of interest gradually decreases, and the proportion of principal gradually increases. This repayment method is more suitable for people with fixed year-end bonus or fixed annual income.

2. Equal principal repayment

The average capital of auto loan refers to the repayment method chosen by the borrower with average capital after auto loan. During the repayment period, the borrower divides the total loan into equal parts, and repays the same amount of principal and the interest generated by the remaining loan in that month every month. Because the monthly repayment amount is fixed and the interest is getting less and less, the lender has great repayment pressure at first, but as time goes on, 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