At present, the common ways to buy cars by stages are credit card installment, loan installment and automobile installment. The minimum down payment is 30% of the bare car price and the loan period is 1-3 years. Down payment = bare car price * down payment ratio+car purchase cost. Loan amount = new car purchase price-bare car price * down payment amount. Monthly repayment amount = loan amount * loan time. Buying a car by installment is a common payment method, which is actually a loan provided by the seller to the buyer. When trading goods, buyers only need to pay a small amount of money to the seller to get the goods they need. However, this installment payment method will generate certain interest, and this way of buying a car is not just a one-time payment. Take the price of 70,000 cars as an example. Generally, the down payment is 30%, and the interest generated every month is around 200 yuan. You can choose to buy a car by stages. The repayment period is divided into one year, two years and three years. At the same time, the down payment can also be 30%, 40% and 50%. On the one hand, it is for the seller to complete the sale, on the other hand, it is for the convenience of the buyer.
What is the general interest rate for car installment payment?
The installment interest of car loan can be calculated by this formula: installment interest = car loan principal x interest rate x loan term.
Take a car loan of 50,000 yuan as an example. You only need to know the car loan interest rate and loan term, and you can calculate the installment interest. If the annual interest rate of the loan is 7% and the loan term is 4 years, the calculation is as follows: interest = 50,000 yuan x7%x4 years =14,000 yuan.
The car loan can be repaid in advance, and the car mortgage loan can be repaid before the repayment period. However, to pay off the car mortgage loan in advance, you need to repay the expenses incurred by the loan first.
Extended data
The application conditions for auto loan are as follows:
Car buyers must be at least 18 years old, hold valid identification and have full capacity for civil conduct.
Personal social credit is good.
Can provide fixed and detailed address proof.
Holding a car purchase contract approved by the lending institution.
Have a stable job and the ability to repay the principal and interest on time.
Other conditions stipulated by the cooperation organization.
Reference source: Baidu Encyclopedia-Car Loan
How to calculate the interest on buying a car by installment?
The algorithm of interest on buying a car by installment: 1, the original car price is about 90,000, and the down payment is 30%, that is, the down payment of the car body price is 27,000, and the loan is 63,000, but this is only the down payment of the car body, and the real payment is not only 27,000, but also other expenses. 2. Generally, the purchase price of the car is \/( 1+ 17%)× the purchase tax rate (10%) = about 7700, and the basic loan for buying a car in the first year of insurance is about 6000, and then we will see if we entrust the store to handle all the formalities such as licensing. The one-stop fee is about/kloc-. 3. The interest rate is 9 points, and the interest for one year is 63000*0.09=5670, so the interest for three years is 5670*3= 170 10 yuan; 4. The vehicle landing price is 43,700+63,000+17010 =120,800 yuan.
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