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 a 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 it depends on whether to entrust a store to get a license, plus1. 3. The interest rate is 9 points, and the annual interest is 630000.09=5670. So the interest for three years is 56703= 170 10 yuan; 4. The vehicle landing price is 437,006,300 yuan17010 =120,800 yuan.
How to calculate the interest on the loan to buy a car? What is the interest?
Interest rate of personal consumption car loan of China Bank:
Personal consumption car loans are based on the quotation rate of the same grade loan market recently announced by the National Interbank Funding Center. In each floating cycle, pricing is based on positive and negative basis points, with loan interest rate = positive basis point of reference interest rate adopted on each pricing day or loan interest rate = negative basis point of reference interest rate adopted on each pricing day.
The above contents are for your reference. Please refer to the actual business regulations.
How much is the interest on the installment loan for used cars?
The interest rate of used cars is 7%, that is, the monthly interest rate is 0.7%, which translates into an annual interest rate of 8.4%. At present, if the down payment is 30% or 50% and the loan term is 24 or 36, the annual interest rate of the loan is 6.6%. But the annual interest rate of bank loans is generally around 4% to 6%.
Loans in the used car market are different from new car loans, and there will be some preferential subsidies. Moreover, for a three-year loan for used cars, the minimum down payment is 50%, and the total interest is more than 20% of the total loan. The calculation formula of loan interest for used cars is: monthly payment × loan term-loan amount = total interest. Therefore, consumers should also measure their repayment ability.
Matters needing attention in second-hand car loan
The loan period is limited at the beginning, and the longest loan period for new cars can reach 60 periods, which is 5 years. The maximum amount of second-hand car loans is 36 periods, that is, 3 years, and very few may reach 5 years. Loan interest rates, loan interest rates for new cars and used cars all fluctuate on the basis of the benchmark interest rate of the People's Bank of China. Only under the same circumstances, the interest rates of several types of loans for used cars are higher than those for new cars.
How much is the interest on buying a car by installment?
Car price down payment = cash purchase price × (down payment ratio is 30%-80%)
Total down payment = down payment insurance license fee
Loan amount = cash purchase price-down payment
The average monthly payment is five years.
The calculation formula is: repayment amount per installment = loan principal/number of repayment installments.
Interest payable in each installment = remaining principal of last month × monthly interest rate of loan.
1. Bank loan benchmark interest rate: 65438+6. 0 years is %, 2-3 years is 6.7 1%.
2. Total down payment = down payment requires commercial insurance.
3. Purchase tax = purchase price /( 1 17%) × purchase tax rate (10%).
4. Licensing fee: Usually, the one-stop service fee provided by merchants is about 500 yuan, and the personal handling fee is about 373 yuan, including industrial and commercial verification 150 yuan, mobile license 30 yuan, environmental protection license 3 yuan, extension fee 40 yuan, driving license photo 20 yuan and pallet 130 yuan.
5. Vehicle and vessel use tax: the provinces are not uniform. Take Beijing as an example, there are 9 or less buses in 480 yuan and 9 or more buses in 540 yuan.
6. Compulsory insurance: 950 yuan/year for 6 or less families, and 1 100 yuan/year for more than 6 families.
7. Total term insurance: At present, the average discount of insurance companies is 77%.
8. Vehicle loss insurance: cash purchase price × 1.2%.
9. Full-vehicle theft rescue: the purchase price of a new car is × 1.0%.
10, separate glass breakage risk: the purchase price of imported new cars × 0.25%, and the purchase price of domestic new cars × 0. 15%.
1 1, spontaneous combustion loss insurance: purchase price of new car × 0. 15%.
12, excluding the special risk of deductible: (vehicle loss insurance third party liability insurance) × 20%.
13. No-fault liability insurance: third-party liability insurance premium × 20%.
14. Vehicle personnel liability insurance: 50 yuan per person, which can be filled in according to the actual number of seats in the vehicle.
The total car price is 90,000 yuan, and the down payment is 27,000 yuan for three years.
The monthly interest rate of the bank is 0.5025%, the total loan is 69,027.48 yuan, and the monthly payment is 1.9 17.43 yuan.
The interest of the finance company is 0.6 15%, the total loan is 70,423.92 yuan, and the monthly payment is 1956.22 yuan.
The high interest rate is 0.9%, the total loan is 74,036.52 yuan, and the monthly payment is 2,056.57 yuan.
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?
Second, the car loan fee in the market a few days ago was in the range of 4%~7.5%. Is it 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.
Refer to the above content: Baidu Encyclopedia-Car Installment Payment
Refer to the above content: Baidu Encyclopedia-Car Loan
How to calculate the car installment interest?
Interest = principal interest rate term.
Car installment refers to the way that customers choose to pay by installment when buying a car, and banks or other financial institutions provide loans for them. In the process of automobile installment payment, customers need to pay back to banks or other financial institutions according to the agreed number of installments and installment amount.
Automobile installment interest refers to the interest expenses that customers need to pay in the installment payment process. The calculation method of automobile installment interest is usually based on the principal, interest rate, number of installments and other factors. For different banks or other financial institutions, the specific calculation methods may be different.
Generally speaking, the calculation method of automobile installment interest is as follows:
Interest = principal interest rate term
Among them, the principal refers to the loan amount that customers need when buying a car, the interest rate refers to the loan interest rate provided by banks or other financial institutions, and the number of periods refers to the number of periods that customers choose when buying a car.
For example, if a customer needs a loan of 500,000 yuan to buy a car, the installment number is 36, and the interest rate is 4.9%, then the interest that the customer needs to pay in the installment process is 500,000 4.9% 36 = 88,200 yuan.
In addition, in the process of car installment payment, customers also need to pay attention to abide by the provisions of the loan contract and repay on time. If the customer fails to repay the loan on time, he may face the situation of overdue repayment and need to pay the corresponding liquidated damages and other expenses.
Therefore, when buying a car, customers need to carefully consider their repayment ability and choose the installment payment method that suits them to avoid the risks caused by repayment problems.
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.