It is understood that financial institutions in automobile mortgage do not charge interest, but will charge management fees on a monthly basis, which is actually a disguised form of interest. Each family has different regulations on management rates. However, the management fee for non-parking loans is much higher than that for parking loans. Taking the automobile loan business of a financial institution as an example, the monthly management rate of parking is 2.98%, and the monthly management rate of non-parking is 4%.
How much is the interest of non-parking loan higher than that of parking loan?
Assume that the loan amount of Mr. Sun is 6,543,800 yuan and the loan period is 654.38+ 02 months:
Non-parking management fee =100000 * 4% *12 = 48000 (RMB)
Parking management fee = 65438+ ten thousand *2.98%* 12=35760 (yuan)
It can be concluded that the difference between non-parking loan management fee and parking loan management fee is 12240 yuan. It can also be said that the interest of non-parking loans is higher than that of parking loans 12240 yuan.
Non-parking loan case
Xiao Li takes the non-stop loan of an institution as an example. The monthly management rates of mortgaged vehicles and non-parking loans are 3.5% and 5% respectively, and the one-time charge is 2%. Suppose the loan is 50 thousand, and it will be paid back after half a year. The total capital cost of the former is 1 1500 yuan, and the latter is 2800 yuan more than 14300 yuan. It can be seen that we should not only use the car, but also consider whether we can bear the high capital cost.
Throughout the automobile mortgage market, the charging standards of various institutions vary greatly. As far as the monthly management fee is concerned, Xinyi, Taihe Fortune and Wansheng Bank have given three rates from high to low, which are 5%, 4% and 2.5% respectively. Careful friends may find that the price of CreditEase is twice that of Wansheng Bank. However, this is not the case. The difference in prices stems from the different repayment methods adopted by each other.
The survey found that both Xinyi and Taihe Fortune paid interest first, and then repaid the principal. Because the principal, which occupies the most important position, is scheduled to be paid off in the last month, and the funds need a long time, the price naturally tends to go higher. Wansheng, on the other hand, adopts the method of equal principal and interest repayment, which requires fixed principal and interest repayment every month, and the principal takes up a relatively short time, so it has a price advantage. Therefore, when shopping around, we should not only pay attention to the price, but also pay attention to the repayment method, and try to make all information transparent.
Car slaves can use their powerful identity to get 45 times of pure credit loans every month. For example, Ping An Bank's new loan is a product tailored for them. As long as you meet the requirements of good credit and vehicle mortgage for half a year, you can get a loan pass. The expected annualized interest rate of this product is only 1.6% per month, and the same loan is 50,000 yuan, and the semi-annual interest rate is only 2,837 yuan.
Million car purchase subsidy