1. How to calculate the interest on installment car purchases
The interest on installment car purchases is calculated as follows: 1. Bank loan base interest rate: 1-year 6.666%; 2-3 years 6.71 %; 2. Total down payment = necessary commercial insurance for down payment; 3. Purchase tax = car purchase price / (117%) purchase tax rate (10%); 4. License fee; 5. Vehicle and vessel use tax; 6. Compulsory traffic insurance; 7. Total conventional insurance; 8. Vehicle loss insurance: 1.2% of the cash purchase price; 9. Full vehicle theft insurance: 1.0% of the new car purchase price; 10. Individual glass breakage insurance: 0.25% of the purchase price of imported new cars and 0.15% of the purchase price of domestic new cars. %; 11. Spontaneous combustion loss insurance: 0.15% of the new car purchase price; 12. Excluding deductible special insurance: (vehicle loss insurance third party liability insurance) 20%; 13. No-fault liability insurance: third party liability insurance premium 20 %; 14. Vehicle personnel liability insurance. Most sellers have launched one-stop services for credit consumption according to the different needs of consumers, making the cumbersome loan car purchase procedures simple and fast. From vehicle selection, charging, applying for bank cards, insurance, and bank signatures to applying for parking space certificates, mobility permits, and vehicle inspection plates, professional sales staff will do everything. Consumers only need to submit the required information. Generally speaking, the loan policy for buying a second-hand car is that the down payment starts from 20% of the vehicle sales price, and the loan term is no more than three years. The operating procedures such as the lender's prerequisites, required information and loan procedures are basically the same as those for new car loans. They are generally citizens between the ages of 20 and 60, and must have a stable career and stable income to ensure the ability to repay the principal and interest of the car payment on time. When applying for second-hand car installment payment, three types of information and certificates are required: the car purchaser’s ID card, household register, residence certificate and income or employment certificate; proof of the relationship between the loan car purchaser and his spouse; and two recent one-inch photos.
2. How much is the interest for an installment purchase of 10,000 yuan for a car?
There are two situations for the interest of 10,000 yuan for installment car purchase. One is a short-term loan. For example, a one-year loan, the annual interest rate is 4.2, the monthly interest rate is 0.35, and the interest of each installment of a 10,000 yuan loan is 10,000 yuan. X0.35=35 yuan.
The other is medium and long-term loans. For example, for a loan of more than five years, the annual interest rate is 6 and the monthly interest rate is 0.5. The interest for each period of a 10,000 yuan loan is 10,000 yuan_0.5=50 yuan.
3. How much is the loan interest for buying a car in installments?
It is calculated, so I think I will have to repay an extra 15,000 yuan in three years. But actually because you are making payments each month, the interest is also decreasing. I used an annual interest rate of 7.2 and repaid the principal and interest in equal amounts. The cumulative repayment in 36 months was 74 and I borne an interest of 7696.32 yuan.
4. How much is the loan interest for buying a car by installment?
It depends on the method you choose. Some things are zero interest, and some are installment payments in the automobile industry with interest. There are various forms, and there are three main types: (1) Bank consumer loans; (2) Automobile manufacturer financial company loans; (3) Financial leasing methods. The market is mainly operated by the "Kaiyuan Automobile" brand chain organization.