1, car mortgage interest rate
Looking for a bank mortgage loan, the lowest interest rate is not lower than LPR in the same period, and it is priced in the form of LPR plus points. The annualized interest rate generally starts from 6%.
Looking for a loan from an auto financing company, the interest rate is usually slightly higher than the bank's automobile mortgage interest rate, and the annualized interest rate is generally 10%-24%.
2. Car mortgage term
Generally speaking, the longest term of automobile mortgage is no more than 5 years, and if it is used car mortgage, the longest term of loan is no more than 3 years.
3. automobile mortgage quota
Generally speaking, the maximum amount of automobile mortgage does not exceed 80% of the assessed value of the automobile. If it is specific to the amount, it is like a car owner loan, with a maximum loan of 500,000.
4. automobile mortgage's repayment method
Generally, the repayment of principal and interest is equal, that is, the same amount is paid every month, but the principal and interest are different, and the repayment of principal in the first month is the least, increasing month by month; The interest repayment in the first month is the most, and it decreases month by month.
5. Specific calculation of automobile mortgage interest.
Assuming that the principal of automobile mortgage is RMB 200,000.00 Yuan, which will be repaid in three years (36 installments), and the repayment method of equal principal and interest is adopted, then:
(1) If the annualized interest rate is 6%, the monthly payment will be 6,084.39 yuan, and the car mortgage interest will be10.9 million yuan.
(2) If the annualized interest rate is 10%, the monthly payment is 6453.44 yuan, and the car mortgage interest is 32300 yuan.
(3) If the annualized interest rate is 24%, the monthly payment is 7846.57 yuan, and the car mortgage interest is 82500 yuan.