The repayment date of the car loan is the second month after the car loan is transferred to your account. For example, if you got the car loan in June 5438+ 10/,then the repayment time is June 5438+065438+1 0/. At the same time, the loan contract clearly stipulates the repayment time, so we can determine our repayment time according to the car purchase contract. Many people mistakenly think that the calculation starts from the day when the vehicle picks up the car, but it is not. When we prepare for the repayment date every month, we only need to deposit the money into the loan account in advance, and the bank will automatically transfer the money.
There are two main forms of car loan repayment:
One. Average capital
The calculation formula of average capital is: (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) x monthly interest rate.
Matching the principal and interest is to allocate the principal to each month, and the money paid this month is the remaining principal of last month plus the interest of each installment of the principal. Compared with the matching principal and interest, the overall interest paid by the average capital is relatively small, but the repayment amount in the early stage will be relatively large, which requires the lender to consider its own actual situation.
2. Equal principal and interest
Matching principal and interest means that the principal and interest of the loan are shared together, and the monthly repayment amount of matching principal and interest is basically fixed. When we borrow money, we should first check the repayment method in the contract and prepare enough funds to avoid bad credit reports due to overdue.