First of all, different interests:

The three-year interest rate is generally low. The five-year interest rate is relatively high. The monthly repayment amount is different. If it is also interest-free, the pressure of three-year repayment is much less.

Second, the repayment calculation formula is different:

There is a formula for calculating the monthly repayment amount of car loan, which is mainly based on the loan method and repayment period selected by consumers, and the bank gives a suitable repayment plan according to the economic situation.

Take the automobile consumption loan of a bank as an example, the repayment formula is: repayment amount per installment = loan principal/repayment period+(principal-accumulated repayment principal) × interest rate (monthly interest rate).

Loans to buy a car are generally based on the total amount of the first loan and calculated according to the bank's loan interest rate when signing the contract. If the bank interest rate changes during the repayment period, it will be adjusted with the interest rate in a certain year.