Why is the car loan more than the actual loan amount?

If a customer finds that when repaying a car loan, the amount is more than the actual loan amount, which exceeds the loan amount shown in the contract, it is probably because the customer’s repayment includes interest. Naturally, It seems too much. Customers don’t have to worry about this, just repay according to the amount shown on the bill. The loan itself requires interest. Unless the customer applies for an interest-free loan, then only the principal needs to be repaid.

Of course, if it is not because of the interest but the principal amount displayed is more than the actual amount, it is recommended that the customer contact the customer service of the loan handling bank (auto consumer finance company) for consultation to see if it is the bank (auto consumer finance company). Financial companies) issued more loan funds. If there are multiple charges, just return the excess funds to the bank (auto consumer finance company) after feedback.

You also need to note that some 4S stores may charge a deposit, and this fee is separate from the loan funds (generally after the customer has paid off the car loan and completed the mortgage release procedures, the 4S The store will refund the deposit).

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Xicai.com gt; Knowledge gt; Loans

What is the general car loan limit? How much money can be borrowed

Wang Li 2018-03-30 15:24:25 Source: Xicai.com

Due to the improvement of material life, many families have purchased their own For cars, many people also choose to take loans. Buying a car with a loan is nothing new. This method of "enjoy first" and "pay later" is deeply loved by everyone, but many people don't know the car loan limit. How much is it usually? How much money can be borrowed? The editor below will answer the question for you.

What is the general amount of a car loan?

1. Car mortgage loan:

If you choose a mortgage loan to buy a car, then this loan method is the same as buying a house. , first you have to pay a certain down payment ratio, and the remaining balance can be applied for a loan. Generally speaking, the minimum down payment for a car loan is 30%. In other words, if you buy a car through this loan method, the loan amount is generally 70% Taking a car worth RMB 100,000 as an example, a down payment of 30% is equivalent to RMB 30,000, and a loan amount of 70% is equivalent to RMB 70,000;

2. Buying a car with a mortgage loan:

This type of loan Generally, you have a property in your name, and then take out a mortgage loan to buy a car. The loan amount is generally determined based on the evaluation of the collateral. It can usually reach about 70% of the evaluated price. For example, a house worth 1 million yuan has an evaluated price of 900,000 yuan. The loan limit is 630,000.

Note: Regarding "interest-free loans"

In order to attract more users to buy cars, many merchants use "interest-free loans" to attract users. Interest-free "does not mean "free" "It looks very attractive. In fact, merchants have to charge a certain handling fee. If you calculate it carefully, you will find that the loan handling fee is higher than the interest. Therefore, when you buy a car with a loan, you must understand it in detail. Be clear so as not to suffer the consequences of being dumb.