If you want to borrow money to buy a car, if you don't know what the loan mode you choose, you can't analyze whether you are suitable for this kind of car loan, and you may spend more money but can't buy a suitable car. So before we decide to buy a car with a loan, we should calculate the total cost of the loan ourselves, which will help you to make an accurate judgment on whether the car is worth buying. The following summarizes the four major expenses mainly included in the loan to buy a car for your reference.

1, down payment: generally calculated in proportion to the car price (actual transaction price).

Take handling a car loan of about 80,000 yuan as an example. The down payment is 30% of the purchase price, that is, 80,000× 30% = 24,000 yuan.

2. Monthly repayment: Generally, repayment methods include equal principal and interest, average capital and credit card installment.

Equal principal and interest: the monthly repayment amount is the same. At the initial stage of repayment, the interest ratio is large and the principal ratio is small. After more than half of the repayment period, the proportion of principal is large and the proportion of interest is small. The total interest paid is more than the average capital method.

Calculation method: total loan amount × monthly expected annualized interest rate+total loan amount × monthly expected annualized interest rate ÷[( 1+ monthly expected annualized interest rate) Total repayment months-1]

Average capital: the monthly repayment amount is different. It is to divide the loan amount evenly according to the total number of repayment months (average funds), and add the monthly interest of the remaining principal in the previous period to form the monthly repayment amount, so the repayment amount in the first month is the most, and then it becomes less and less. The total amount of interest paid is less than the equal principal and interest method.

Calculation method: loan principal ÷ total repayment months+(loan principal-accumulated repaid principal amount) × expected annualized interest rate per month.

Credit card installment: monthly repayment is the total loan divided by the total repayment period.

Calculation method: total loan ÷ total repayment months.

3. Total interest

This is based on the loan amount, the expected annualized interest rate and the loan period to calculate the extra cost of buying a car by loan. At present, most car loans are zero expected annualized interest rate (no loan interest), and the handling fee is equivalent to the total interest to be paid.

4. Handling fee

Bank charges: usually charged in proportion to the loan amount, and increased with the increase of the loan term. For example, the loan 12 months, the handling fee is 4%; The loan is 24 months, and the handling fee is 8%. This handling fee is not paid to the 4S shop, but charged by the bank.

4S shop handling fee: In addition to the bank handling fee, 4S shops have to charge some handling fees in some car loan schemes. Generally speaking, this fee can be waived by negotiating with 4S stores.