A: Monthly contributions.

P: total donations

I: monthly interest rate (annual interest rate/12)

N: Total months of contribution (year × 12)

Car loan interest rate refers to the loan interest rate that people use when they borrow money to buy a car.

It is the interest rate of a specific automobile loan agreed by the lender and the borrower according to the statutory loan interest rate and the floating collusion range stipulated by the People's Bank of China, and it is stated in the loan contract.

Extended data lending condition

1. Have valid identification and full capacity for civil conduct;

2. Can provide a fixed and detailed address certificate;

3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;

4. Personal social credit is good;

5. Holding a car purchase contract or agreement approved by the lender;

6. Other conditions stipulated by the Cooperation Organization.

References:

Baidu encyclopedia: car loan