If you buy a car and choose a 4S shop to help you get a car loan, the down payment for buying a car is generally 30%. How to calculate the loan interest? It depends on the down payment and repayment period of your loan. Generally speaking, the loan interest is between 5% and 8%.
If you have real estate and other collateral, you can get a loan to buy a car. If you don't have real estate, you can find someone to guarantee it for you (the guarantor must have a regular job, plus if you have a regular job, you have a stable income.
If you can provide your own proof of income and have a good credit record, the down payment for your car loan will be reduced by 10 percentage point, that is, the down payment will reach 20%.
Smart loan, the loan is divided into two parts, which are returned in the first phase and the last phase respectively. At the end of the loan term, there are three options: pay off the wisdom balance in full and apply for extension 12 months; Used car replacement. Total cost of car purchase = initial cost+monthly payment × repayment periods+final payment.
Equal repayment. During the loan period, the repayment amount of each installment is the same. That is, the total principal and interest of the mortgage loan are added together, and then evenly distributed to each month of the repayment period, and the repayment amount of each month is fixed.
However, the proportion of principal in monthly repayment increases month by month, and the proportion of interest decreases month by month. This method is the most common and recommended by most banks for a long time.
In the average capital, the total amount of loans is divided into equal parts during the repayment period, and the same amount of principal and interest generated by the remaining loans in the month are repaid every month. In this way, because the monthly repayment amount is fixed and the interest is getting less and less, it starts to get less and less, and the monthly repayment is not fixed.
Repayment by installments: the loan is divided into several installments, and each installment contains several installments. In each single installment, the total repayment amount of each installment is different. At the end of the loan term, there are three options: pay off the final payment in full and apply for extension 12 months; Used car replacement.