Loan calculation formula: 1. Repaying the principal and interest, that is, repaying the loan principal and interest in equal amount every month during the loan period.
Divide the loan into two parts and repay them in the first and last installment respectively. At the end of the loan period, there are three options: paying off the wisdom balance in full; Apply for extension 12 months; Used car replacement. Total cost of car purchase = initial cost monthly payment × repayment period. During the loan period of equal repayment, the repayment amount of each installment is the same.
Loan interest = residual loan interest rate; Because you are paying the principal every month, the interest on your loan decreases month by month; Loan amount (total repaid loan) Interest rate Monthly repayment of principal = Total monthly repayment.
If it is two years, it needs to repay 5000 yuan per month, if it is three years, it needs to repay 3333 yuan per month. The installment amount of car loan for two or three years is an affordable monthly payment for residents in big cities. Generally speaking, different banks and borrowers apply for bank automobile mortgage, and the expected annualized interest rate of loans actually approved is different.
How to calculate the interest on car loans?
Calculation method of car loan interest: The calculation formula of daily interest rate is generally: daily interest rate = annual interest rate /360 monthly mortgage amount = [loan principal × monthly interest rate ×( 1 interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months].
Different banks have different regulations on car loan interest rates. The benchmark interest rate of central bank loans takes China Construction Bank and China Merchants Bank as examples. It is understood that the one-year car loan interest rate of CCB is 3 1%, and the interest rate for 3-5 years (including 5 years) is 4%; The one-year loan interest rate of China Merchants Bank is 1%, and the interest rate for 3-5 years (including 5 years) is 5%.
Car loan interest is generally mainly related to the loan interest rate and term, and the calculation formula is: car loan interest = loan amount annual interest rate term.
Monthly payment formula: a = p (1I) [(1I) n-1]/N2/i. Monthly payment.
If you apply for a personal loan at China Merchants Bank, "interest" is calculated according to the total loan amount, loan term, execution interest rate, repayment method and other factors. The biggest loan cost for banks in automobile mortgage is loan interest. Different banks and loans with different maturities have different interest rates.
To calculate the annual interest rate of car loan, you can use this formula: car loan annual interest rate = car loan principal × car loan annual interest rate. It is generally known that the annual interest rate of car loan can be calculated by knowing the principal and annual interest rate of car loan, both of which are stated in the car loan contract.
How to calculate the car loan
Calculation method of car loan interest: The calculation formula of daily interest rate is generally: daily interest rate = annual interest rate /360 monthly mortgage amount = [loan principal × monthly interest rate ×( 1 interest rate )× repayment months ]⊙[( 1 interest rate )× repayment months].
At present, there are two ways to calculate the monthly payment of car loan: one is formula calculation, the other is car loan calculator calculation. There are two common repayment methods for bank car loans: equal principal and interest repayment and equal principal repayment.
The calculation method of car loan includes equal principal and interest and average capital, and can also be calculated by car loan calculator.
To calculate the annual interest rate of car loan, you can use this formula: car loan annual interest rate = car loan principal × car loan annual interest rate. It is generally known that the annual interest rate of car loan can be calculated by knowing the principal and annual interest rate of car loan, both of which are stated in the car loan contract.
This is the end of the introduction of how to calculate the car loan and how to calculate the car loan. I wonder if you have found the information you need?