According to the regulations of the Central Bank, car loans are subject to the benchmark loan interest rate, but each financial institution can float within a certain range above and below the benchmark interest rate. The auto loan period of major banks generally does not exceed 5 years. The benchmark interest rate for loans within 5 years (including 5 years) is:

1. Short-term loans

Within six months (including six years) month): 5.85; six months to one year (including one year): 6.31.

2. Medium and long-term loans

One to three years (including three years): 6.40; three to five years (including five years): 6.65.

According to the above interest rate, the interest is 8W*3*0.064=15360 yuan.

Extended information

There are currently three main forms of car loans:

1. Credit card installment car purchase

Banks do not charge interest. Only installment fees are charged. However, different banks have different credit card installment fees, so the specific interest rate will be determined based on the credit card installment amount, number of installments, and installment interest rate.

2. Bank automobile consumption loans

Each bank has automobile consumption loan services. The loan interest rate is generally between 5 and 12, and the interest rate for a year's loan is between 3 and 6. time, that is to say, for a loan of 100,000 yuan, the interest for one year is about 3,000-6,000 yuan.

3. Car finance company loans

Car finance company loans sometimes have interest-free activities, but the 4S store will charge a part of the service fee. If interest is charged, the interest rate is about 8-12, which means that for a loan of 100,000 yuan, the interest per year is about 8,000-12,000 yuan.

Baidu Encyclopedia-Car Loan Interest Rate