1. The interest rate of auto loan shall be determined according to the loan method, loan term, policies and regulations of the loan bank and the actual situation of the borrower. The calculation formula is: interest = loan principal × loan interest rate × loan term.
When buying a car with a bank loan, it should also be noted that the term of the loan will be different depending on the vehicle you buy with the loan. At present, there are six loan terms to choose from: VI. 12, 24, 36, 48 and 60.
3. Precautions for car loan and car pick-up: Check whether the car pick-up procedures are complete before car pick-up. Including ID card, car payment, car pick-up letter, and proof of payment for the final payment; Check vehicle information: car purchase invoice, vehicle certificate, three-guarantee service card warranty, original and photocopy of insurance contract, original and photocopy of compulsory insurance contract, frame number, vehicle identification code, etc.