At present, there are two types of CMB vehicles in stages.
One is the personal car loan business of China Merchants Bank, which uses the equal principal and interest method or the average capital method to repay by installments;
The other is the credit card installment car purchase business of China Merchants Bank.
Personal car loan business of China Merchants Bank
At present, the loan interest rate of China Merchants Bank's personal auto loan business is charged with reference to the central bank's loan interest rate, which is not much different from other banks. For friends with good credit, the interest rate will be lower and the credit difference will be higher.
In terms of repayment method, the average capital method generates less interest than the equal principal and interest method, and the total cost is more cost-effective. But the average capital method will put more pressure on borrowers in the early stage.
In addition, for friends who plan to repay in advance, the average principal method will be more cost-effective than the equal principal and interest method, and there is no need to pay extra interest.