Calculation formula of equal principal and interest: [loan principal × monthly interest rate× (1+monthly interest rate) repayment months] ÷ [(1+monthly interest rate) repayment months-1]
Calculation formula of average capital: monthly repayment amount = (loan principal ÷ repayment months)+(principal-repaid principal.
Automobile consumption loan is a new loan method that banks provide RMB-guaranteed loans to car buyers who buy cars at their special dealers. Buying a car by loan refers to the loan issued by the lender to the borrower who applies for buying a car. In fact, it is to borrow money from financial institutions to buy a car. However, financial institutions require car buyers to pay a certain percentage of down payment and provide proof of repayment ability. They have no bad credit history and must meet the requirements of financial institutions to apply for loans to buy a car.
A car buyer must also meet the following conditions:
(1) A car buyer must be at least 18 years old and a China citizen with full civil capacity.
(2) Car buyers must have a relatively stable job, a relatively stable economic income or assets that can be easily realized, so as to repay the loan principal and interest on schedule. Assets that are easy to realize here generally refer to securities and gold and silver products.
(3) During the loan application period, the car buyer shall deposit no less than the down payment stipulated by the bank in the account of the bank savings counter.
(4) provide bank-recognized guarantee. If the individual account of the car buyer is not local, it should also provide joint liability guarantee, and the bank will not accept the mortgage set by the car buyer for the car purchased with the loan.
(5) Car buyers are willing to accept other conditions that the bank deems necessary.
Choose the loan method. The main repayment methods are:
Worry-free Smart Loan:
Commonly known as "half loan, half payment"; 5% repayment at the end of the loan period. At the end of the loan period, there are three options: paying off the final payment in full; Apply for a 12-month extension; Used car replacement.
Smart loan:
Divide the loan into two parts, and pay it back at the first and last stages respectively. At the end of the loan period, there are three options: paying off the wisdom balance in full; Apply for a 12-month extension; Used car replacement.
Equal repayment:
During the loan period, the repayment amount of each installment is the same. The loan period is 13-6 months, and the down payment is as low as 2%. According to your personal qualifications and the car you bought, we will provide a loan scheme specially designed for you
and other repayments:
During the loan period, the repayment amount of each installment will gradually decrease. The loan term is 13-6 months, and the down payment is as low as 2%. According to your personal qualifications and the car you bought, we will provide a loan scheme specially designed for you.
Repayment by stages:
Divide the loan into several stages, each of which contains several installments; In each single segment, the total repayment amount of each period is different; At the end of the loan period, there are three options: paying off the final payment in full; Apply for a 12-month extension; Used car replacement