Total down payment = down payment+insurance premium+license fee

Loan amount = cash purchase price-down payment

The average monthly payment is five years.

The calculation formula is: repayment amount per installment = loan principal/number of repayment installments.

Interest payable in each installment = remaining principal of last month × monthly interest rate of loan.

Extended data

There are various forms of installment payment in the automobile industry, and there are three main types:

(1) Bank consumption loan method;

(2) Loan methods of finance companies of automobile manufacturers;

(3) Financial leasing mode, the market is mainly operated by "Kaiyuan Automobile" brand chain.

Used car staging

Most sellers have launched a one-stop service for credit consumption according to the different needs of consumers, making the cumbersome loan car purchase procedures simple and fast. From car selection, charging, handling bank card, insurance and bank signature to handling parking permit, mobile license plate, car inspection and license registration, all you need to do is submit the required information.

Loan policy for buying used cars Generally speaking, the down payment starts from 20% of the vehicle sales price, and the loan period does not exceed three years.

For lenders, the necessary conditions, required information and loan process are basically equivalent to new car loans. Generally speaking, you are a citizen aged 20-60. You must have a stable job and a stable income to ensure that you have the ability to repay the principal and interest of the car on time.

Installment payment of used cars requires three kinds of materials and certificates: the identity card, household registration book, residence certificate and income or labor certificate of the buyer; Proof of the relationship between the loan purchaser and his spouse; Two recent one-inch photos.

Baidu encyclopedia-car installment payment