Vehicle mortgage loan refers to the loan obtained from some financial institutions or automobile consumption loan companies with the borrower or a third party's car or self-purchased car as collateral. 70% of the loan amount. Many borrowers have asked, how much is the interest on car mortgage? Teach everyone to calculate loan interest in one minute!

How much is the interest on car mortgage?

The interest rate range in automobile mortgage is roughly 0, but most interest rates in automobile mortgage are based on the monthly interest rate, with a difference of more than 1 minute. Interest loan interest rate loan term

Generally speaking, banks will require vehicle loans, and institutions will require vehicles to be guaranteed by lenders.

Loans can be used to buy raw materials, repair, travel, weddings and other consumption purposes. Bank's vehicle mortgage loans are generally not allowed to be used for buying houses, studying abroad, investing in financial securities and other purposes.

The general car loan interest rate is slightly higher than the bank benchmark interest rate. The average interest rate of bank car loan is generally one year according to the bank benchmark interest rate, and the one-year car loan interest rate is one year. Suppose that the borrower handles the principal and interest of automobile mortgage by RMB 6,543,800+,the total interest is RMB, the total repayment amount is RMB, and the monthly repayment amount is RMB. According to the average principal repayment method, the total interest is RMB, the total repayment is RMB, and the repayment in the first month is 8843.

Second, how to calculate the interest on auto mortgage loan?

Generally speaking, the auto loan interest rate is slightly higher than the bank benchmark interest rate. For example, at present, the auto loan interest rate of ordinary banks generally rises by 10% according to the bank benchmark interest rate. Before the interest rate adjustment, the central bank's benchmark annual interest rate was 65438+5.3 1% for 0 years and 5.40% for 2-3 years. Auto loan interest rate 1 year, 5.84 1%, 2-3 years, 5.94%. After interest rate adjustment, the benchmark annual interest rate of the central bank is 65438+5.56% for 0 years and 5.60% for 2-3 years. The car loan interest rate is 65438+6. 1 16% for 0 years and 6. 16% for 2-3 years.

Banks generally have requirements for the age, mileage and vehicle valuation of loan vehicles. The threshold of financial institutions such as P2P is low, but financial institutions will require vehicles to be registered in the name of lenders, with licenses and no guarantees.

Extended data

First, the automobile mortgage conditions

Basic conditions that the borrower must meet:

1. China citizens who have reached the age of 18, have full capacity for civil conduct and have a permanent residence in China.

2 have a stable professional and economic income, and can guarantee to repay the loan principal and interest on a regular basis.

3. Guarantee can be provided.

4. Other conditions stipulated by the bank.

Second, the information needed by automobile mortgage

Requirements and materials for applying for automobile mortgage service of Rongdao. com:

1. has a stable occupation, and the applicant has the ownership of the local mortgaged vehicle;

2. Enterprises that have been living and working in this city for a long time;

3, motor vehicle registration certificate, driving license, purchase tax additional proof (this), car purchase invoice;

4. Insurance policy, travel tax and relevant tax payment certificates for imported vehicles;

5, ID card (non-local account customers provide temporary residence permits or residence permits within the validity period.