How to calculate car interest formula, car loan interest calculation formula

Suppose you buy a car: down payment: 90,000 * 30% = 27,000 balance payment:

90000-27000 = 63000 interest: 63000 * 9% * 3 = 17000 total: down payment + balance + interest = 27000 + 63000 + 17000 = 107000, the vehicle landing is about more than 107,000.

A car loan is a loan issued by a lender to a borrower who applies to purchase a car. An auto consumer loan is a RMB guaranteed loan issued by a bank to a car buyer who purchases a car at its authorized dealership.

A new way to borrow.

Further information: A car loan is a loan issued by a lender to a borrower who applies to purchase a car, also known as a car mortgage. Loan object: The borrower must be a permanent resident of the place where the lending bank is located and have full capacity for civil conduct.

Loan conditions: The borrower has a stable occupation and the ability to repay the principal and interest of the loan, and has good credit; A third party who can provide recognizable assets as collateral or pledge, or a third party with sufficient solvency can act as a guarantor to repay the principal and interest of the loan and bear joint and several liability. Loan Amount:

The maximum loan amount is generally not more than 80% of the purchase price of the car. Loan term: The term of auto consumer loans is generally 1-3 years, and the longest is not more than 5 years.

Loan interest rate. by the People's Bank of China.

Uniform provisions. Loan repayment method: You can choose the lump sum principal and interest repayment method and the installment repayment method (equal principal and interest.

equal principal). Auto finance or guarantee company.

That is, a third party with sufficient solvency acts as a guarantor to repay the principal and interest of the loan and bear joint and several liability.

The channels for applying for loans are: bank loans.

Choose to buy a car through a bank loan, the loan interest rate is moderate, and there are many types of cars to choose from. However, in fact, it takes more time and energy to apply for a loan, and in order to control risks, banks usually take a long time to review and need to submit a lot of information from applicants. If you want to apply and are not afraid of trouble, a bank loan is a good choice; Auto Finance Companies:

In addition to being convenient and fast, the application threshold for buying a car through an auto finance company is not high, as long as the consumer has a certain repayment ability and pays the down payment of the loan, he can apply for a loan. However, consumers also need to pay attention to the fact that auto finance companies take out loans to buy cars, and the cost of the loan is usually relatively high, and generally you need to pay a series of fees such as handling fees in addition to loan interest fees. Microfinance companies.

The threshold for buying a car through a loan from a small loan company is not high, the choice of vehicle models is not restricted, and the rate is higher than that of banks. The loan method and repayment method are more flexible, and the approval is slightly faster than that of banks.

The formula for calculating the interest when buying a car is: loan interest = principal interest rate term.

Based on the current common annual interest rate, the car **100,000 yuan, the loan for three years, the interest is 15,450 yuan.

Loan interest rates vary depending on the length of the loan, but generally speaking, the maximum term for a car loan is 5 years.

If the loan term is less than 1 year (including 1 year), the annual interest rate of the loan is; If the loan term is between 1 year and 5 years, the interest rate is in. However, this rate is the benchmark rate and will fluctuate by 10% in practice.

After talking about interest, let's talk about the loan method, there are two types: equal principal and interest or equal principal.

1.The equal principal and interest repayment method is a method of repaying the principal and interest of the loan evenly every month with the same amount during the loan period, and the calculation formula of monthly repayment is: monthly repayment amount = loan principal monthly interest rate (1 + monthly interest rate) number of repayment months [(1 + monthly interest rate) number of repayment months - 1].

2.The equal principal repayment method is a method of repaying the loan principal in equal amounts every month, the loan interest decreases with the principal month by month, and the monthly repayment amount is calculated by the formula: monthly repayment amount = loan principal Number of months of loan period + (principal - cumulative amount of repaid principal) Monthly interest rate.

However, banks will take into account various risks, such as rapid depreciation of the car and repayment risk, etc., and most of the loan terms will be reduced by 1 year on the original basis. It also becomes a first-hand car loan to be paid off in 4 years, and a second-hand car loan to be paid off in 2 years.

Loan calculation formula:1. The principal and interest repayment method means that the principal and interest of the loan are repaid in equal amounts every month during the loan period. Monthly repayment amount = loan principal Monthly interest rate (1 + monthly interest rate) Number of repayment months [(1 + monthly interest rate) Number of repayment months - 1];

2.The average capital repayment method (the method of paying off the principal with interest), that is, the loan principal is repaid in equal amounts every month, and the loan interest decreases with the principal month by month. Monthly repayment amount = loan principal Number of months of loan term + (principal - cumulative amount of principal repaid) Monthly interest rate.

Extended information: A car loan is a loan issued by a lender to a borrower who applies to buy a car. Auto consumer loan is a new type of loan method in which banks provide RMB guaranteed loans to car buyers who purchase cars at their authorized dealers.

The interest rate of automobile consumer loan refers to the ratio of the loan amount to the principal amount of the bank to the consumer, that is, the borrower, to purchase a car for his own use (a non-profit family car or a commercial vehicle with 7 seats or less). The higher the interest rate, the greater the consumer's repayment.

The actual interest rate of the car loan shall be set by the handling bank according to the actual situation of the customer and with reference to the benchmark loan interest rate stipulated by the central bank. There are three types of car loans: direct car loans, indirect car loans, and credit card car loans. The loan term is generally 1-3 years, with a maximum of 5 years.

Potential borrowers.

The borrower must be a permanent resident of the place where the lending bank is located and have full capacity for civil conduct.

Term. The term of a consumer loan is generally 1-3 years, and the longest is not more than 5 years. Among them, the loan term of second-hand car loans (including extensions) shall not exceed 3 years, and the loan term of dealer car loans shall not exceed 1 year.

Loan interest rate. Benchmark interest rate.

According to the regulations of the central bank, the benchmark interest rate is implemented for car loans, but financial institutions can float within a certain range above and below the benchmark interest rate. The term of car loans of major banks is generally not more than 5 years, and the interest rate of car loans directly determines the cost of people's loans, thus becoming an important factor in determining whether people take out loans.

How is the car loan interest rate calculated?

The formula for calculating monthly instalment is: a = p (1+i) [1+i) n-1] n 2 i.

A: Monthly contributions.

p: The total amount of donations.

i: Monthly interest rate (12 per annum).

n: Total number of months of contribution (year 12).

Loan interest rate. The actual interest rate of the car loan shall be set by the handling bank according to the actual situation of the customer and with reference to the benchmark loan interest rate stipulated by the central bank. In general, customers with excellent conditions can enjoy the benchmark interest rate or will be reduced by about 10%, and ordinary customers need to increase the benchmark interest rate by about 10%.

Application Materials. 1.Original ID card, household registration booklet or other valid proof of residence, and provide a photocopy;

2.Proof of occupation and financial income, as well as a list of personal accounts for the past 6 months;

3.A purchase agreement, contract or letter of intent with the dealership;

4.Other documents and information required by the cooperating institutions.

The calculation formula of car loan: 1. Repayment of principal and interest, that is, the loan principal and interest are repaid evenly every month with the same amount during the loan period, and the monthly repayment calculation formula is: monthly repayment amount = loan principal monthly interest rate (1 + monthly interest rate) number of repayment months [(1 + monthly interest rate) number of repayment months - 1];

Further information: A car loan is a loan granted by a lender to a borrower who applies to purchase a car.

The actual interest rate of the car loan shall be set by the bank according to the actual situation of the customer and with reference to the benchmark interest rate of the loan stipulated by the central bank. There are three main types of car loans: direct customer type, indirect customer type, and credit card car loan. The term of the car loan is generally 1-3 years, and the longest is not more than 5 years.

Type of car loan. Car loan personal loan car purchase business is divided into three types: direct customer, intermittent customer, and credit card car loan. The direct customer type is generally a bank car loan for the customer to meet directly for the loan, and the indirect customer type is generally the car loan of the auto finance company that transfers the customer.

For direct customer bank car loans, the fees charged are deposits, principal and interest, 3% guarantee fees, etc., and the fees for high-quality customers of banks will also be discounted, but the preferential policies of each bank are different.

In addition to the above fees, the car loan of the inter-passenger auto finance company also needs to bear the supervision fee, fleet management fee, and warranty renewal deposit.

There is also a credit card car loan, credit card installment car loan only provides installment payment for bank credit card users, not any conditions can be handled, and there is also a review process, which is difficult for credit card users with bad credit records.

The specific steps to buy a car in installments with a credit card are roughly as follows:

1.The cardholder (or applicant)** can contact the bank's credit card center or go to the local bank to find out if the credit card car loan can be processed.

2.The cardholder shall go to the dealer with his/her ID card to fill in the installment order of Auto Purchase on the spot, and submit it to the bank for review.

3.When the order is approved, the cardholder pays the down payment and goes through the normal purchase procedures.

4.After the license plate of the vehicle is issued, the cardholder needs to go through the mortgage procedures with the bank and purchase the required required car insurance insurance.

5.In the end, we were able to drive the car away without any problems.

Loan terms. 1.Have a valid identity certificate and have full capacity for civil conduct;

2.Able to provide proof of fixed and detailed residential address;

3.Have a stable job and the ability to repay the principal and interest of the loan on time;

4.Personal social credit is good;

5.Hold a contract or agreement for the purchase of the car approved by the lender;

6.Other conditions stipulated by the cooperating institutions.

Summary. The formula for calculating the interest when buying a car is: loan interest = principal interest rate term.

The formula for calculating the interest when buying a car is: loan interest = principal interest rate term.

How to calculate the interest on a car loan Equal principal and interest Equal principal and interest is one of the ways to calculate the interest on a car loan, and its formula is the total interest of repayment = loan amount * number of months of loan * monthly interest rate * (1 + monthly interest rate) number of months of loan [(1 + monthly interest rate) number of months of repayment - 1] - loan amount. Equal principal amount is also one of the ways to repay a car loan, and its calculation formula is monthly repayment amount = (loan principal repayment months) + (loan principal - regressive deferred amount of repaid principal) monthly interest rate. There are two main repayment methods for car loans: equal principal and interest and equal principal, and the preferred repayment method.

The way interest is calculated is also different. Therefore, it only needs to be calculated according to the repayment formula to calculate the loan interest.

Your consultation questions are as follows: The main methods for calculating the interest on the car loan are as follows:1

Determine the loan amount: This is how much you actually borrow to buy a vehicle. Let's say $300,000.

2.Determine the lending rate: It is usually the benchmark interest rate announced by the bank, and then the final lending rate is obtained by raising a certain spread on the benchmark interest rate.

For example, when the benchmark interest rate is 4%, the loan interest rate is. The loan interest rate is assumed to be. 3.

Determine the loan term: Usually car loans have a term of 3-5 years, depending on your financial situation. Here we set the loan term for 5 years.

4.Calculate the monthly interest: loan amount x loan interest rate x 1 12 = 300, yuan.

5.Calculate the monthly instalment repayment: According to the interest rate and the term, it is 300,000 60 instalments = 5,000 yuan.

6.Calculate the actual interest paid: The interest will be calculated and accumulated every month for 5 years, and the total interest will be 300,000 yuan.

7.Actual repayment amount: The total cost of (5,000 + 525) x 60 = 316,000 yuan is calculated based on the monthly repayment amount plus interest.

The specific calculation steps of jujube hail: loan amount = 300,000 yuan loan interest rate = loan term = 5 years monthly interest = 300, yuan monthly installment repayment amount = 300,000 60 installment = 5,000 yuan total monthly interest within 5 years = 525 x 60 months = 31,500 yuan actual total interest = 31,500 + 31,500 = 63,000 yuan actual repayment amount = 5,000 x 60 + 31,500 =More than $316,000 is the general step and method of calculating the interest on a car loan. The amount of interest depends on the interest rate and term, and the repayment amount will increase in combination with the increase in interest.

Summary. Hello dear. The calculation is as follows:

1.Start by determining the amount to borrow and the duration of the loan. For example, the loan amount is 100,000 yuan and the loan term is 3 years.

2.The interest rate is then determined. Interest rates are determined by banks or financial institutions based on factors such as market conditions and the borrower's credit rating, and are usually calculated on an annual basis.

For example, the interest rate is 5%. 3.Calculate interest.

Interest = Amount Borrowed Interest Rate Borrowed Period. Interest = 100,000 yuan 5% 3 = 150,000 yuan. 4.

Finally, calculate the monthly repayment amount. Monthly repayment amount = (borrowing amount + interest) Borrowing term 12. Monthly repayment amount = (100,000 yuan + 150,000 yuan) 3 12 = 8,750 yuan.

Hello dear. The calculation is as follows:1

First, determine the amount of the loan and the term of the loan. For example, the loan amount is 100,000 yuan, and the loan term is 3 years. 2.

The interest rate is then determined. Interest rates are determined by banks or financial institutions based on factors such as market conditions and the borrower's credit rating, and are usually calculated on an annual basis. For example, the interest rate is 5%.

3.Calculate interest. Interest = Amount Borrowed Interest Rate Borrowed Period.

Interest = 100,000 yuan 5% 3 = 150,000 yuan. 4.Finally, calculate the monthly repayment amount.

Monthly repayment amount = (borrowing amount + interest) Borrowing term 12. Monthly repayment amount = (100,000 yuan + 150,000 yuan) 3 12 = 8,750 yuan.

The method of calculating interest may be different for different loan methods. For example, equal principal and interest and equal principal are calculated differently. 2.

Interest rates are determined based on factors such as market conditions and the borrower's credit rating, so different borrowers may have different interest rates. 3.During the loan period, if the loan is repaid in advance, liquidated damages or other fees may be incurred.

Any questions, dear? 