Second-hand car loans must pass the guarantee company's legal basis: Article 674 of the Civil Code of People's Republic of China (PRC), and the borrower shall pay interest within the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.
There are two ways to provide monthly car loans:
First, use the formula to calculate:
There are two common repayment methods for auto loans: equal principal and interest repayment and equal principal repayment.
(1) Monthly repayment formula of equal principal and interest repayment method: monthly repayment amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]=[( 1+ monthly interest rate) repayment months-1].
(2) Calculation formula of average capital repayment method for monthly payment: monthly repayment amount = (loan principal ÷ repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Second, how to calculate the car loan calculator:
1. First, choose whether the repayment method is average capital or equal principal and interest, and then fill in the number of years and amount of the auto loan and the actual interest rate of the loan.
2. Choose whether to display repayment details, and then click the calculate button to get detailed information such as monthly repayment amount, total loan interest, total repayment amount in each installment, etc.
Third, the information needed to prepare a loan to buy a car
1. Application Form: It is very important to fill out the application form for automobile consumption loan. Generally speaking, important information in the form, such as age and repayment ability, will be an important condition for your successful loan application.
2. Personal information: household registration book, guarantor's ID card, real estate license and personal income certificate. All documents must be originals and copies, and generally two copies are required.
3. Proof of repayment: If you buy a car by stages, you must have a stable source of income. You need to pay bills for three to six months.
4. The third party will naturally provide guarantee for repayment of loan principal and interest. Note: Husband and wife do not guarantee each other.
5. Other conditions stipulated by the bank.