1. What are the repayment methods of car loan?
Car loan can choose one-time principal and interest repayment method and installment repayment method. Repayment by installment: equal principal and interest, average principal.
1, one-time principal and interest repayment method
Also known as the one-time repayment method, it means that the borrower does not repay the principal and interest on a monthly basis during the loan period, but pays the principal and interest in one lump sum after the loan expires. Recently, the People's Bank of China issued a personal housing loan with a term of 1 year (including 1 year), which adopted this method.
2. Equal principal and interest
Matching principal and interest refers to a repayment method of housing loans, that is, repaying the same amount of loans (including principal and interest) every month during the repayment period.
3. Average capital
It is to divide the total loan into equal parts during the repayment period, and repay the same amount of principal and the interest generated by the remaining loans in the month every month, so that the monthly repayment amount is fixed and the interest is less and less.
Second, the matters needing attention in loan car purchase
1, interest-free car loan ≠ no handling fee
Nowadays, in order to attract consumers to buy their own cars, many dealers will offer interest-free car loans, but this is not the case, because although they give you interest-free on the surface, they actually charge a handling fee, which is actually similar to interest, not really interest-free as they say.
You need to buy car insurance.
Under the premise that the loan for buying a car has not been fully paid off, the acquaintances of the car do not belong to consumers. In order to reduce the risk, dealers usually put forward some car insurance that must be purchased as loan conditions in the car loan contract.
When buying a car with a loan, as a condition and requirement of buying a car with a loan, the dealer will ask consumers to buy four main insurances in our store. For example, for a 200,000 car, the insurance premium is about 1000 yuan, so when buying a car, you must read the insurance clauses carefully to avoid falling into the trap.
3. Negotiate the termination agreement before handling the mortgage.
When consumers borrow money to buy a car, they will encounter the situation that the funds are slower than before because the audit fails. When signing a contract, they must pay attention to the information such as the way, date and amount of refund, which are generally indicated in the signed agreement. At this time, consumers should read it carefully.
4. Confirm the repayment time and amount.
There are two ways to buy a car by loan: equal principal and interest and average capital. After you confirm which method, you need to determine the repayment time and minimum repayment amount. It may increase the repayment cost because of unsuccessful deduction, so to avoid this result, we must confirm the repayment time.
5, the low monthly supply seems to be cost-effective, so pay more attention.
We often hear and see such advertisements: "Just pay back 18 yuan one day" and "Pay back 2,000 yuan a month, and XX will drive home". But don't be deceived by this surface. It seems that you are taking advantage of yourself, but in fact you spend more money. As long as you carefully calculate the interest rate of the loan, these advertisements are all traps. Don't be fooled by others.