Can the financial service fee be waived?

Financial service fee is the service fee charged at the time of loan, which is some information collected when helping consumers apply for loans and the fee used in the approval process. According to different dealers, different 4S stores, different models and different brands, there may be some differences. Generally speaking, it is charged at 3% to 5% of the loan amount. However, there is no legal basis for collecting this fee.

Procedures for loan to buy a car

1, customer application. Customers apply to the bank, fill in the application form in writing and submit relevant materials at the same time;

2. Sign the contract. After the application materials submitted by the borrower are approved by the bank, the two parties sign a loan contract and a guarantee contract, and go through the relevant notarization and mortgage registration procedures as appropriate;

3. issue loans. After all the formalities are completed, the loan approved by the bank will be directly transferred to the car dealer account by the bank according to the contract;

4. Repay on schedule. The borrower repays the loan principal and interest according to the repayment plan and repayment method agreed in the loan contract;

5. loan settlement.

deadline

Usually the shortest is 6 months and the longest is 5 years. Shanghai Industrial and Commercial Bank can extend the automobile consumption loan under the official car reform to 8 years at the longest. The longest loan period of Shanghai Agricultural Bank for self-use vehicles is 5 years, and the longest loan period for operating vehicles is 3 years.

The loan interest rate is 4.2% for six months, 4.425% for 1 year, 4.575% for three years, 4.65% for five years and 4.8% for eight years (Shanghai Industrial and Commercial Bank).

5.04% in 6 months, 5.3 1 year, 5.49% in 3 years and 5.58% in 5 years (Shanghai Pudong Development Bank and China Construction Bank).

Repayment method

For loans with a term of less than 1 year, the principal and interest are generally repaid in one lump sum on the maturity date of the loan, and the interest is paid off together with the principal. There are two main repayment methods for loans over one year, and the calculation formula of monthly repayment interest is as follows:

Matching repayment method of principal and interest: total loan amount × monthly interest rate+total loan amount × monthly interest rate ÷[( 1+ monthly interest rate) total repayment months-1].

Average repayment method: loan principal ÷ total repayment months+(loan principal-accumulated repaid principal) × monthly interest rate.

Measures for the administration of automobile sales

Article 10 A dealer shall clearly state the price of selling automobiles, accessories and other related products and the charging standards of various services in an appropriate form at the business site, and shall not increase the price or charge additional fees beyond the marked price.