1. How much interest is legal for buying a car in installments?

1. Bank car loan: The bank car loan interest rate is usually between 5% and 12%, and the one-year loan interest rate is between 3% and 6%, which means a loan of 50,000 yuan. One year's interest is about 1,500-3,000 yuan;

2. Auto finance company loans: There are usually some regular interest-free activities for loans in financial companies, but a certain amount of procedures will be charged in car 4S stores fee. On the premise of charging interest, the interest rate is about 8%-12%. If the loan is 50,000 yuan, the interest per year is about 4,000-6,000 yuan;

3. Credit card repayment of car loan in installments The interest rate is directly related to the number of installments, loan amount, and installment interest rate.

2. It is illegal if the interest rate of a car loan exceeds the certain amount

Legal analysis: Car loans are financial loans, and it is illegal when the interest rate of a financial loan exceeds 36%. When the car loan interest rate is less than or equal to 24%, this interest rate is a judicial protection zone. The range of 24%-36% belongs to the natural debt area. For example, if the parties request protection of the interest in this range according to the loan contract, they will not be given legal protection. If the loan interest rate exceeds 36%, the excess part is invalid.

Legal basis: "Regulations of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" Article 27 After the borrower and the lender have settled the principal and interest of the earlier loan, the interest will be included in the later loan principal and the creditor's rights will be re-issued Voucher, if the early interest rate does not exceed four times the one-year loan market quotation rate when the contract is established, the amount stated in the reissued credit voucher can be recognized as the later loan principal. The excess interest shall not be regarded as the later loan principal.

Based on the calculation of the preceding paragraph, the sum of principal and interest payable by the borrower after the expiration of the loan period exceeds the initial loan principal and the initial loan principal as the basis, based on the one-year loan market at the time the contract is established. If the quoted interest rate is four times the sum of the interest for the entire borrowing period, the people will not support it.

3. How much is the interest rate for buying a car in installments?

Within two years it is interest-free, and for more than two years it is more than 4 points

4. What is the interest rate for buying a car in installments? How much

Car price down payment = cash car purchase price × (down payment ratio 30%-80%)

Total down payment = down payment insurance premium

Loan Amount = cash car purchase price - down payment

The average monthly payment takes a five-year period as an example.

The calculation formula is: principal repayment amount per period = loan principal/number of repayment periods

The interest payable in each period = the remaining principal of the previous month × the monthly interest rate of the loan.

1. Bank loan base interest rates: 1-year 6.666%, 2-3 years 6.71%.

2. Total down payment = the down payment must cost commercial insurance.

3. Purchase tax = car purchase price/(117%) × purchase tax rate (10%).

4. Licensing fee: Usually, the one-stop service provided by merchants costs about 500 yuan, and individual processing is about 373 yuan, including 150 yuan for industrial and commercial verification, warehouse delivery, 40 yuan for relocation, and 20 yuan for driving license photos

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5. Vehicle and vessel use tax: Different provinces are not unified. Taking Beijing as an example, it is 480 yuan/year for buses with 9 seats or less, and 540 yuan/year for buses with 9 seats or more.

6. Compulsory traffic insurance: 950 yuan/year for a household with 6 seats or less.

7. The total discount for conventional insurance is 77%.

8. Vehicles.

9. Full car theft insurance: new car purchase price ×

10. Glass breakage insurance: imported new car purchase price × 0.25%, domestic new car purchase price × 0.15 %.

11. Spontaneous combustion loss insurance: new car purchase price × 0.15%.

12. Excluding deductible special insurance: (vehicle damage insurance third party liability insurance) × 20%.

13 Liability insurance premium × 20%.

14. Vehicle personnel liability insurance: The premium is 50 yuan per person, which can be filled in according to the actual number of seats in the vehicle.

The total price of the car is 9,000 for three years.

The monthly bank interest is 0.5025%, and the monthly loan payment is 1,917.43 yuan.

The interest rate of the financial company is 0.615%, and the total loan amount is 70,423.92 yuan.

The high interest rate is 0.9%, the total loan amount is 74,036.52 yuan, and the monthly payment is 2,056.57 yuan.

Notes

Whether you need a loan to buy a car depends on the car owner’s financial situation. Relevant people in the industry have loans to buy cars, which not only allows people who don't have enough money to buy cars, but also allows some citizens who have enough funds but have other uses to free up some of the funds that would have been padded in the car price for development. However, the benefits derived from this are great.

There is no doubt that "interest-free and handling fee-free" has made many people who could not afford a car have the urge to buy a car. However, the problems behind this excellent value for money have made many people not consider it carefully. Some auto credit practitioners believe that consumers must pay attention to three points when purchasing a car with a loan:

First, after enjoying the merchant's "zero interest-rate and interest-free loan", can you still enjoy the car price discount?

Second, the car loan handling fee in the market today is in the range of 4% to 7.5%. Is the interest exemption increasing the handling fee?

Third, the general car purchase interest rate is charged according to the bank's benchmark interest rate. Whether the handling fee is waived, the interest will rise based on the bank's benchmark interest rate. At the same time, because you choose a loan, the new car insurance must be "fully insured", which will incur larger premium expenses.

Reference for the above content: Baidu Encyclopedia - Car Purchase Installment

Reference for the above content: Baidu Encyclopedia - Car Loan