1. How to calculate the interest on bank loans to buy a car

In fact, there are different loan methods, such as bank mortgage loans, auto finance company loans, credit card installment payments, and consumer loans to buy a car. Therefore, for different loan methods, the interest charge is not the same.

So how to calculate the interest on the loan to buy a car depends on the borrower's specific loan to buy a car.

the formula for calculating the interest of a general loan to buy a car is: interest = amount of funds × interest rate × loan period. If it is a general commercial mortgage loan and the borrower borrows from a bank, the interest rate is based on the benchmark interest rate (for example, the benchmark annual interest rate is 6.15% for a three-year period), and at the same time, the repayment method is equal to the principal and interest, and the monthly repayment interest is reduced. If it is credit card installment payment, there is no need to calculate interest within the specified number of installments, but only a certain amount of handling fee is charged at one time. Relatively speaking, credit card installment payment is more affordable.

Consumer loans can be mortgage loans or other loans to buy a car, and the interest rate is still based on the bank's benchmark interest rate, which is basically the same as mortgage loans. The loan interest of auto financing companies is higher than that of commercial loans, which is generally about 1.91% higher than that of commercial banks to buy cars.

second, how to calculate the interest on car loan from bank

down payment: 93%=27

balance payment: 9-27=63

interest: 639%3=17

total amount: interest on the balance of down payment = 27. Automobile consumption loan is a new loan method that banks issue RMB-guaranteed loans to car buyers who buy cars at their special dealers.

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

Extended information

The matters needing attention in car loan are as follows:

1. After enjoying the "zero-interest-free loan" from the merchants, can you still enjoy the car price discount?

2. The car loan fee in the market a few days ago was in the range of 4%~7.5%. Did you avoid interest and increase the fee?

3. The car purchase interest rate is charged according to the bank's benchmark interest rate. Whether the handling fee is exempted or not, the interest will rise on the basis of the bank's benchmark interest rate.

The most important thing when making a car loan is to shop around. Consumers should choose a regular car loan service company with certain qualifications and strength, which is not only standardized in terms of services and fees, but also will not leave hidden dangers.

Factors causing interest:

1. Delaying consumption. When the lender lends money, it is equivalent to delaying the consumption of consumer goods. According to the principle of time preference, consumers will prefer current goods to future goods, so there will be positive interest rates in the free market.

2. Expected inflation, most economies will experience inflation, which means a certain amount of money, and fewer goods can be purchased in the future than at present. Therefore, the borrower needs to compensate the lender for the losses during this period.

3. instead of alternative investment, lenders have the choice to put their money on other investments. Due to the opportunity cost, lenders lend money, which is equivalent to giving up the possible returns of other investments. Borrowers need to compete with other investments for this fund.

4. Investment risk: The borrower is at risk of bankruptcy, absconding or default at any time, and the lender needs to collect extra money to ensure that compensation can still be obtained in these cases.

5. Liquidity preference, people will prefer that their funds or resources can be traded immediately at any time, instead of taking time or money to get them back. Interest rate is also a kind of compensation for this.