At present, in some banks, car loan credit cards can be used as consumer credit cards, and the amount given to customers is higher than monthly installment payment. They can also apply for normal credit card spending, online payment and other withdrawals.
Car loan refers to the loan issued by the lender to the borrower who applies for buying a car. 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 interest rate of automobile consumption loan refers to the ratio of the loan amount to the principal given by the bank to consumers, that is, borrowers, for purchasing their own cars (non-profit family cars or commercial vehicles with less than 7 seats). The higher the interest rate, the greater the repayment amount of consumers.
Automobile loan channel
1. auto financing company: the biggest advantage lies in convenience and low threshold. Companies are generally founded by car companies. Its "convenience" is not only reflected in the direct application through 4S stores, but also in the fact that there are no requirements for hard conditions such as hukou and real estate.
2. Buying a car with a credit card: The most obvious advantage lies in the loan interest rate, which is half lower than the traditional bank car loan interest rate. Ordinary credit cards can be applied, and the models are also cross-brand, with a wide range of choices. The premise is that you need a higher credit line to enjoy it.
Repayment method
You can choose one-time repayment and installment repayment (equal principal and interest, average principal).
One-time principal and interest payment method
Also known as one-time repayment of principal and interest at maturity, 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 at one time 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. At present, the bank stipulates that the loan period is within one year (including one year), so the repayment method is a one-time repayment of principal and interest, that is, the principal of the initial loan plus the interest of the whole loan period. The calculation formula of one-time repayment of principal and interest is as follows:
One-time repayment amount = loan principal ×[ 1+ annual interest rate (%)] (loan term is one year)
One-time repayment of principal and interest at maturity = loan principal ×[ 1+ monthly interest rate (‰ )× loan term (month)] (loan term is less than one year)
Where: monthly interest rate = annual interest rate12.
If the housing provident fund loan is 6,543,800 yuan and the loan period is 7 months, the one-time repayment of principal and interest is:
10000 yuan × [1+(4.14% ÷ 65438+February) × July] = 1024 1.5 yuan.
Average capital plus 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.
The calculation formula of monthly repayment amount is as follows:
[loan principal × monthly interest rate ×( 1+ monthly interest rate) repayment months ]=[( 1+ monthly interest rate) repayment months-1]
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. In this way, because the monthly repayment amount is fixed and the interest is less and less, the lender is under great pressure to repay at first, but with the passage of time, the monthly repayment amount is less and less.
Calculation formula of average capital loan:
Monthly repayment amount = (loan principal/repayment months)+(principal-accumulated amount of repaid principal) × monthly interest rate.
Microfinance and low interest rates:
For example, the loan is 6.5438+0.2 million yuan, with an annual interest rate of 4.86% and a repayment period of 654.38+00 years.
Matching principal and interest:1repayment after 0 years 15 1750.84 yuan, with total interest of 3 1750.84 yuan.
Average capital:1repayment after 0 years 149403.00 yuan, with total interest of 29403.00 yuan.
3. Bank car loans, banks are facing the pressure of tightening credit scale, consumer loans such as car loans have shrunk sharply, and the loan doors of some middle and low-end cars have been temporarily closed. The biggest advantage is a wide range of choices. Car buyers can go directly to the bank to apply for personal car consumption loans after they take a fancy to the models.
However, the procedure of lender qualification examination is very complicated. It is generally necessary to provide real estate (such as real estate) as collateral. Some banks are open to high-end customers or high-end models, and the car itself can be used as a mortgage. However, compared with other car loan methods, the time period for approval is very long. In terms of loan interest rate, the auto mortgage interest rate generally rises by about 10% on the basis of the benchmark bank loan interest rate in the same period. Most car loan businesses need guarantee companies to guarantee or buy car guarantee insurance, and car buyers also need to bear 2.5% to 3% guarantee fees. When all procedures are added up, the comprehensive cost of bank car loan is the highest among the three ways.