1, loan interest rate range: the bank car loan interest rate is generally between 5%- 12%, and the one-year loan interest rate is between 3%-6%. Specific to different banks, such as China Construction Bank, the total car loan expense ratio of 1 year, 2 years and 3 years is 4%, 8% and12% respectively; The total interest rates of two-year and three-year car loans of ICBC and Bank of China are exactly the same as those of CCB, which are 8% and 12%, while ICBC's car loan 1 year is slightly higher, which is 5%.
2. Influence of the number of periods: Different periods will lead to different interest rates. For example, the monthly interest rates of 12, 24 and 36 are 4.9, 4.4 and 4.3 respectively.
3. Other factors: In addition to the loan interest rate and the number of installments, there are other factors that will affect the interest of car purchase by installment, such as down payment ratio, loan amount, pledge or mortgage, etc.
4. Calculation method: The basic interest of car purchase by installment is determined by the bank, and the installment interest payable in each installment = total installment principal × installment interest rate of corresponding installments. To sum up, the interest of buying a car by installment depends on many factors, including the specific interest rate of the loan, the number of installments, the down payment ratio, the loan amount and so on. The specific interest rate and installment policy may be different according to different financial institutions and models.