What is a down payment loan to buy a car?

How is the down payment for buying a car calculated?

How to calculate the down payment for buying a car: 1. The down payment for buying a car with a loan should be based on the sales price of the car and the loan ratio at the time of loan. calculate. The calculation formula is, the down payment of a car loan = vehicle sales price - (vehicle sales price × loan ratio); 2. For example, when the vehicle sales price is 100,000 yuan and the loan ratio is 60, the down payment of a car loan It is equal to 100,000 yuan - 100,000 × 60 = 40,000 yuan; 3. The maximum amount of a personal car loan shall not exceed 70% of the purchased vehicle price (excluding various additional taxes and premiums). The specific loan amount you can It can only be determined after comprehensive review and approval by the network.

What does it mean to make a down payment when buying a car?

It means buying a car with a loan. In addition to the loan, the remaining money is the down payment. It has the same meaning as buying a house with a loan.

What is a down payment for a car?

If you choose a 4S store to help you apply for a car loan when buying a car, the down payment for the car is generally 30. How is the interest on the loan calculated? It depends on your loan down payment and repayment period. Generally speaking, the interest on the loan is between 5 and 8.

If you have real estate or other collateral on hand, you can use it as collateral to get a loan to buy a car, or if you don’t have a real estate, you can find someone to guaranty you (the guarantor must have a regular job); plus if you have a regular job If you have a stable income and can provide proof of your own income; if your credit record is good, then your down payment for a car loan does not need to be as much as 30, but can be reduced by 10 percentage points, that is, the down payment reaches 20.

Notes

When you see advertising slogans such as "zero down payment", "zero interest rate", "1 yuan loan to buy a car" in the car market, don't be happy just yet. It’s too early and you need to be more vigilant and don’t fall into the traps designed by dealers and loan intermediaries.

These car loan discounts such as "zero down payment", "zero interest rate", and "1 yuan loan to buy a car" seem to be real and will attract the attention of many consumers. These preferential policies look very tempting. People, in fact, most of the discounts are based on raising car prices and increasing agency fees, and some of them are inevitably fraudulent.

What is the meaning of down payment when buying a car?

The down payment is the minimum proportion of the first payment when buying a car, and the remaining balance is borrowed from a bank loan.

How to calculate the down payment for a car purchase with a loan?

Question 1: How to calculate the down payment for a car purchase with a mortgage? The maximum loan amount generally does not exceed 80% of the selling price of the car purchased.

A car loan refers to a loan issued by a lender to a borrower who applies to purchase a car, also called a car mortgage.

Loan target: The borrower must be a permanent resident of the location where the loan bank is located and have full civil capacity.

Loan conditions: The borrower has a stable career and the ability to repay the principal and interest of the loan, and has good credit; he or she can provide recognized assets as collateral or pledge, or a third party with sufficient repayment capacity to repay the principal and interest of the loan. and assume joint liability as a guarantor.

Loan term: The term of automobile consumer loans is generally 1-3 years, with a maximum of no more than 5 years.

Question 2: How to calculate the down payment for a car mortgage? The ratio of the down payment to the naked car, the purchase tax, the insurance amount (all models of the loan need to be fully insured), and the licensing fee

For example, if you want a car A car that costs RMB 00,000, the bare car price is RMB 100,000.

You multiply 100,000 yuan by the loan ratio, and add the following amount,

The purchase tax for a 1.6 displacement is 6,400 yuan. (8540 yuan for 1.6 and above.) The purchase tax is (100,000/1.17) purchase tax rate

The total cost of compulsory insurance and other insurance is ***5,300 yuan.

The car inspection and license plate cost about 300 yuan.

Question 3: How to calculate the down payment for a car loan? The down payment for a car is 20%-50%. Generally, banks require 40%-50%. Some car dealers can achieve 20% or even more by looking for some financing companies. Low.

Generally, it is paid off in 2-5 years. The monthly repayment depends on how much you borrow. You can use real estate to guarantee it.

First of all, you must know that the beneficiary of the installment payment for buying a car is the bank. Or financial institutions, because many banks now have relatively high thresholds for car loans, and more financial companies, especially those from the same family as the car manufacturer, have begun to handle convenient loan procedures for customers (such as Shanghai General Motors) The financial company has GMAC loans)

Secondly, the requirements for car buyers are: generally those with normal salary income, preferably with provident fund, real estate (with property rights) or married. Of course, if you have other written documents that can prove your ability to repay the loan, that is fine.

Question 4: How do I want to buy a car? How is the down payment ratio calculated? To buy a car, the borrower needs to apply and meet the loan requirements. The down payment for the car needs to be 30, and there must be stability. sources of repayment and other loan conditions.

Question 5: How to calculate the down payment for a car loan? If you apply for a "personal car loan" from China Merchants Bank, the maximum loan amount shall not exceed 80% of the purchased vehicle price (excluding various additional taxes and premiums) ; The maximum loan amount for personal car loans issued to imported cars shall not exceed 70% of the purchased vehicle price (excluding various additional taxes and premiums); and the maximum loan amount shall be 2 million yuan. For your specific loan amount, you need to submit relevant materials for verification and confirmation by the handling bank.

Question 6: How much is the down payment for a car loan? How to calculate the car loan interest rate? The down payment for buying a car with a loan is a very prominent issue. How much is the down payment for a general car loan? Some netizens raised questions about this issue! Answer: First of all, the down payment must be more than 20 RMB. It may be higher depending on the requirements of the unit where you apply for the loan, usually 30 RMB. If your credit and financial strength do not meet the company's standards, you may be required to increase the down payment. Generally speaking, you only need to fill in 30 when applying for a loan. The amount of the down payment is not directly related to the price of the car. The main thing is that the lender needs to control risks. For example, if you make a down payment of 20, then the lender will pay you 80 of the loan. If you fail to repay, it will lose 80; if you make a down payment of 40, its risk will only be 60. In addition, the monthly repayment depends on the interest rate of the unit you are borrowing from. The interest rate is different for each unit, and it also depends on the length of your loan. The longer the period, the higher the interest rate. If you buy a house worth RMB 150,000 and make a down payment of RMB 30, then the loan amount is RMB 105,000. I will calculate it for you based on our company’s interest rate: the loan is for 3 years, which is 36 months, the monthly interest rate is 5.5275 thousandths, and the monthly repayment is 3224.51

Question 7: How is the down payment for a car loan calculated? Hello! Purchase tax etc. need to be paid in full. The down payment of 30 refers to 30 of the bare car price.

If you still have questions, it is recommended that you consult "Customer Service Online" forum.cmbchina/cmu/icslogin.aspx?from=Blogincmu=0, we will serve you wholeheartedly!

Question 8: How to calculate the down payment for a car loan? The down payment for an installment car purchase is 20-50. Depending on the loan method selected by the consumer, the application information provided is not required, and the down payment ratio may also be different. At present, most banks stipulate that the minimum down payment is RMB 40 of the total car price, and the minimum for auto finance can be RMB 20.

There are generally two options for loan terms: 3 years and 5 years, with the longest term not exceeding 5 years. Some also need to pay a deposit of about 10 yuan for the car price and related handling fees. The monthly payment for a customer's loan for three years is about 3,000 yuan, and the total interest expense is about 9,000 yuan, while the monthly payment for five years is only about 1,900 yuan, during which the customer can repay in advance at any time.

Generally, the loan amount is no more than 80% of the car price, and the rest is called the down payment. Some banks or financial institutions require you to pay the down payment before they are willing to lend. The loan period is one, two, three or five years. If the loan is between 80,000 and 100,000, three years is the best choice. If it is five years, the interest expense will be higher.

Those with normal salary income should preferably have provident fund, real estate (with property rights) or be married. Of course, if you have other written documents that can prove your ability to repay the loan, that is fine.

Question 10: How do you calculate the car installment payment for your naked car of 124,600? It’s too dark. Does 4S add navigation and seats for you? (You have to install the navigation outside yourself. Is 4S trying to scare you by saying that if you install it outside, it will not protect the wiring? This is pure deception. The navigation is directly plugged in, so there is no need to touch any wiring. 4S sells the broken navigation for 8,000 even if it costs 1,500. , the so-called leather seats are only around 1,300.) These two are only worth 3,000 at most. The Lingpai manual naked bike is 114,800, which is generally a discount of about 5,000. The price of the naked bike should be 110,000, and you have to pay an additional 10,000. . . . . faint! ! !

Let me give you a discount. A naked car is 114,800, purchase tax is 98.12, compulsory insurance and vehicle and vessel insurance are 1,500, and full insurance in installments is 6,000 (you can buy this anywhere, and it will last for several years. It depends on how you negotiate), the on-the-road price is 132,000 with full insurance.

The down payment in installments is 52,000, and the remaining 80,000 (80,000 in 2-year installments with 8 interests is 6,400, and 80,000 in 3-year installments with 12 interests is 9,600). The 4S store may ask you for a handling fee. Don’t give it, if it really doesn’t work, give it up to 1,500 at most). In fact, the interest in installments is more than the full payment, and there may be a little handling fee, and you must buy full insurance. Full insurance 4S must be purchased from him. 4S will be about 1,000 more expensive. You can compromise on this point. In fact, it doesn’t matter where you buy it. Yes, some 4S have to be purchased in installments over several years. This is purely a scam.

Of course, if you use a credit card, there are no handling fees and you don’t need to buy comprehensive insurance. However, the interest rate on a credit card is very high, and a car loan is a special loan with very low interest rate.

This is the end of the introduction about what is a down payment loan to buy a car and what conditions are required for a down payment. I wonder if you found the information you need?