How to Use the Car Loan Calculator
Calculate your monthly car loan payments and total costs with this comprehensive calculator.
Instructions
- Enter the car price in CNY (Chinese Yuan)
- Set your down payment percentage (0-100%)
- Choose loan term in years (1-5 years)
- Enter the annual interest rate percentage
- Select repayment method (Equal principal and interest or Equal principal)
- Click "Calculate" to see results
Repayment Methods
- Equal Principal and Interest: Fixed monthly payment including both principal and interest
- Equal Principal: Fixed principal payment with decreasing interest over time
What You'll See
- Monthly Payment: Amount to pay each month
- Total Interest: Total interest paid over the loan term
- Total Repayment: Total amount paid (principal + interest)
Examples
Example 1: Car price: 150,000 CNY, 20% down payment, 3 years, 4.35% interest
Result: ~3,500 CNY monthly payment, ~6,000 CNY total interest
Example 2: Car price: 200,000 CNY, 30% down payment, 2 years, 3.5% interest
Result: ~6,200 CNY monthly payment, ~4,500 CNY total interest
Tips for Better Rates
- Higher down payment reduces monthly payments and total interest
- Shorter loan terms typically have lower interest rates
- Good credit score can qualify for better rates
- Compare rates from multiple lenders
Important Notes
This calculator provides estimates only. Actual loan terms may vary based on your credit score, lender policies, and market conditions. Always consult with financial institutions for exact rates and terms.