How to Calculate Car Installment Handling Fees?
1 Answers
Calculation method for installment handling fees: Handling fee per installment = Principal amount per installment * Installment handling fee rate. Total installment handling fee = Total principal amount * Installment handling fee rate. Installment handling fees refer to the relevant charges that users need to pay to the bank when opting for installment payments. The specific amount depends on the fee standards, i.e., the installment fee rate, which varies among different lending institutions. Additionally, the charging methods differ—some institutions charge the fee as a lump sum upfront, while others distribute it evenly across each installment period. Requirements for applying for car installment loans: The loan applicant must be at least 18 years old and have full civil capacity. Must be able to pay the down payment for the car purchase and obtain the car purchase contract. Must have a good credit record with no history of overdue car loan payments. Must have a stable source of income to ensure timely repayments. Must possess valid identity documents. Some regions may also require collateral, property certificates, etc. Must comply with other local policy requirements.