With the continuous expansion of the second-hand market, more second-hand goods flood into the market. Many people buy what they like with the help of the second-hand market. Because the second-hand market is cheap and affordable. There are also many people who buy used cars in the second-hand market. This can save you a lot of money. At the same time, the money saved can help you do other things. So how much is the interest on second-hand car loans in China's second-hand market?

First, the second-hand car loan interest

At present, the minimum down payment for a three-year loan for a new car is 30%, and the total interest is 12% to15% of the total loan; For a three-year loan for used cars, the minimum down payment is 50%, and the total interest exceeds 20% of the total loan. The calculation formula of loan interest for used cars is: monthly payment × loan term-loan amount = total interest. At present, some banks have stopped second-hand car loans, while some banks have strict and long-term review. Therefore, professional used car credit companies are the first choice for consumers to lend used cars. Professionals suggest that it is more cost-effective to pay tens of thousands of yuan in full for used cars, while higher-priced used cars can choose the loan term according to consumers' own conditions, and it is generally more appropriate to choose 3 years.

Second, the precautions for buying used cars

1. Unsecured loan for used cars

The age and mileage of a used car will determine whether it can be used as a mortgage. If the used car is too old, it is difficult to apply for a loan. Therefore, the age of mortgaged used cars applying for loans should not exceed 3 years, and the longest should not exceed 6 years;

2. If the car price is too high or too low, it is suitable for second-hand car loans.

Generally speaking, used cars with high car prices and high innovation rate are easy to apply for loans. If the car price is too high, the lending institution will bear huge risks; The car price is too low, which is generally difficult to handle, because lending institutions often do not accept car loan business below 60 thousand yuan. Therefore, only when the appraisal price is between 80,000 and 800,000 can it be easier to apply for second-hand car loans.

3. Find out whether the mortgaged vehicle is a mortgaged used car.

At present, most lending institutions will not accept used cars as mortgage loans. Used cars used for mortgage must be paid in full, and there is no loan at present. The buyer shall negotiate with the dealer about the repayment content of the unpaid mortgage loan of the vehicle temporarily paid by the buyer, and explain it separately in the signed contract. In addition, it is also necessary to pay attention to whether the vehicle has a violation record, whether it is in the state of mortgage and storage, and then transfer the vehicle and put it on record after confirmation.

In a word, we can easily find that the prospects of the second-hand market are very good now. There is also a corresponding formula for the interest of second-hand car loans. The party who wants to buy a car can know whether his interests have been lost through the calculation formula, usually within a range. Then you need your own seriousness. If you want to buy a cost-effective used car, you should be careful and calculate your gains and losses through the above formula.