The calculation formula of loan interest for used cars is: monthly loan term-loan amount = total interest.
1. Old used cars cannot be mortgaged.
Factors such as the age and mileage of used cars will determine whether used cars can be used as collateral. If the used car is too old, it is difficult to apply for a loan. Therefore, the age of the second-hand mortgage car applying for a loan can not exceed 3 years, and the longest can not exceed 6 years;
2. It is difficult to get loans for used cars with too high or too low prices.
Generally speaking, it is easy to apply for loans for used cars with higher prices and newer costs. If the car price is too high, the lending institution will bear great risks; The car price is too low, and it is generally difficult to be handled, because lending institutions often do not accept car loan business below 60,000 yuan. Therefore, only second-hand car loans with an estimated price of 800,000-800,000 are easier to handle.
3. Find out whether the mortgaged vehicle is a mortgaged used car.
At present, most lending institutions will not accept second-hand cars as mortgage loans. Used cars used for mortgage must be paid in full, and there is no loan at present. The buyer and the dealer shall negotiate the repayment content of the outstanding mortgage loan of the vehicle, which shall be paid by the buyer temporarily, and shall be stipulated 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 mortgaged or sealed up, and then transfer the ownership and put on record after confirmation.
Through the introduction of the above small series, I believe everyone can borrow money to buy a used car, right? What is the interest rate? With a certain understanding, everyone can make corresponding preparations for the above matters, so as to handle loans more smoothly. I hope Bian Xiao's introduction can provide some help to those in need.