There is a contract amount. The formal process must be followed.

The second-hand car loan process is as follows:

① Car buyers go to bank branches for consultation, and the branches recommend to users special dealers that have signed a "Second-hand Car Consumer Loan Cooperation Agreement" with the bank business.

② Go to the dealer to select the second-hand car you want to buy, sign a car purchase agreement with the dealer, and specify the model, quantity, color, etc.

③ Go to a bank outlet to apply for a loan. The necessary materials for applying for a loan at a bank outlet include: personal loan application, valid ID, proof of occupation and income, basic family situation, car purchase agreement, and guarantee requirements supporting documents and other conditions specified by the lender.

④The bank will review the user's credit standing. The bank will notify the car purchase borrower within fifteen working days after the loan application is accepted, and sign a "Second-hand Car Consumption Loan Contract" with the borrower who meets the loan conditions. The maximum amount of a second-hand car consumer loan shall not exceed 60% to 80% of the purchase price (varies among loan banks), and the loan period shall not exceed three to five years (varies among loan banks. Taking Beijing as an example, second-hand Car loans require a down payment of 50% and the loan term is up to three years).

⑤ Sign a loan and guarantee contract. If the applicant meets the loan conditions, the bank will sign a loan contract and related guarantee contracts with the applicant.

: What should you pay attention to when applying for a second-hand car loan?

1. Loan interest rate: The total interest rate for 1-3 years is about 12% to 15% of the total loan amount. For loans with a term of more than 3 years, the total interest rate is more than 20% of the total loan amount. In other words, if the loan is 100,000 yuan and the loan is for 3 years, the total interest will be about 12,000 yuan to 15,000 yuan.

2. Prevent bundled sales: Some institutions require that when taking out a loan, you must purchase commercial insurance from the institution, and the purchase period must be no less than the loan period. In fact, this is bundled sales and rogue behavior. You should ask more questions before taking out a loan, so as not to tell you about this requirement later. Then it will be too late to regret it and you will have no choice but to let others take advantage of you.

3. Car age limit: Many institutions require a second-hand car loan period of no more than 3-5 years, and the loan amount cannot exceed 60%-80% of the current car price. There will be some differences between different financial institutions, but the basic differences are not big. You can choose the loan amount and term based on your down payment and repayment ability.