The interest rate of used cars is 7%, that is, the monthly interest rate is 0.7%, which translates into an annual interest rate of 8.4%. At present, if the down payment is 30% or 50% and the loan term is 24 or 36, the annual interest rate of the loan is 6.6%. But the annual interest rate of bank loans is generally around 4% to 6%.

Loans in the used car market are different from new car loans, and there will be some preferential subsidies. Moreover, for a three-year loan for used cars, the minimum down payment is 50%, and the total interest is more than 20% of the total loan. The calculation formula of loan interest for used cars is: monthly payment × loan term-loan amount = total interest. Therefore, consumers should also measure their repayment ability.

Matters needing attention in second-hand car loan

The loan period, the longest loan period for new cars can reach 60, that is, 5 years. The maximum amount of second-hand car loans is 36 periods, that is, 3 years, and very few may reach 5 years. Loan interest rates, loan interest rates for new cars and used cars all fluctuate on the basis of the benchmark interest rate of the People's Bank of China. Only under the same circumstances, the loan interest rate of used cars is higher than that of new cars.

The formalities required for loan to buy a car need to meet the age of 18 and have full capacity for civil conduct. Personal loan application form, valid personal identity certificate, household registration certificate or permanent resident certificate, valid personal income certificate, car purchase intention certificate issued by the car dealership, loan car purchase down payment certificate, mortgage certificate and other documents are required.

2. Li Qiang intends to apply for a personal car loan to buy a used car, and the loan amount shall not exceed the price of the car purchased by the borrower ().

A

3. How to apply for a car loan in Beijing? I want to buy a car instead of walking.

There are two ways to apply for a car loan: personal credit loan (unsecured and unsecured, generally requiring you to have good credit and stable work income) or real estate mortgage loan (using real estate as collateral). Personal credit loans to buy a car can generally be borrowed for 5 years, with a down payment of more than 30%. Generally, a car can be mortgaged for up to 5 years with a down payment of more than 30%.

Loan address:

/jT 1OgR