Faced with a variety of lending institutions, where is the current second-hand car loan going? It is understood that many factors such as down payment ratio, installment times, loan amount, loan interest rate, guarantee method, early repayment and so on need to be comprehensively considered.

In terms of down payment ratio, most lending institutions control it between 30% and 40%. However, in order to seize market share, many banks have introduced "zero down payment" concessions, such as Shanghai Pudong Development Bank and Jiangsu Bank.

It is understood that the "zero down payment" product of Jiangsu Bank is a credit loan with an annual interest rate of 6% and a maximum amount of 300,000 yuan; Shanghai Pudong Development Bank's "zero down payment" products have additional conditions. Borrowers must have real estate in Beijing to apply, but they don't need to use real estate as collateral. This product is also a credit loan, with a slightly lower annual interest rate of 5% and a maximum amount of 300,000.

Now, for second-hand car loans, according to the number of loan periods, all lending institutions are "in step" and have launched products for one year, two years and three years. It is worth noting that the annual interest rate of most P2P online lending institutions changes with the number of periods, while banks use fixed interest rates. Judging from the amount of loans, there are 300 thousand and 500 thousand. Take the P2P online lending institution "Huiren Loan" products connected with the online trading platform of "Renren Car" as an example. When the borrower provides collateral, the annual interest rate of one-year loan is 7.74%, the annual interest rate of two-year loan is 7.6 1%, and the annual interest rate of three-year loan is 7.68%. If the borrower applies for a credit loan, the annual interest rate of the one-year loan is 8.87%, and the annual interest rate of the two-year loan is 8.75%. Do not provide three-year loans.

According to the loan interest rate that borrowers are most concerned about, the survey in Bian Xiao found that the annual interest rate is usually between 5% and 7% due to the relatively high credit threshold of banks and the low price of their funds. Although P2P online lending institutions are more flexible, due to the relaxation of risk access, their capital prices are also higher, and the common annual interest rate is 8% to 10%.

Million car purchase subsidy