Generally speaking, used cars with a down payment of 0 still need to be paid. In the process of handling, the dealer may ask the customer to pay a certain deposit or other fees. The business personnel of a car loan company once said that applying for a second-hand car loan needs to bear the front-end charges and interest. The front-end charges generally include loan procedures, GPS fees, assessment mortgage, renewal deposit and so on.
However, these front-end charges are unreasonable, such as GPS fees, which are generally around 2,000 yuan, while the GPS positioning devices installed outside are only a few hundred pieces, and there is a renewal deposit, which is an illegal charge. In order to let customers continue to buy insurance in our store, dealers require to pay renewal deposit, and the insurance premium is more expensive than that of outside insurance companies.
In this way, 4S stores can make more profits. However, there are relevant regulations in the country, which explicitly prohibit the collection of renewal deposit from 20 17.
The cost of zero down payment for used cars can only be calculated by combining the loan amount, loan term, interest and other expenses. However, many people find that there are many suspicious problems after buying a used car with a loan, and the total cost will be inexplicably high in the end. In the process of communication, the business personnel didn't make it clear to the customer, and the customer didn't find anything fishy until he signed the contract.
So when buying a used car with a loan, you must ask every detail and read the contract carefully.