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 is limited at the beginning, and the longest loan period for new cars can reach 60 periods, which 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 interest rates of several types of loans for used cars are higher than those for new cars.
How to calculate the installment payment for buying a used car?
The down payment for buying a used car is calculated as follows: 1. Generally, it is based on the bare car price, that is, the final transaction price negotiated between you and the 4S shop, and you can choose the minimum down payment ratio of 30%; 2. Take the bare car price as an example: the down payment you have to pay is 30,000 yuan, plus various taxes, insurance, roads and bridges, etc. 3. A car with a displacement below 1.6 will cost about 1.5 million yuan, and a car with a displacement above 1.6 will cost about 1.8 million yuan, so your money will cost about 48,000 yuan, which is the down payment for a car with a displacement of1.6 million yuan. 4. If there are other collateral, such as real estate, which can be used as a mortgage to buy a car, and you can provide your own income proof and have a good credit record, then the down payment for buying a car with a loan is not as much as 30%, which can be reduced by 10 percentage point, that is, the down payment reaches 20%.
How to calculate the second-hand car mortgage of 51 thousand
Monthly payment can only be calculated in combination with interest rate. Different banks have different interest rates for second-hand car loans. Evaluate the loan interest rate according to your comprehensive qualifications. If it is a car loan from Ping An Bank, you can log in to Ping An Pocket Bank APP- Finance-Loan for details and try to apply.
Used cars are accepted by more and more people and used by more and more people, not only because they are cheap, but also because of their good performance and quality. But the premise is that you must choose a store with good reputation. In fact, before going to the store, we suggest that friends go to United Auto to find the model they want, and then find a store with good reputation to test drive and choose a car.
The calculation formula of interest on used car loans is:
Monthly payment × loan term-loan amount. The bank's loan interest rate fluctuates on the basis of the central bank's benchmark interest rate.
Central bank loan benchmark interest rate:
The annual interest rate of loans within 1 year is 4.35%; /kloc-The annual interest rate of loans from 0 to 5 years is 4.75%; The loan term is more than 5 years and the annual interest rate is 4.9%. Different used car staging platforms offer different interest rates, but they are generally around 15%.
What is the annual interest of 52,000 used car loans?
1, what's the interest rate for buying a used car loan for 52 years?
In fact, there is no specific regulation on this. It still depends on how the loan of the financial institution you choose is stipulated, and it is also related to the loan scheme you choose.
2. Conditions to be met for buying a second-hand car loan.
First, the age should be between 18 and 60 years old, and there should be no bad credit record.
Second, we must have a stable income and ensure repayment within the validity period.
Third, you should provide your local residence certificate and your ID card.
Fourth, if you are married, you should also provide your spouse's ID card and their marriage certificate.
Fifth, meet the requirements of the lending institution you choose.
3. What are the conditions for buying a second-hand car with a second-hand car loan?
First, the price of used cars should be between 800,000 and 800,000 to meet the loan requirements.
Second, the age of used cars should not exceed seven years.
Third, you must pay the down payment of the second-hand car first, and the price is not less than 50% of the evaluation price of the second-hand car.
Fourth, the loan period does not exceed three years, and some financial institutions stipulate five years.
How to calculate the interest on used cars?
The calculation formula of loan interest for used cars is: monthly payment × loan term-loan amount = total interest.
Precautions for second-hand car loans:
1. It is difficult to get a used car loan with too high or too low a price;
Generally speaking, used cars with high price and high innovation rate are easy to apply for loans. 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 handle it, because lending institutions often do not accept car loan business below 60,000 yuan. Therefore, it is easier to apply for a second-hand car loan only if the evaluation price is between 800,000 and 800,000.
2. Understand 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 shall negotiate with the dealer about the repayment content of the outstanding mortgage loan of the vehicle that the buyer has not paid for the time being, and explain it separately in the signed contract. In addition, it is also necessary to pay attention to whether the vehicle has a violation record and whether it is in the state of mortgage custody. After confirmation, the vehicle will be transferred and filed.
Second-hand car loan, that is, second-hand car mortgage loan, refers to the loan issued by commercial banks to individual borrowers to buy second-hand cars for consumption and use the purchased cars as collateral for loans. Second-hand cars have great development potential in China. Many people need second-hand cars very much because of their limited economic ability or just for practicing or transitional use.
Since 2008, China automobile market has entered the fast lane of development. In just five years, China automobile market has changed from a big automobile consumption country to the largest automobile production and sales country in the world. According to the time for changing cars after five years' use, the car market in China will gradually enter the car changing tide in the next few years. The used car market will also change from building consumer confidence to serving consumers. A second-hand car trading market in Zhongshan, together with six banks, officially launched the installment payment business for second-hand car consumption to the public. This means that citizens can buy used cars through car loans. The second-hand car loan business finally broke the ice.
Materials:
The materials required to apply for a loan include: car buyer's ID card, household registration book, housing certificate, income certificate (monthly income must be twice the monthly repayment amount), two one-inch recent photos, car buyer's marriage certificate and spouse certificate (if married).
This concludes the introduction of installment calculation of used car loans and installment calculation methods of used cars. I wonder if you found the information you need from it?