How much is the interest on a second-hand car loan of RMB 200,000 for 3 years?

How to calculate the interest rate for a second-hand car loan
The formula for calculating the interest rate for a second-hand car loan is: monthly payment × loan term - loan amount = total interest.
Notes on second-hand car loans:
1. It is difficult to get a second-hand car loan if the car price is too high or too low:
Generally speaking, it is easier to get a second-hand car loan if the car price is higher or the percentage is newer. Apply for a loan. If the car price is too high, the lending institution will bear great risks; if the car price is too low, it is generally difficult to apply for it, because lending institutions often will not accept car loans below 60,000 yuan. Therefore, only second-hand car loans with an estimated value between 80,000 and 800,000 are relatively easy to apply for.
2. Find out whether the mortgaged vehicle is a used car for mortgage:
Currently, most lending institutions will not accept used cars that are being mortgaged as mortgage loans. The second-hand car used as a mortgage must be paid in full and there is no current loan. The buyer should negotiate with the dealer about the repayment content of the vehicle's outstanding mortgage that will be temporarily paid by the buyer, and state it separately in the signed contract. In addition, it is also necessary to pay attention to whether the vehicle has any violation records, whether it is in a mortgaged or sealed state, and then transfer the ownership and file of the vehicle after confirming that it is correct.
[Extended information]
Second-hand car loans, also known as second-hand car mortgage loans, are issued by commercial banks to individual borrowers to purchase second-hand consumer cars for their own use and use the purchased vehicles as collateral for the loan. A loan that is secured by a mortgage. The development potential of second-hand cars in my country is very great. Many people are in great need of second-hand cars due to limited financial capacity, or only for driving practice or transitional use.
Since 2008, China's auto market has begun to enter the fast lane of development. In just five years, China's auto market has transformed from a major auto consumer to the world's number one in auto production and sales. According to the time period when a car will be replaced after five years of use, the Chinese auto market will gradually enter a car replacement period in the next few years. The used car market will also shift from building consumer confidence to serving consumers. A second-hand car trading market in Zhongshan has teamed up with six banks to officially launch an installment payment service for second-hand car consumption to the public. This move means that citizens can purchase second-hand cars through car loans. The second-hand car loan business has finally broken through.
Materials:
The materials needed to apply for a loan include: the car buyer’s personal ID card, household register, housing certificate, income certificate (monthly income must be twice the monthly repayment), and two recent one-inch photos. , if the car buyer is married, a marriage certificate and spouse's certificate are also required.
What is the interest rate for a second-hand car loan?
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What is the general interest rate for second-hand car loans?
The interest rate for second-hand cars is 7%, which is a monthly interest rate of 0.7%. When converted into an annual interest rate, it is 8.4%. Currently, for Uxin second-hand car loans, if the down payment is 30% Or 50%, and the loan term is 24 or 36 periods, then the annual interest rate of the loan is 6.6%. However, the annual interest rate of bank loans is generally around 4% to 6%.
Loans in the second-hand car market are different from new car loans in that there are some pre ferential subsidies. Moreover, for a three-year second-hand car loan, the minimum down payment is 50%, and the total interest is more than 20% of the total loan amount. The formula for calculating second-hand car loan interest is: monthly payment × loan term – loan amount = total interest. Therefore, consumers must also weigh their repayment ability.
Things to note about second-hand car loans
Loan term, the term of a new car loan can be up to 60 terms, which is 5 years. The maximum second-hand car loan limit is 36 terms, which is 3 years, and very few may reach 5 years. Loan interest rates, for new cars and used cars, are all floating based on the benchmark interest rate of the People's Bank of China. It's just that under the same circumstances, the loan interest rate for used cars is higher by a percentage point than that for new cars.
To apply for a loan to buy a car, you need to be over 18 years old and have full capacity for civil conduct. It is necessary to fill in a personal loan application form, valid personal identity document, household registration certificate or permanent resident certificate, valid personal income certificate, car purchase intention certificate issued by the car dealer, loan car purchase certificate, mortgage certificate and other documents.

The interest on a second-hand car loan is calculated as follows:
1. At pre sent, the minimum down payment for a three-year new car loan is 30% , the total interest is 12% to 15% of the total loan amount.
2. For a three-year second-hand car loan, the minimum down payment is 50%, and the total interest is more than 20% of the total loan amount.
3. The calculation formula for second-hand car loan interest is: monthly payment × loan term – loan amount = total interest.

1. What is the general interest rate for a second-hand car loan?

The interest rate for a second-hand car is 7%, which is 0.7% monthly credit The down payment interest rate, converted into an annual interest rate, is 8.4%. Currently, for Uxin used car loans, if the down payment is 30% or 50%, the annual interest rate of the loan is 6.6%. However, the annual interest rate of bank loans is generally around 4% to 6%.

Similar to new car loans, there are also some pre ferential subsidies, with a minimum payment of 50%, and the total interest is more than 20% of the total loan amount. Monthly payment × loan term – loan amount = total interest. Therefore, consumers must also weigh their repayment ability.

Precautions for used car loans

Loan period, new used car loan period The maximum term is 60 terms, which is 5 years. The second-hand car loan amount is 3 years, and in rare cases it may be 5 years. The loan interest rates for new and used cars are all based on the benchmark interest rate of the People's Bank of China. The loan interest rate for used cars is a few percentage points higher than that for new cars.

To buy a car with a loan, you need to be at least 1 year old and have full capacity for civil conduct. You need to fill in a personal loan application form, a valid personal identity document, household registration certificate or permanent resident certificate, a valid personal income certificate, a car purchase intention certificate, and a loan purchase

2. What is the general interest rate for second-hand car loans

The interest rates for second-hand car loans are 15%, 20%, and 30% of the total purchase price of the car. This is based on the provisions of the "Automobile Loan Management Measures" as follows: 1. The amount of the loan issued by the lender for self-use shall not exceed 80% of the price of the car purchased by the borrower; 2. The amount of the loan issued for second-hand cars shall not exceed the amount of the car purchased by the borrower. 70% of the price; 3. The minimum down payment for new and second-hand cars is 20% and 30% of the purchased price respectively; 4. This means that the minimum down payment for new energy vehicles, new cars and second-hand cars must be at least 20% of the total price of the purchased car. 15%, 20%, 30%.

3. What is the highest interest rate on a used car?

Before going to the second-hand car market for a loan, some consumers would like to know how much the interest rate of a second-hand car is generally. In fact, the loan interest rate in the second-hand car market is generally around 6% to 8%. Some used car loan platforms may even offer higher interest rates. Therefore, the 8% interest rate for buying a second-hand car is considered high within the range.

The interest rate of 8% on second-hand cars, which is a monthly interest rate of 0.8%, converts to an annual interest rate of 9.6%. Currently, for Uxin used car loans, if the down payment is 30% or 50%, then the annual interest rate of the loan is 6.6%, and the loan term is 24 or 36 terms. However, the annual interest rate of bank loans is generally around 4% to 6%.

However, the second-hand car market also provides different interest rates in different regions or stores. In the second-hand car market, the lowest rate is 5.5%, and in some areas it is 7% or 8%. This is also a common situation, so if consumers want to get a loan to buy a car in the second-hand car market, it is best to shop around before making a choice.

In addition, loans in the second-hand car market are generally provided by smaller, less formal loan companies. The interest rates charged by these companies will be higher than those of banks, which means they want to earn money from customers. It is profitable, and there will also be a lot of handling fees or GPS installation fees to pay. Therefore, consumers also have to choose a qualified second-hand car platform to buy.

4. What is the interest rate of Beijing Hengshang Yutong car loan

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