How much is the interest rate for a second-hand car loan of 36,000 yuan?

1. How to calculate the interest rate of a second-hand car

Hello, the average second-hand car dealer loan has an interest rate of about 7%. That is, a monthly interest rate of 0.7%, converted into an annual interest rate, is 8.4%. 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%.

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.

2. How to calculate the interest for buying a second-hand car by installment?

Generally, the annual interest rate is about 30% (this is the interest rate after accounting for handling fees). Don’t believe in 0 interest rates and low interest rates. Those all require handling fees, and the handling fees are higher than the interest rates

3. How to calculate the interest rate for buying a second-hand car?

The calculation of second-hand car loan interest is related to the repayment method. Here we take equal principal and interest and equal principal repayment as an example. A second-hand car loan of 100,000 yuan, the loan term is 2 years, the loan interest rate is 8%, the monthly repayment amount is 4522.73 yuan, and the total interest is 8545.5 yuan. For equal principal repayments, the first month's monthly payment is 4833.33 yuan, and the total interest is 8333.33 yuan.

If it is interest-free during the active period, then the monthly repayment is 100,000/24=4166.67 yuan.

4. Is there interest on second-hand car loans?

No interest,