Many people purchase second-hand cars through second-hand intermediaries or car finance companies to obtain loans. Of course, many banks now also provide credit card installment services for second-hand cars. So how can you get the best deal on a second-hand car loan? What are the procedures for a second-hand car loan? How much should be the down payment for a used car loan? Introduction to used car loan related information.

Generally speaking, the minimum down payment for a second-hand car loan through a car finance company is 50%, while some banks' minimum down payment can be as low as 30%. Bank loan thresholds are high and approval times are long. When applying for a second-hand car mortgage loan, the interest rate of a financial company is much higher than that of a bank; buying a car with a credit card in installments is an unsecured credit loan, and applicants can apply as long as they have sufficient information to prove their ability to repay.

The cooperation between Bank of China and Shenzhen Okanda Luxury Car Plaza only requires any one of Shenzhen real estate/Shenzhen household registration/Shenzhen social security payment records for more than one year or a qualified guarantor to apply for installment payment. There is no clear requirement for vehicle age, and the maximum loan amount can be up to 1 million yuan.

Whether it is a new car or a second-hand car, the dual attributes of a car as a luxury product and a consumable product will lead to dual pressures of repayment and maintenance. Therefore, when buying a car in installments, you must follow the principles of installment payment, prudent lending, and plan your own funds well.

One million car purchase subsidies