Hi!

Can someone give me more information , about the profit from a loan car by the bank?

My gf told me that our scb loan charge 6 procent for our used car , in total for 3 years, and for a new one it is only the half 3 procent of the total amount!

Is this the normal way the bank do?

Interest rates for used cars are indeed higher than for new cars, plus the repayments are subject to 7% VAT, which is not the case for new.

As for whether banks make more profit from them though, that's unlikely - a combination of higher risk (lower down payments/ higher default rates) and lower delinquent recovery values probably evens it out.

If the bank charges double interest for a second hand car, that can mean 2 things:

1) they can ask that rate because there is no/less competition, or, more probable;

2) they have to because the risk is higher.

If I beginn to calculate I pay 27000 bath to the bank on prosit within in 3 years!

This mean it's 20 procent profit

not 6 Procenr , something still wrong and i dont know why Pay so much more!

Interest rates are per year.

Interest rates are per year.

I envy you - you are very patient.....