On April 10, according to domestic media reports, a number of car companies followed up on the "New Car Loan Deal" and successively launched financial car purchase plans such as zero down payment and low down payment.
A number of well-known automakers, including FAW Toyota, Tesla, Dongfeng Honda and GAC Toyota, have responded to the recently announced "New Car Loan Deal" by offering competitive financial options such as zero down payment and low-interest loans.
Specifically, FAW Toyota's financial solutions are eye-catching, offering up to 8 years of zero down payment, 36 interest-free loans, and flexible payment options, thereby significantly lowering the financial barrier to purchase a new car.
SAIC MG's sales also indicate a change in market trends. According to the sales of one of the brand's 4S stores, consumers only need to pay a symbolic amount of 888 yuan as a down payment to buy the popular model MG5, while the monthly payment is only 1,000 yuan, which is far lower than the traditional down payment ratio of 20%-30%.
This change stems from the notice jointly issued by the People's Bank of China and the State Administration of Financial Supervision on April 3, "Notice on Adjusting Relevant Policies for Auto Loans".
According to the notice, the maximum loan disbursement ratio for self-use of traditional power vehicles and new energy vehicles is now set by financial institutions themselves and can be as high as 100%, which undoubtedly brings new opportunities to the auto finance field.
According to the analysis of related industries, the lower down payment threshold for car purchase loans is expected to stimulate the growth of consumption in the automobile market.