The People's Bank of China and the State Administration of Financial Supervision jointly issued a notice. The maximum loan disbursement ratio for consumer car purchases can reach up to 100%.
This means that "zero down payment" car buying is expected to become a reality. The adjustment echoes the recent hot demand for "old-for-new" in the automobile market. In addition to adjusting the car loan ratio, another content in the notice has triggered a lot of discussion, that is, "appropriately exempting liquidated damages caused by early settlement of loans during the car trade-in process"