On July 27, Lu Tian, general manager of BYD Dynasty network sales Division, announced the latest subsidy policy for the purchase of old cars for new ones today. According to the policy, the national car trade-in subsidy can reach up to 20,000 yuan, plus the BYD dynasty to provide up to 8,000 yuan subsidies, a total of up to 28,000 yuan subsidies.
IT House summarized the specific policies as follows:
- While enjoying the comprehensive replacement subsidy, car buyers can also enjoy the “0 down payment” discount, that is, the minimum 0 down payment, 12-60 arbitrary loan term financial services;
- “0 interest” program, i.e., 24 tranches of 0 interest loans starting with 40% down payment;
- The “0 monthly payment” plan, that is, the financial policy of 50% down payment + 50% of the final payment, 0 interest for 1 year and 0 monthly payment.
It should be noted that at present, only Dynasty network models have announced the introduction of the old for new policy, and the similar policy of ocean network and other models has not been disclosed. Models covered by the trade-in policy include Han family, Song LDM-i, Qin LDMi, Qin PLUS series, Yuan UP, Tang Family, Song LEV, Song Pro DM(picture | configuration | inquiry) and Yuan PLUS.
In addition, on July 15, the National Development and Reform Commission and the Ministry of Finance issued the “Several Measures on Strengthening Support for large-scale equipment renewal and the replacement of consumer goods with old ones”, proposing a series of measures such as raising the subsidy standard for automobile scrapping renewal and supporting the replacement of household appliances with old ones. According to these measures, individual consumers who scrap fuel passenger cars with national III and below emission standards or new energy passenger cars registered before April 30, 2018, and purchase new energy passenger cars or fuel passenger cars with 2.0 liters and below emission that are included in the vehicle purchase tax reduction catalogue will enjoy higher subsidy standards.
