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CN Automakers Intensively Launch 7-Yr Car Loans; CN Banks Reportedly Cautious on Collateral Depreciation Risk
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Since the beginning of this year, car companies such as Tesla (TSLA.US), Xiaomi Auto and LI AUTO-W (02015.HK) have intensively launched seven-year car loans, aiming to lower the threshold for car purchases with low interest rates and low monthly payments, sparking a financial promotion boom in the auto market, according to China Securities Journal. However, the report added that banks are cautious in entering the market due to the risks of collateral depreciation and default. Experts advised consumers to carefully calculate total expenditures, understand the nature of contracts, and guard against the risks of ultra-long-term loans. AASTOCKS Financial News Website: www.aastocks.com |
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