Multiple car companies have successively launched 7-year super long low-interest loans. Experts say that lowering the threshold will drive the car market.

Recently, many car companies have successively introduced 7-year long-term low-interest loans. From Tesla, NIO, XPeng to Jidu and other more than twenty car brands, they have all broken the traditional car loan period, extending the loan term from 5 years to 7 years while simultaneously reducing interest rates, significantly lowering the threshold for consumers to purchase cars. According to information from car dealerships, for a model with a guide price of around 200,000 yuan, the monthly payment can be reduced from over 3,000 yuan for a traditional 5-year period to starting at just over 2,000 yuan, significantly reducing repayment pressure. Industry professionals indicate that by extending the loan term and reducing interest rates, car companies have effectively reduced user funding costs and the threshold for purchasing a car, further unleashing potential demand for car purchases, and positively driving the car market.