China's NFRA plans to lower down payments for car loans to improve credit oversight and support auto sales.
China's National Financial Regulatory Administration (NFRA) will soon announce a policy to lower down payments for passenger vehicle loans, aiming to improve car credit oversight and reduce costs for car purchases. This move is expected to support auto sales in the country. Current rules set minimum downpayments of 15% for NEVs, 20% for internal combustion vehicles, and 30% for used cars.
March 25, 2024
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