Car Finance - China - August 2018
“Chinese consumers’ car financing methods are still conservative, especially consumers in tier two cities. Bank is the main car finance method for consumers. The top three methods that surveyed respondents chose are household savings, car-specific loans from banks and personal savings (48%, 46% and 46% respectively). On the other hand, for those consumers who use car finance, lending rate and monthly repayment have a high importance level when it comes to car finance selection. In addition, the second-hand car market has a great influence on consumers’ choices of car finance.”
- Terence Zhou, Research Analyst
This report will cover the following areas:
- Second-hand car market has strong effect on new car finance
- Education of consumers’ understanding about car finance
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