More than 20 car companies start a 'financial war' in 2026

Tesla and Xiaomi take the lead, while over 20 car companies such as Ideal, Xiaopeng, and BYD are intensively launching seven-year ultra-low interest car purchase plans, with "lowering the monthly payment threshold" as the core focus, accurately targeting consumers' pain points when buying cars, and attempting to seize the opportunity in the fierce market competition.

Unlike previous terminal price reductions and equity giveaways, the core of this car company's efforts is "financial empowerment", with a seven-year super long low interest plan becoming a standard for major brands. Tesla is the first to introduce benefits, with the Model 3 and Model Y series enjoying a 7-year ultra-low interest rate. The down payment starts at 79900 yuan, with an annual fee rate of 0.5% (equivalent to 0.98% annually). The monthly supply for models priced around 250000 yuan can be reduced to within 2000 yuan, helping the first-time buyers. Xiaomi closely follows suit, with its main models such as YU7 launching a 7-year 84 phase plan. The standard version starts with a down payment of 49900 yuan and a monthly payment of about 2600 yuan, catering to the needs of young office workers.

The entry of top car companies has led to a rapid "financial war" sweeping across the entire industry. Ideal launches a 7-year installment plan starting from a down payment of 32500 yuan, with NIO combining BaaS service optimization solutions; BYD, Zhiji, Dongfeng Nissan and others have followed suit, with Dongfeng Nissan launching an 8-year plan with a daily supply as low as 55 yuan. At present, there are over 20 participating car companies, covering new energy and joint venture fuel brands. The seven-year super long loan has become a consensus in industry competition.

It is worth noting that these seven-year super long loans are not bank car loans, but are led by financing leasing companies under car companies, with the core purpose of avoiding regulatory restrictions on traditional car loans with a 5-year term. According to regulatory regulations, the maximum term for car loans should not exceed 5 years, and banks cannot exceed this red line. Financial leasing, on the other hand, uses the "lease to purchase" model to register the ownership of vehicles under the name of the leasing company, and consumers only enjoy the right to use them. Essentially, it is a long-term lease contract, achieving installment payments of seven years or more.

This financing leasing model not only helps car companies avoid regulatory restrictions, but also meets the current purchasing needs of consumers. For those with limited budget and basic needs, a seven-year long cycle can maximize the dilution of repayment pressure. The monthly payment of over 4000 yuan that was originally required can be reduced to 2000-3000 yuan, significantly lowering the threshold for car purchases and allowing more people to meet their car purchase needs in advance. A salesperson from a new energy store stated that after the launch of the super long low interest plan, the number of customers who came to the store for consultation and car viewing has significantly increased. Many consumers who were originally hesitant were moved by the low monthly supply and ultimately made up their minds to buy a car.

However, the seven-year super long loan dominated by financial leasing is not perfect, and its core difference from traditional bank car loans lies in the ownership of vehicles and transparency of fees. In traditional bank car loans, consumers have ownership of the vehicle immediately after receiving it, and only need to mortgage the vehicle to the bank. After paying off the loan, they can dispose of it independently by handling the release of the mortgage; Under the financing leasing model, during the seven-year repayment period, consumers are only "lessees" and need to pay off all rent and fulfill contractual obligations before they can obtain ownership of the vehicle. Any resale or modification of the vehicle midway requires the consent of the leasing company, making the process more complex. In addition, some schemes have hidden costs such as service fees, management fees, etc. If consumers only focus on low monthly payments, they may underestimate the true expenses throughout the entire cycle.