Comments on: Gas prices up in Beijing - rest of the PRC to follow? http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/ Explaining the Chinese Car Industry and Chinese Cars Fri, 09 Jan 2009 09:25:49 +0000 http://wordpress.org/?v=2.2.2 By: jim Corty http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109544 jim Corty Sun, 12 Oct 2008 13:56:35 +0000 http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109544 Ash, Maybe it was lost in the translation (*if you write your blog in chinese?) Anyway, here in the states they call it repossession not seizure. But then again after the US government takes over the banks here maybe it will then be seizure. Funny how some countries are going to a free market system and we're going the other way. By the way are you going to blog on the possible Chrysler-GM merger that's rumored I would expect such a deal would not only impact the US but China a little bit as well. Till next time, my brothers in the great struggle, "Comrade Jim" Ash,
Maybe it was lost in the translation (*if you write your blog in chinese?) Anyway, here in the states they call it repossession not seizure. But then again after the US government takes over the banks here maybe it will then be seizure. Funny how some countries are going to a free market system and we’re going the other way.
By the way are you going to blog on the possible Chrysler-GM merger that’s rumored I would expect such a deal would not only impact the US but China a little bit as well. Till next time, my brothers in the great struggle, “Comrade Jim”

]]> By: Ash http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109130 Ash Wed, 08 Oct 2008 06:18:24 +0000 http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109130 The income check is a joke - you ask your boss to write a letter stating your salary, or a form is offered by the bank, then it gets stamped with the 'official company stamp', then you're free to get your car. . 30% downpayments are if you have assets in the local area that can be seized if you dont pay your car loan, or 40% if you dont have assets. . Gerald is right though, most car payments are done in cash. The income check is a joke - you ask your boss to write a letter stating your salary, or a form is offered by the bank, then it gets stamped with the ‘official company stamp’, then you’re free to get your car.
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30% downpayments are if you have assets in the local area that can be seized if you dont pay your car loan, or 40% if you dont have assets.
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Gerald is right though, most car payments are done in cash.

]]> By: Gerald http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109129 Gerald Wed, 08 Oct 2008 06:03:20 +0000 http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109129 Most car puchases are paid in cash. Financing is usually available, but requires a 30-40% down payment and an income and credit check. Also, interest rates are fairly high (10%+). I don't know of anyone here who has financed their car purchase. That said, one luxury brand was recently offering 0% financing. Leasing is rare, but also not unheard of. Most car puchases are paid in cash. Financing is usually available, but requires a 30-40% down payment and an income and credit check. Also, interest rates are fairly high (10%+). I don’t know of anyone here who has financed their car purchase. That said, one luxury brand was recently offering 0% financing.

Leasing is rare, but also not unheard of.

]]> By: Ash http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109050 Ash Tue, 07 Oct 2008 14:52:07 +0000 http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109050 I was in daqing at the weekend, gasoline was 5.88rmb a litre. . Car financing, Ill do something about that ASAP. I was in daqing at the weekend, gasoline was 5.88rmb a litre.
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Car financing, Ill do something about that ASAP.

]]> By: charlie http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109048 charlie Tue, 07 Oct 2008 14:45:19 +0000 http://www.chinacartimes.com/2008/10/07/gas-prices-up-in-beijing-rest-of-the-prc-to-follow/#comment-109048 that is about 3.50 a gallon, which is about what we pay in the US right now. True parity. I wonder how much it going to cost to maintain those highways in China. Ash, can you talk a bit about car purchases in china are generally financed? that is about 3.50 a gallon, which is about what we pay in the US right now. True parity. I wonder how much it going to cost to maintain those highways in China.

Ash, can you talk a bit about car purchases in china are generally financed?

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