BYD Follows 7-Year Low-Interest Policy with Up to $3057 Subsidy Stack

According to incomplete statistics, more than 20 automakers have currently followed up with 7-year low-interest financial policies.

On February 25, BYD’s Ocean Network officially announced that all models will launch financial policies including 3-year ultra-long interest-free and 7-year ultra-long low-interest options.

According to the policy, consumers can spread the vehicle purchase cost over 84 installments, significantly reducing monthly repayment pressure. For entry-level models, the daily payment can be as low as 29 RMB.

Just one day earlier, BYD’s sub-brand Fangchengbao also released a 7-year ultra-long loan policy, applicable to the Leopard 5 Long Range Edition and the entire Titanium 7 lineup.

This campaign can also be combined with a trade-in subsidy of up to 21,000 RMB, lasting until March 31. As for whether Dynasty Network models will follow this financial policy, BYD has not yet responded.

One day before BYD’s official announcement, IM Motors also launched a competitive policy.

IM officially announced that the IM LS6 can enjoy a 7-year ultra-long loan financial policy, while also benefiting from 0 down payment and 3-year interest-free financing.

Taking the IM LS6 as an example, with 0 down payment, the monthly payment is only about 2,320 RMB. If users choose to repay early after 3 years, they can enjoy interest-free treatment. At the same time, IM is also offering a New Year cash red envelope of up to 23,000 RMB, which can be combined with brand and government trade-in subsidies of up to 20,000 RMB.

According to public data, incomplete statistics show that since Tesla first launched the “7-year low-interest” policy in January, more than 20 automakers including Xiaomi, NIO, Geely, Li Auto, XPeng, GAC Aion, Changan Deepal, Chery, Jetour, Dongfeng eπ, Haval, and Dongfeng Nissan have followed suit.

It is worth noting that some automakers have adopted even more aggressive strategies—Dongfeng Nissan directly extended the loan period to eight years. With 0 down payment, the daily payment ranges from 27 RMB to 81 RMB depending on the model.

With the addition of BYD, the leading new energy vehicle manufacturer, this “financial war” will reach new heights, and it is expected that more mainstream automakers will follow suit.