How Long Does It Take for a Car Replacement Subsidy to Be Paid?
1 Answers
Normally, the used car replacement subsidy will be paid within 3 months. The replacement subsidy is targeted at used cars older than 5 years and is provided in the form of a cash subsidy, with the cost shared equally by the city and the automaker. Taking Beijing as an example: 1. Introduction: Beijing authorities convened representatives of automakers to discuss a new policy on replacement subsidies for used cars older than 5 years, aiming to accelerate the phase-out of vehicles meeting National I and National II emission standards while stimulating the auto market. According to the preliminary plan, eligible used cars can receive a maximum subsidy of 7,000 yuan per vehicle. 2. Subsidy Standards: The subsidy is divided into three tiers based on the vehicle's age: vehicles aged 5 to 6 years receive 5,000 yuan, those aged 6 to 8 years receive 6,000 yuan, and those older than 8 years receive a maximum of 7,000 yuan. 50% of the subsidy amount is directly allocated by Beijing, while the remaining portion is covered by the automaker of the new car purchased as a replacement. 3. Subsidy Volume: According to statistics from Beijing's environmental department, there are approximately 2 million eligible used cars within the subsidy scope. Beijing plans to initially subsidize 400,000 vehicles, with the remaining 1.6 million vehicles intended to be covered by automakers.
