How long does it usually take for the trade-in subsidy to be issued?
2 Answers
Purchase car trade-in subsidies are usually credited within 15 working days. Below is relevant information about purchase car trade-in subsidies: Trade-in subsidy age classification: The trade-in subsidy applies to used cars over 5 years old, with cash subsidies jointly funded by Beijing municipality and automobile manufacturers (each covering half). Vehicles are divided into 3 categories based on usage period: 5-6 years as one category, 6-8 years as another, and over 8 years as the third category. Documents required for trade-in subsidy: Original and photocopy of vehicle owner's ID card or organization certificate, driving license or vehicle registration certificate of the scrapped old car, new car invoice and registration certificate for replacement vehicles, power of attorney from owner/legal representative if processed by agent, and original/copy of agent's ID card.
I'm a car owner who just traded in my old car for a new one last month, and it took almost three weeks for the subsidy to arrive. The 4S store said the manufacturer's review process takes 7-10 working days, plus their finance department's processing time, so they advised me to wait around 20 days. However, a friend who bought the same brand car in a neighboring city got the subsidy in just 7 days, so maybe different dealers have different efficiency levels. An important reminder is to make sure you take clear photos of the old car's transfer invoice and bank card information when submitting the materials—missing documents will result in being sent back to the end of the queue. I heard that some new energy brands now offer an instant subsidy policy, with funds arriving within 24 hours, but it's only available for specific models.
