What are the requirements for purchasing a Hongqi H5?
4 Answers
No specific requirements need to be met. You can directly visit your local Hongqi 4S store to purchase one. Below is relevant information about the Hongqi H5: Interior: The interior layout is not yet finalized, possibly featuring an independent floating central control screen, a three-spoke multifunction steering wheel, and an electronic parking brake. Engine Power: Equipped with a 1.8T engine, the rated power is 131kw, with a torque of 250Nm, paired with a 6AT transmission. Handling Quality: The chassis handling quality is excellent, providing confidence in tire grip. Under extreme conditions, it's evident that this suspension system is far from reaching its limits.
The basic requirements for buying a Hongqi H5 are not difficult. You mainly need to prepare these: First, you must have a driver's license, either C1 or C2 will do—you can't drive on the road without one, right? Second is the money issue. If paying in full, you’ll need around 200,000 RMB to cover all costs. For installments, you’ll need a good credit record and stable bank statements, with a down payment starting at about 30%. When I bought a car in Guangzhou, there was also a license plate restriction—I had to get a quota in advance through a lottery or bidding. Also, remember to bring your ID card and residence permit (required for non-local residents), and pay attention to the maintenance terms and financial plans when signing the contract. It’s best to test-drive the car beforehand, as seat comfort and fuel consumption are things you’ll only truly know after experiencing them yourself. Additionally, you’ll need to budget over 10,000 RMB annually for car maintenance, covering insurance, fuel, repairs, and other unavoidable expenses.
Friends who want to take a loan to buy a Hongqi H5, pay attention to this: As someone who frequently helps others with car loans, I believe the most critical factors are credit history and income proof. Your credit report should not show any 'three consecutive or six cumulative' overdue payments in the past two years, and your income must be at least twice the monthly payment. Financial institutions partnered with Hongqi will also check your social security payment records, which should show continuous payments for at least six months. The down payment can be negotiated as low as 20%, but you need to keep an eye on the manufacturer's interest subsidy promotions on the official website. It's advisable to print out six months of bank statements in advance, whether from your salary account or Alipay. Try to negotiate the handling fee down to within 3,000 yuan, and don't be fooled by the 4S store into buying expensive extended warranties. If your credit history has minor flaws, finding a guarantor or increasing the down payment to 40% can help get approval.
I deeply understand the car-buying experience in license-plate-restricted cities. The most troublesome part of purchasing a Hongqi H5 in Shanghai is getting that metal plate. You have to spend over 90,000 yuan to bid for a Shanghai license plate, and if you don't win the lottery within three months, you can only wait anxiously. Additionally, you need to provide local residence proof and continuous social security payment records - non-local residents must have three years of residency to qualify. My colleague failed at this last year when buying a car, as getting a temporary residence permit was too rushed. The vehicle purchase tax is 10% of the invoice price - new energy versions are exempt but the fuel-powered H5 isn't. I recommend asking dealerships about license-inclusive services when selecting a car - they know the process and can save you half a month. For lottery cities, remember to check monthly results, and for bidding cities, be prepared for budget fluctuations.
