What does cash car mean?
1 Answers
Cash car means paying the full amount in one lump sum when purchasing a vehicle, without using installment plans or other payment methods. The specific details about vehicle purchase installment payments are as follows: 1. Installment periods: The number of installments for car loans depends on the vehicle type. For new cars, the maximum installment period is 60 months, while for used cars, it is 36 months. 2. Installment payment methods: Bank consumer loans, auto manufacturer financial company loans, and financial leasing. 3. Used car loan policies: Generally, the down payment starts from 20% of the vehicle's selling price, and the loan term does not exceed three years.