What Does Vehicle Replacement Subsidy Mean?

[Ezekiel]

Here is the information about vehicle replacement subsidy: 1. Definition: Vehicle replacement subsidy refers to the cash compensation provided to car owners who trade in their used cars when purchasing a new vehicle. 2. Brief Introduction (1) The vehicle replacement subsidy is targeted at used cars older than 5 years, with the subsidy cost shared equally between the Beijing municipal government and the automobile manufacturer. 3. Required Documents for Subsidy (1) Owner's ID card (original and copy) or organization certificate for entities (original and copy). (2) Driving license (copy) or vehicle registration certificate (copy) of the scrapped old vehicle. (3) For purchasing a new vehicle, the invoice and vehicle registration certificate of the new car must be provided. (4) If applying through an authorized agent, a power of attorney from the owner or legal entity and the agent's ID card (original and copy) must be provided.