What is the Car Trade-in Policy?
2 Answers
Car trade-in refers to the early scrapping of old vehicles and "yellow-label cars" in exchange for purchasing new ones. "Yellow-label cars" are gasoline vehicles that do not meet the National I emission standards and diesel vehicles that do not meet the National III emission standards, excluding three-wheeled vehicles and low-speed trucks. Eligible vehicles can enjoy trade-in subsidies. More details are as follows: 1. Subsidy amount: Policies vary slightly by region and time, with subsidies ranging from 3,000 RMB to 20,000 RMB. The subsidy application and collection can be handled by the new car dealership on behalf of the buyer or processed independently. 2. Specific procedures and required materials are as follows: After the vehicle is scrapped, the owner must apply for the subsidy at the local city or county car trade-in joint service window and provide the following materials: (1) "Car Trade-in Subsidy Application Form" (available at the joint service window or downloadable from the Ministry of Commerce website); (2) Original "Scrapped Vehicle Recycling Certificate"; (3) Original and copy of the "Motor Vehicle Deregistration Certificate"; (4) Original and copy of the new car purchase invoice; (5) Original and copy of the motor vehicle registration certificate; (6) Original and copy of the vehicle purchase tax payment certificate; (7) Original and copy of valid identity proof; (8) A personal bank account passbook under the owner's name or a copy of the company's basic account opening certificate.
I think the car trade-in program is quite practical, and I've tried it myself. Simply put, you drive your old car to a 4S shop or authorized dealer for evaluation. They appraise it based on factors like its age, mileage, and wear and tear, then directly deduct that amount from the price of a new car. For example, my old car was ten years old and was appraised at 8,000 yuan, so I paid that much less for the new car, saving me the hassle of selling it. Sometimes the government even offers environmental subsidies to encourage the retirement of old, high-emission vehicles. The whole process just requires bringing all the necessary documents, signing an agreement after the appraisal, and you can drive the new car home—quick and convenient. I think it's a great option, especially for people who don't have time to deal with selling a car. It helps you save money and protect the environment—a win-win situation.
