Buying a car
English added by me :)
I don’t know Chinese economics around buying a car, is 90,000 yeun (about 12.5k USD) a down payment or a full purchase?
Well I don’t know if that’s a fancy model or something cheap, but there are absolutely totally okay budget models at that price point. Considering the “EV price war” there are now okay small cars under 80000 yuan.
Also, down payment? How much do cars cost where you are that that’s not more than half the price of a new one?
My car was 3 years old and used when I got it for 15,000 USD, even decade older cars these days still cost a few thousand usually.
Idk about you but that’s not a small amount of money, so car loans are a thing and often require down payments. For my car I had a down payment of 3,000 and a five year loan to pay off the rest. For a new car in America most cost between 25,000-50,000 USD so a bigger down payment helps reduce the interest on the loan.
I don’t know how you’d buy even a used car without a loan, I don’t have a lot of money in my bank account to straight up buy a new car, so if I can put down a larger down payment I can pay less in the long run because of interest rates. If a new or used car costs more than 20,000 a down payment of ~12,500 covers around half and is something some people could do upfront to save money long term. So asking if this was the full price or a down payment seems very reasonable to me based on living in America and making ~25,000/yr knowing people who are in a higher wage bracket could put down a larger down payment to save money in the long run. Plus sometimes you can’t even get a loan without a large down payment
How much money do you make where this isn’t a concept you have to deal with? Or have you just never had to make a large purchase that will put you into debt for years?
10K euros ($11K) is the average yearly wage where I’m from, though my household earns somewhat more than that, and here we generally save money for anything that’s not a house instead of getting loans. I don’t know anyone who actually uses a credit card, for example, just debit ones.