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On February 5th, reports surfaced indicating that several automakers have recently rolled out "seven-year ultra-long-term, low-interest" vehicle purchase financing options. A subsequent investigation by reporters at multiple directly-operated dealerships of these automakers uncovered that, for a domestically-branded SUV model priced at approximately 200,000 yuan, opting for a zero-down-payment, seven-year loan results in monthly payments around 2,700 yuan and total interest charges of roughly 26,000 yuan—approximately half the interest typically associated with bank loans. Nevertheless, these financing schemes diverge from conventional bank loans in that certain automakers mandate full repayment of the loan in a single lump sum after three years of installment payments.
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