2026.02. 02 本文字数：3255，阅读时长大约5分钟 作者 | 第一财经 武子晔 记者了解到，按现行的《汽车贷款管理办法》，个人汽车贷款的贷款期限（含展期）不得超过5年。但2025年3月，国家金融监督管理总局发布通知， 明确允许商业银行用于个人消费的贷款期限，可阶段性由不超过5年延长至不超过7年。特斯拉及蔚来此次推出的七年低息贷款被看作是这一政策的落 地。 2026年开年，特斯拉将低息贷款周期延长至7年，率先打响开年金融促销的第一枪。随后，小鹏、理想、小米、吉利等多家车企推出了超长期低息金融 购车方案。 近日，第一财经记者走访市场时发现，多家车企虽然推出超长期低息方案，但主要为补充性金融产品，且不同的车型政策有所不同。此外，多名主机厂 销售人员在向消费者推销汽车时仍以此前推出的1～5年金融政策为主，而超长期低息贷款方案推出是为扩大消费群体进行的促销策略。 "7年低息"花式促销 从车企推出的七年低息金融方案来看，其首付款和月供金额较低，其中月供普遍在2000元上下。以率先推出此类金融方案的特斯拉为例，其售价23.55 万元的Model3后轮驱动版，若选择7年期的"限时低息贷款方案A"，首付最低7.99 ...

Core Viewpoint - Tesla has initiated a 7-year low-interest loan promotion, leading other automakers like Xpeng, Li Auto, Xiaomi, and Geely to follow suit with similar financing options aimed at boosting consumer purchases in a competitive market [1][5]. Group 1: Financing Options - Tesla's Model 3 offers a 7-year loan with a minimum down payment of 79,900 yuan and a monthly payment of approximately 1,918 yuan, with an annual interest rate of 0.5% [2]. - NIO provides a similar 7-year financing plan with a down payment as low as 20% and an annual interest rate starting at 0.49%, significantly lowering the purchase threshold [2][3]. - Li Auto's financing options vary by model, with 6-7 year plans starting at a 15% down payment and annual interest rates ranging from 1.69% to 2.50% [3]. Group 2: Market Dynamics - The introduction of 7-year low-interest loans is seen as a strategy to increase vehicle sales amid fierce competition in the automotive market [5]. - The average monthly payment for a 7-year loan can be reduced to around 2,000 yuan, compared to approximately 5,000 yuan for a 5-year loan, easing the financial burden on consumers [5]. Group 3: Regulatory Context - Current regulations limit personal auto loans to a maximum of 5 years, but a recent policy change allows for a phased extension to 7 years, enabling companies like Tesla and NIO to offer these financing options [4]. - The shift to 7-year loans is facilitated by the conversion of auto loans into consumer loans by some financial institutions, reflecting a change in risk management practices [4]. Group 4: Financing Providers - Many of the 7-year low-interest products are provided by automotive financing leasing companies or third-party financial institutions rather than traditional banks [7]. - Li Auto's financing products are offered through various leasing companies, indicating a trend towards alternative financing models in the automotive sector [7]. Group 5: Consumer Considerations - Consumers are advised to carefully evaluate third-party leasing products, distinguishing between direct leasing and buy-back options, and to consider the total cost of ownership, including any additional fees and penalties for early repayment [9]. - The financing leasing model presents challenges, such as potential losses for leasing companies due to customer defaults and the difficulty in recovering costs from returned vehicles [10].

Core Viewpoint - The automotive finance market is currently dominated by conventional car loans with terms of 1 to 5 years, while 7-year low-interest products are not mainstream and serve primarily as promotional tools to attract consumers [1][9]. Group 1: 7-Year Low-Interest Loan Products - Tesla has extended its low-interest loan period to 7 years, initiating a trend that other manufacturers like Xiaopeng, Li Auto, and Geely have followed with similar offerings [1][2]. - The 7-year low-interest loans typically feature lower down payments and monthly payments, with Tesla's Model 3 offering a minimum down payment of 79,900 yuan and a monthly payment of approximately 1,918 yuan [2]. - NIO offers a 7-year loan with a down payment as low as 20% and an annual interest rate of 0.49%, significantly lowering the entry barrier for consumers [2][3]. Group 2: Financial Institutions and Risk Management - Many of the 7-year low-interest products are provided by automotive financing leasing companies or third-party financial institutions rather than traditional banks, which typically do not offer loans longer than 5 years due to risk management policies [4][7]. - The current regulatory framework allows for personal auto loans to be extended to 7 years, a change that has enabled companies like Tesla and NIO to introduce these products [4]. - The financing leasing model often involves lower upfront costs but may include conditions such as penalties for early repayment, which vary by institution [8][9]. Group 3: Market Dynamics and Consumer Impact - The introduction of 7-year low-interest loans is primarily aimed at boosting vehicle sales amid intense market competition, with varying levels of interest subsidies across different manufacturers [5][10]. - Extending the repayment period from 5 to 7 years can significantly reduce monthly payments, making it easier for consumers to afford vehicles [5]. - Consumers are advised to carefully evaluate the total cost of ownership, including potential additional fees and the implications of different ownership structures (direct lease vs. return lease) when considering these financing options [9][10].

而究其金融创新本质，车企集体加码长期低息政策，是对当前市场低迷态势的主动应对。乘联分会秘书 长崔东树日前表示，新能源车辆购置税免税政策年末到期本应催生抢购潮，但全国多数省市以旧换新补 贴资金池告罄，形成政策优惠的对冲效应；加之多地置换更新补贴政策密集调整，进一步强化了消费者 的观望情绪，使得2025年12月车市未能呈现传统"翘尾效应"。 乘联分会数据显示，2025年12月全国乘用车零售226.1万辆，同比下降14.0%。而2026年开年市场依旧疲 软，1月1至18日零售量仅67.9万辆，同比降幅扩大至28%，较上月同期下降37%。其中新能源车市场同 样承压，同期零售31.2万辆，同比下降16%，较上月同期大幅下滑52%。 不过，这一促销模式背后也暗藏多重行业隐忧。有车企人士指出，长期低息本质是车企通过贴息让利， 以25万级车型为例，七年低息政策的累计贴息成本可能达到3至6万元，对于利润微薄的中小车企而言， 相当于吞噬10%至15%的单车利润，且长期贷款模式会占用企业大量现金流，仅具备规模效应与直营体 系的头部品牌能够有效摊薄成本。而从市场影响来看，超长期分期可能透支未来消费需求，导致后续市 场出现阶段性回落， ...