Car companies are competing to launch super long low-interest loans. With a 7-year loan, the interest would be 26,000, which is half of what banks offer.

Recently, several car companies have successively launched "7-year super long-term low-interest" products. A reporter visited many car company-owned stores in person, and a certain domestic brand's car company employee told the reporter that their SUV model, with a selling price of about 200,000 yuan, after zero down payment, calculated on a 7-year loan, the monthly payment is about 2,700 yuan, with a total interest of about 26,000 yuan, which is about half of the interest on a bank loan. However, the reporter also learned that this type of loan is different from traditional bank loans, as some car companies require repayment for at least 3 years before being able to pay off the entire loan in a lump sum.