VinFast’s “Light Initial Burden, Long-term Relaxation” installment policy, which is in effect until February 29, 2024, makes it easy for many Vietnamese families to own a smart electric car without the need for excessive wealth or waiting until they have enough money.
Changing the mindset of “waiting to be wealthy before buying a car”
Since having a child, Mr. Vu Quang Huy (Tay Ho, Hanoi) has become more aware of the inconvenience of using a motorbike. Every time he goes back to his hometown, the whole family has to go to the bus station, which is both tiring and time-consuming. Family trips to distant places are almost unimaginable.
“Seeing everyone driving a car that is both convenient and safe, I also really want one but due to limited financial resources, I have to accept the situation,” Huy shared.
However, the life of Mr. Huy’s family has taken a new turn since they purchased the VF 5 Plus electric car with an unbelievably low initial cost during the recent Lunar New Year. Huy said that the car has a listed price of 468 million VND (for the battery lease option), but with the installment purchase policy that VinFast and the four partner banks Vietcombank, Vietinbank, BIDV, and Techcombank have implemented, he only has to pay an upfront payment of 30%, equivalent to over 140 million VND.
Customers feel extremely lucky to own a VF 5 with only 140 million VND as the initial cost
The remaining 70% can be borrowed from the bank, with a fixed interest rate of 5% for the first 2 years. In the following 3 years, VinFast guarantees that the interest rate will not exceed 8%. If the actual interest rate is below 8%, Huy can repay according to the actual rate. But if the market interest rate exceeds 8%, Huy only has to repay 8%, and the difference will be covered by VinFast. Based on calculations, the monthly installment, including both principal and interest, that Huy has to pay is only 6.34 million VND. Adding the monthly battery lease fee of 1.6 million VND, Huy only has to pay about 7.9 million VND per month, equivalent to over 264,000 VND per day for his VF 5 Plus car.
Moreover, with VinFast’s flexible policy, in case customers choose not to borrow and opt for the battery lease option, they will receive 2 years of free battery lease and 2 years of free charging at VinFast charging stations (depending on the car model). The total value of gifts that customers will receive can reach up to 128.4 million VND. For customers who purchase a car with battery lease, the equivalent amount of the 2-year lease cost will be deducted directly from the car price.
According to Huy, owning a car not only reflects individual success but more importantly, it is a versatile and safe means of transportation that enhances quality of life. Since having the car, their trips back to the hometown have become more convenient. On weekends, the whole family can go on long drives without much thought; just pack their belongings and go. Especially for daily commuting, Huy no longer has to worry about the weather, be it sunny, rainy, or cold.
“The idea of waiting until we become rich and financially stable to buy a car is outdated. Starting with an initial saving of just over 140 million VND and a monthly installment of just over 6 million VND is entirely within the reach of many families. So, buying a car has become very simple,” shared the owner of the VF 5 Plus.
Accelerating “closing the deal” before the deadline
Observations at VinFast showrooms in Hanoi after the Lunar New Year indicate a significant increase in customers researching electric car models. Most of them do not want to miss this rare opportunity to own a car because VinFast’s policy allows them to enjoy a convenient lifestyle without the need to wait and also relax financially without worrying about interest rates.
When learning about the VF 7, Mr. Do Duy Khanh (Cau Giay, Hanoi) said that since they decided to “upgrade” to a four-wheeler, both he and his wife agreed it had to be an electric car. Being a man, Khanh was impressed by the power and instant acceleration of electric cars. This is something that most gasoline cars do not have, or is only a “privilege” of expensive sports cars.
VF 7 easily convinces customers with its impressive design, exciting driving experience, and intelligent features
On the other hand, his wife’s approval came from the enjoyable experiences that the smart features of electric cars bring. Among them, the Vietnamese voice assistant not only allows the driver to control the vehicle’s features hands-free but also provides moments of relaxation and comfort for the whole family, such as playing music and telling humorous stories.
“Our determination to buy an electric car increased after ‘inspecting’ the VF 7 at the showroom because the car looks much more impressive and beautiful than in the photos. The feeling of stepping out of this stylish and powerful Italian-styled car is truly exhilarating,” Khanh excitedly expressed.
In addition, according to Khanh’s calculations, using an electric car helps him save significantly compared to using a gasoline car as the energy and maintenance costs are much cheaper. For example, with a monthly mileage of about 3,000 km, including the battery lease fee and the average electricity cost, Khanh will only have to pay around 4.5 million VND for his VF 7. Meanwhile, the fuel cost for equivalent distances with gasoline cars in the same C-SUV segment usually amounts to nearly 6 million VND.
The attractiveness of VinFast electric cars also comes from the longest warranty period on the market, ranging from 7 to 10 years, 2 to 3 times longer than usual policies. In addition, electric vehicle users can have the peace of mind with VinFast’s exclusive after-sales services, including free 24/7 roadside assistance throughout the warranty period, mobile repairs, 24/7 mobile charging, guaranteed buy-back of used cars after 5 years, etc.
These outstanding advantages in terms of design, engine power, features, equipment, operating costs, combined with attractive installment policies, are the factors that are driving customers to “close the deal” on VinFast electric cars as the deadline of February 29 approaches.
The preferential interest rate support policy for customers to purchase VinFast electric cars with installments is implemented until February 29, 2024, for all VinFast battery lease electric car models on the market. Customers who purchase VinFast battery lease electric cars will enjoy a fixed interest rate of 5% for the first 2 years and 8% for the following 3 years, with a loan-to-value ratio of up to 70%. Detailed information about the promotion policy and VinFast electric car products is updated at www.vinfastauto.com.
Thai Son (Tuoitrethudo)
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