Used Car Sales Platform Uxin Expands into New Car Trading
iFeng Tech, 10/31/17
Beijing-based Youxinpai Auction (Uxin), operator of B2C used car trading platform Uxin Used Car, recently announced a new trading service for new car transactions, called Uxin Xinche Yichenggou. The new service allows users to buy a new car under a lease-to-own model by making a 10% down payment.
Apart from the initial down payment, all vehicle sales tax, licensing fees, and the first year of insurance are paid for by Uxin. Users pay a monthly rental fee to Uxin during the first year of their lease and receive full use of the vehicle.
Following the one-year rental term, users are given the option to buy the vehicle outright by paying for the vehicle in full and transferring title to their own name. Alternatively, users can elect to continue under a lease-to-own model, according to which the vehicle title is transferred to the user's name, and the remaining purchase price is paid off in installments over a three-year period.
Currently, Uxin has partnered with 26 mainstream Chinese and foreign vehicle brands for its Uxin Xinche Yichengguo platform, to allow users to select from 67 popular vehicle lines and 147 different models. The service is available in more than 100 Chinese cities.
Keywords: Internet B2C Youxinpai Uxin automobile e-commerce
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