Two Hebei dealerships allegedly exploited car trade-in incentives and financing
Caixin reports that nominal car owners and buyers of discounted vehicles face loan defaults and repossession risks after the alleged scheme unraveled.
TLDR
Caixin reports that an auto-trading scheme in China has unraveled after two Hebei dealerships allegedly exploited trade-in subsidies and auto financing. It says consumers and financial institutions face significant losses, while nominal car owners and buyers of discounted vehicles face loan defaults and repossession risks.
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