According to experts, this “customer-first” sales policy of VinFast is an unprecedented opportunity for Vietnamese people to own electric cars and turn the dream of building a national brand in the high-tech industry into reality.
Attractive policy in the market: buy a car for only 176,000 VND/day
Specifically, according to the official announcement from the company, all VinFast electric car buyers will be eligible for the attractive installment purchase package with the “3 best” in the market: The longest loan term – up to 8 years; The highest loan value – up to 70% of the car’s price; The most attractive interest rate – only 5% in the first 2 years, 8% in the next 3 years, and 9.5% in the last 3 years. VinFast will provide support for all interest and associated costs over the 8-year period, including the difference if the floating interest rate of the bank is higher than those mentioned above.
Therefore, if customers buy the VF 5 Plus electric car with the current listed price (including battery and charger) of 559 million VND, the principal and interest payment will amount to about 5.29 million VND per month – cheaper than the cost of renting a class A car in the current market.
“With this offer, if I buy the VF 5 Plus, the daily cost is only about 176,000 VND, with a battery and charger included,” said Nguyen Thang, an office worker in Hanoi. He calculated that with that amount of money, he could spend on daily meals and coffee in the street, and would have spent more than this amount. “To spend a little more money to have a car right away, and enjoy the feeling of ‘rain doesn’t touch your face, sun doesn’t touch your head’, it’s very reasonable,” Thang affirmed.
This policy is considered the most attractive in the current car market. “Usually, few banks are willing to lend for 8 years, and at such a high loan ratio,” said Vuong Van Khanh, a credit appraisal expert currently working in Ho Chi Minh City.
Khanh explained that when borrowing, people often worry about the floating interest rate because they do not know how the market will fluctuate in the coming years. VinFast’s leading action to “shoulder” the risk instead of the buyer is something “rarely seen in the market.”
“Indeed, there is no regret in choosing to trust in VinFast,” said Doan Thi Ha (Hai Phong), a person who pioneered buying VinFast cars since the launch of the “Mighty Vietnamese Spirit” campaign for the first time. She plans to replace her current Fadil car to buy a higher-end electric car, and feels very excited when VinFast offers such “great” incentives.
In addition to applying the preferred loan amount, the Vietnamese automaker also commits to offering customers who already own VinFast gasoline-powered cars a maintenance package worth up to 5 million VND within 3 years, and an immediate 5% discount when switching to VinFast electric cars.
“I was saving money to buy a car when I saw that the installment purchase offer was too good, and I had to ask my husband to make a deposit right away,” Ha recalled confidently.
Joining hands for a Vietnamese brand with international stature
According to representatives of the Vietnamese automaker, this promotion is part of the second “Mighty Vietnamese Spirit” campaign launched by VinFast on March 1, 2024. This campaign aims to realize the dream of having a national brand with world-class industrial and high-tech capacity become a reality in Vietnam, and to create a truly “green” future for the community.
Experts evaluate that VinFast has taken strong and specific actions to realize that dream for Vietnamese people. With this policy, electric cars will easily reach all segments of users.
“VinFast provides a great solution, not just vague promises, so that everyone can turn their Vietnamese pride into reality. I believe that they will succeed, just like Japan or South Korea that have succeeded with their national brands,” said Trudel Huynh, PhD (HAN University of Applied Sciences, the Netherlands).
Experts evaluate that VinFast provides a great solution to turn everyone’s pride in Vietnam into reality.
The latest study conducted by J.D.Power, the leading market research company in the U.S., showed that majority of electric car owners will continue to choose electric cars when buying new ones, and only about 40% said they want to buy internal combustion engine cars.
In Vietnam, if we only consider the sales volume of VinFast, the number of electric cars delivered in 2023 reached nearly 35,000, 5 times higher compared to the same period last year. With the rapid increase in electric car sales and the growing diversity of products in many segments, it can be seen that Vietnamese users are becoming more open to environmentally friendly means of transportation.
Evaluating the prospects of the Vietnamese electric car market this year, an expert in the automobile industry believes that with practical incentives like those of VinFast, the number of electric cars will increase even more next year.
“Although it is not the only electric car company in the market, with a systematic business approach and customer-focused strategy, it is difficult for any car company to compete with VinFast at this time. VinFast will continue to be the ‘hot spot’ in the car market in 2024,” commented the expert.
For more information, customers can visit the website https://vinfastauto.com or contact the customer service hotline 1900 23 23 89.
