Recently, BYD has been making aggressive moves toward the end of the year. The intensity of its efforts is extraordinary, with new models and price cuts catching everyone’s attention. Clearly, BYD is aiming to push for a strong year-end sales performance. However, this aggressive strategy has also left many potential buyers unsure about whether to proceed with their purchase. If you’re considering buying a BYD, focus on these six key points.
1. Pay in Full if You Can; Avoid Loans at All Costs
While paying in full for a car might have its pitfalls, it’s far less risky than opting for a loan. Salespeople might try to convince you that financing comes with discounts or perks, but don’t believe the hype. The golden rule is: paying in full is always better than financing, even if financing seems to offer a discount of a few thousand yuan. Loan arrangements often come with hidden complexities, such as "zero down payment," "zero interest," or "five-year installment plans," which can be very confusing.
Take the Tang DMI model as an example. Its base price is ￥187.800. With a 30% down payment of ￥56.340 and a 60-month loan, the monthly payment is ￥2.466. At first glance, this seems manageable for many buyers, but a closer look reveals that financing costs at least ￥16.500 more than paying in full. Don’t forget the additional loan handling fees, which are often unspecified and can increase the costs significantly. And that’s just the tip of the iceberg. Offers like zero interest or zero down payment often come with even more pitfalls.
2. Buy at the End of the Year
Unlike other car manufacturers, BYD tends to offer the most significant discounts at year-end. This is when the company pushes hardest to meet its sales targets, offering the biggest and most generous price cuts. Buyers can usually secure better deals during this period. Don’t hesitate to negotiate—the chances of getting additional discounts are higher if you can bargain effectively.
3. Opt for Mid-Trim Models Over Low or High Trims
In recent times, BYD’s sales strategy has shifted slightly, with mid-trim models now offering the best value for money. Low-trim models are mainly designed to boost overall sales numbers, while high-trim models are often overpriced for what they offer. Mid-trim models strike the perfect balance, providing the best features at reasonable prices. High-trim models frequently come with features that most drivers don’t need but still have to pay for, including higher insurance costs.
4. Only Buy the Essential Insurance Policies
When buying a new car, you’ll often be presented with a long list of optional insurance policies, which can be overwhelming. Some of these, like charging station insurance, are completely unnecessary and a waste of money. For a BYD Tang DMI, for example, aside from the mandatory traffic accident liability insurance, you only need three key policies: third-party liability insurance, vehicle damage insurance, and, optionally, medical payment liability insurance. Other policies are simply not worth it.
5. Stick to BYD’s Best-Selling Models
Avoid buying BYD’s less popular models. As with other car manufacturers, lower sales volumes can mean future headaches, such as difficulty finding spare parts or overly expensive repairs at authorized service centers. In contrast, popular models come with the advantage of easier access to parts, including those from scrapped vehicles. Less popular models might not have sufficient spare parts production, leading to even more problems down the line.
6. Buy a Car Based on Your Needs (The Most Important Rule)
This is the single most critical point: your needs should drive your decision. No matter how much others rave about a particular model, always prioritize what you need. For instance, if you’re mainly using the car for daily commutes, a fully electric vehicle may suffice, and there’s no need to opt for a plug-in hybrid. Conversely, if you enjoy road trips, choose a plug-in hybrid over a fully electric car. Your needs come first—don’t let pride or the opinions of others push you into spending more than you can afford. A car is just a tool; it shouldn’t become a financial burden.
