Legal analysis: car installment means that the user is divided into several installments and pays in installments every month. Installment payment is a hot spot in the current automobile market. In the current depressed market environment, installment payment is regarded by many businesses as an effective means to seize market share.

Legal basis: Measures for the Administration of Automobile Loans

Article 5 The interest rate of auto loans shall be implemented in accordance with the loan interest rate regulations published by the People's Bank of China, and the methods of interest calculation and settlement shall be determined by both borrowers and borrowers through consultation.

Article 6 The loan term of auto loans (including extension) shall not exceed 5 years, among which the loan term of used car loans (including extension) shall not exceed 3 years, and the loan term of dealer auto loans shall not exceed 1 year.

Article 7 Lenders and borrowers shall follow the principles of equality, voluntariness, honesty and credibility.