Buying your car in Shanghai often means setting up a finance plan with a bank. You will need to show a residence permit and prove that you have a stable income. You will also probably find yourself paying in cash, since China is still very much a cash-based society. Recently some dealers are able to offer customers finance options, but only because manufacturers are establishing finance programmes that work directly with their dealerships. GM’s joint venture with the Shanghai Automotive Industry Corp has created GMAC-SAIC Automotive Finance, which provides retail finance for buying GM cars.

All the big banks offer finance schemes, so you can shop around for rates, which vary depending on the car, your financial situation and each bank’s policies. Shanghai Pudong Development Bank’s finance plan requires clients to pledge one of three guarantees, including a warranty or mortgage. Make sure you have a clear understanding of what’s involved to prevent having to deal with any surprise payments.