Buying a new car is small change - lots of it

A man in central China has made headlines for using bags of small change to buy a car worth 400,000 yuan (S$82,600). The man, who was not named by Chinese media, brought sacks of coins and small-denomination notes to a car dealer in Zhengzhou, centra
PHOTO: CHINAFOTOPRESS

A man in central China has made headlines for using bags of small change to buy a car worth 400,000 yuan (S$82,600). The man, who was not named by Chinese media, brought sacks of coins and small-denomination notes to a car dealer in Zhengzhou, central Henan province, reported the South China Morning Post last weekend. The largest bills were one yuan and the smallest coins, one jiao (a tenth of a yuan), the China Youth Daily reported. The money was used to pay for a Toyota Land Cruiser Prado - but not before four staff members finished counting the money after 12 hours. "My hands are still twitching," one employee was quoted as saying. The bags of small change were so heavy that the man blew a tyre while driving to the dealer, he was reported as saying. The man reportedly runs a flour shop and received the small change from customers. He had attempted to make the purchase at other dealers, but they refused his unusual form of payment. Banks also turned down his request to change the coins and small notes for bigger denomination notes. The man had previously bought a 480,000-yuan vehicle with coins, too, according to reports.

A version of this article appeared in the print edition of The Straits Times on November 29, 2016, with the headline 'Buying a new car is small change - lots of it'. Print Edition | Subscribe