How much does auto finance know?
Those who have car purchase needs must have visited many 4S stores. In the process of inquiry, they will also be involved in this part of the car loan. At present, most people will choose loans to buy cars, and many 4S stores have hung down payment by 50%. 0 attractive interest rate promotions, then the loan to buy a car in the end there are several ways? Currently, there are several forms of credit card loans, bank loans, and auto finance company loans. How to choose these types of forms? Behind the several forms, what kind of hidden circumstances, we will give you an analysis below.
Formally speaking, the advantages of credit card loans are the speed of approval and low barriers, and the relative process of auditing is simple. Many credit card products also have an interest-free period. Car buyers pay their monthly repayments without interest. The minimum amount of bank loan down payment has been reduced to 20%, but the approval period is relatively long, and it is possible that after waiting for a lap, the results of the audit failed. The biggest advantage of auto financing companies is that they don’t need to provide any guarantees for loan buyers. As long as they have a fixed occupation and residence, stable income and repayment ability, personal credit can be good. For example, the above mentioned down payment 50%, 0 interest rate loan method.
After understanding these loan methods, we can take a look at what is behind the auto finance. Auto finance is the integration of funds in all aspects of automobile production, circulation, and consumption. Auto finance loans include both loans to manufacturers and dealer loans, as well as consumer loans. Auto finance has developed in foreign countries for quite a long time. The penetration rate has reached more than 60% and it belongs to a relatively mature industry. In China, when the market size of auto finance climbed to 8,000-900 billion in 2015, the overall penetration rate was only about 35%. Therefore, the market potential of auto finance cannot be underestimated.
Banks and auto finance companies currently account for 95% of the market, but this pattern is being gradually changed by the sudden emergence of financial leasing companies. Although the industry needs quite good risk control capabilities, lower capital costs and a stable source of customers, the threshold is quite high, but this giant cake leader is bad, behind the giant backing.
We can focus on the relatively better industry experience of auto finance companies. Well-run auto finance companies must be closely linked with the manufacturers in terms of dealer loans, because the data mastered by the manufacturers can not only well understand the profitability of dealers, but also can be achieved through the control of the manufacturers to the dealers. Loan demand is locked. In the personal auto loans, through the coordination of the manufacturers, exerting pressure, in the grant of some subsidies, why not pull customer resources?
Although the pattern is relatively clear at present, but with various uncertainties and the development of the automotive industry technology, I believe that this market will slowly evolve new features.
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