Auto finance is the financial industry, automobile industry and combined with the new, broadly refers to all the financial services industry and cars, in a narrow sense in the process of the auto financing refers to automobile trade needs financial support services, we usually say auto financing generally for special automobile financial concept, subdivided into car deals and loans (including automotive consumer loans, mortgages), auto financing lease (namely to rent buy on sb\'s behalf, the following call to rent act as purchasing agency) two categories, such as contact also has the difference between the two classes, one of the core difference between to rent act as purchasing agency auto transfer of ownership of the process, However, other loan types of auto finance have no transfer process of car ownership, only mortgage to financial institutions.
To rent to buy (namely car finance lease) and auto loans (including bank auto loans, manufacturer finance company loans, third-party auto finance company loans, etc.) are within the scope of auto finance, but there are some differences, the following is specifically to do the difference between the two business comparison.
First, the difference of the concept (key point: the fundamental difference is whether there is the transfer of car ownership)
1. Buying on behalf of rent: Buying on behalf of rent is one of the forms of financial leasing business. It is a form of automobile consumption that realizes the purpose of buying cars in stages by means of a package business that integrates customers\' long-term leasing of vehicles and the disposal of second-hand vehicles.
The vehicle is rented for a long time, the rent is paid monthly, and the ownership of the vehicle is transferred to the customer when the lease term expires.
2, auto loan: auto loan refers to the loan lent by the lender to the borrower who applies for the purchase of cars, also called auto mortgage.
Loan Object: The Borrower must be a permanent resident of the place where the Lender is located and have full capacity for civil conduct.
Loan conditions: the borrower has a stable career and the ability to repay the loan principal and interest, good credit; The third party who can provide the admissible assets as the offset or pledge, or who has sufficient ability to compensate for the loan, shall be the guarantor to repay the principal and interest of the loan and bear the joint and several liability.
Loan amount: The maximum loan amount is usually not more than 80% of the car\'s sale price.
Loan term: the term of automobile consumer loan is generally 1-3 years, the longest is not more than 5 years.
Loan interest rate: The People\'s Bank of China stipulates uniformly.
Loan repayment method: one-time principal and interest repayment method and installment repayment method (equal principal and interest, equal principal) can be selected.
Second, the form of expression
1. In the form of rent purchasing, it is a "mixed property". To "melt" as a means to achieve the ultimate "financing" purpose.
2. The form of auto loan is "financing". With "financing" as the means, supplemented by the means of mortgage, and to achieve the "financing" purpose.
Three, the difference of risk control means
1. Take the main risk control means of rent purchasing agency as "controlling property" and assist the "controlling person". Because the cars purchased by renting agents are registered in the company\'s name and signed with the rental contract, the company can retrieve the cars and dispose of them in time once the customer breaches the contract. Therefore, risk control means are generally for the purpose of vehicle control, supplemented by customer qualification audit.
2. The main risk control means of auto loan is "person control", supplemented by "object control". Because the car loan is registered under the customer\'s name and signed the loan contract, once the customer defaults, we can only try to find the customer, and it is difficult to recover the vehicle and deal with it. Therefore, the risk control means mainly control customers, supplemented by customer vehicle mortgage and other means.
IV. Difference in the direction of risk control
1. With high profit margin and profit amount, small number of customers, concentrated customer area and offline transaction as the main characteristics, rental purchasing is more suitable for one-to-one on-site investigation and has higher reliability in risk control.
2. Due to the characteristics of low profit of auto loan, large number of customers, wide geographical area of customers, and online transaction, etc., we cannot afford the cost of on-site inspection and personnel costs, so we are forced to focus on the work direction of customer credit information inquiry.
5. Different operation models
1. Purchasing on the basis of rent belongs to niche consumption and has certain limitations on the customer base. Therefore, precision marketing is the fundamental operation model. Industry leaders such as: Peanut car, play a car (big search car brand), win time pass, happy meet, China buy buy car, one step buy car, meow buy car and so on
2. car deals and loans belong to mass consumption, and the customer groups are relatively wide, including new car loan customers and car loan customers (pledge, mortgage, double pressure and other specific modes), so the marketing is mainly based on brand publicity. Industry leaders such as: major commercial banks, major manufacturers of financial companies, other third-party car loan companies (first car loan, Yi Xin car loan, micro loan network, etc.)
VI. Different approval and supervision units
Purchase on behalf of rent is the business form of financial leasing companies. There are 7,626 financial leasing companies (as of the end of March 2017), which can be divided into two categories:
1. One category is financial leasing companies, approved by the CBRC and supervised by local financial offices. Generally, there are 63 companies in China with the background of banks.
2. The other category of non-financial financial leasing companies is further divided into two categories: one is domestic pilot financial leasing companies, which are jointly approved by the Ministry of Commerce and the State Administration of Taxation and supervised by local commercial commissions. Now there are 217 companies in China. The other category is foreign-funded leasing and leasing companies, approved by the Ministry of Commerce and supervised by local commercial commissions. Now there are 7,346 in total in China.
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