2. For legal persons: having the ability to repay loans; Can provide guarantee measures recognized by the loan bank for car purchase loans; Open a settlement account in a loan bank and deposit a down payment of not less than the specified amount; Willing to accept other conditions stipulated by the lending bank. (1995-65438+September 0998)
China's automobile consumption credit market started late, that is, 1995, when Ford Motor Finance Company of the United States sent people to China to study the automobile credit market, China had just started the theoretical discussion and preliminary business practice of automobile consumption credit. At present, domestic automobile consumption is in a relatively low period. In order to stimulate the effective growth of automobile consumption demand, some automobile manufacturers and some state-owned commercial banks try to carry out automobile consumption credit business within a certain profit range. However, due to the lack of corresponding experience and effective risk control measures, some problems gradually emerged, so that the People's Bank of China ordered the suspension of auto credit business in September 1996.
This stage lasted until September. 1998, the People's Bank of China issued the Measures for the Administration of Automobile Consumption Loans. Its main features are as follows:
Automobile manufacturers are the main promoters of the development of automobile credit market in this period.
Influenced by the traditional consumption concept, automobile credit has not been widely accepted and recognized by Chinese people.
As the main body of automobile credit, state-owned commercial banks still lack basic understanding and judgment on the significance, function and risk level of automobile credit business. (1998 65438+20021end of October)
After the central bank issued the Measures for the Administration of Automobile Consumption Loans in September 1998, it also issued the Guiding Opinions on the Development of Personal Consumption Credit in April 1999. Up to now, auto credit business has become an important way for state-owned commercial banks to improve credit structure and optimize the quality of credit assets. At the same time, domestic private car consumption is heating up gradually, and Beijing, Guangzhou, Chengdu, Hangzhou and other cities. Faced with the increasing demand of automobile consumption credit market, insurance companies have launched automobile consumption loan credit (guarantee) insurance in time in order to expand market share. The model of tripartite cooperation among banks, insurance companies and automobile dealers has become the mainstream practice to promote the rapid development of automobile consumption credit.
The main features of this stage are:
The proportion of automobile consumption credit in the total automobile consumption has greatly increased, from 1999 to 1% in 2002.
The main body of automobile consumption credit has expanded from four state-owned commercial banks to joint-stock commercial banks;
The role and influence of insurance companies in the whole auto credit market has reached its peak, and even whether auto credit can be carried out in some areas depends on whether insurance companies participate. (end of 2002-2003)
Since the end of 2002, the auto credit market in China has entered a competitive stage. The most obvious manifestation is that the auto consumer credit market has changed from the competition between auto dealers and insurance companies to the competition between banks, and commercial banks have begun to re-divide market share. The bank's business philosophy has undergone profound changes, from one-sided emphasis on the absolute safety of funds in the past to the pursuit of relative safety of funds based on overall scale benefits. Some banks, which started late in the automobile consumption credit market, have to adopt a "direct customer model" to find another way under the pressure of competition.
The main features of this stage are:
The bank's "direct customer model" and "indirect customer model" coexist.
Banks have continuously lowered the loan interest rate and down payment ratio, extended the loan term and relaxed the loan conditions and scope. Competition leads to the decline of the average profit level of the whole industry, the weakening of risk control links and the accumulation of potential risks.
The proportion of automobile consumption credit in the total automobile consumption continues to climb, from 15% in 2002 to about 20% in the first half of 2003.
The role of insurance companies in the whole auto credit market is weakening day by day, and professional auto credit service enterprises begin to appear, and China auto consumer credit begins to develop in a specialized and large scale. (2003, 2004 and beyond)
Long-term accumulated credit risks show a concentrated outbreak trend in some areas. Looking at the whole automobile credit market in China, it is gradually developing from the competitive stage to the orderly competitive stage. The measurement standards are as follows:
The auto credit market has realized specialized division of labor and specialized operation, and professional auto credit service enterprises have become the leaders of the whole market development, the integrators of various resources and the main force of risk control. Banks become providers of upstream funds, and automobile dealers and automobile manufacturers become providers of automobile products and services.
The industry tends to be mature, with an average annual growth rate of 5%-8%.
Product design is more suitable for the market, and the risk rate is controlled at a low level.