Guangzhou Automobile Huili Auto Finance Co., Ltd. is the first Sino-French joint venture auto finance company in South China, which is jointly funded by Guangzhou Automobile Group Co., Ltd. and Oriental Huili Personal Finance Co., Ltd., a large French banking group. At present, the business scope of GAC Huili covers more than 300 cities in China, and has established good automobile finance cooperation relations with more than 2,800 cooperative dealers. In the past five years, the average annual compound growth rate of GAC Huili has exceeded 35%. As of September 2020, GAC Huili has provided professional auto finance services to more than 2 million customers. The balance of retail loans has increased for ten consecutive years, exceeding 47 billion.
GAC Huili maintains close cooperation with seven brands of Guangzhou Automobile Group, such as Guangzhou Automobile Chuanqi, Guangzhou Automobile Honda, Guangzhou Automobile Toyota, Guangzhou Automobile Mitsubishi, Guangzhou Automobile Fick, Guangzhou Automobile Acura and Guangzhou Automobile Aian, and provides them with professional automobile financial services. According to the latest data, for every four cars sold by Guangzhou Automobile Group, 1 car was purchased through the auto finance service of Guangzhou Automobile Huili.
Second, manufacturer finance.
Vendor finance refers to the behavior of producing or selling vendors and selling products by installment. 2065438+On March 30th, 2006, the People's Bank of China and the China Banking Regulatory Commission jointly issued the Guiding Opinions on Increasing Financial Support in New Consumption Fields to encourage auto finance companies to innovate their business products. Now when consumers need a loan to buy a car, they can directly apply for a loan from an auto financing company. Compared with traditional bank loans, the two methods have their own advantages and disadvantages, and consumers should choose the loan method according to their own needs.
Bank loan means that the interest rate is regulated by the benchmark interest rate of the central bank. The bank will require a down payment of 30%-40%. Under normal circumstances, the longest period for finding a bank car loan is 5 years, and the longest period for used cars and commercial vehicles is 3 years. At the same time, the annual interest rate of banks is generally 4.35%, which is 4.75% within one year and five years. Although the annual interest rate of bank loans is low, the disadvantages are complicated procedures, strict examination and approval, and extremely slow lending, which is more friendly and safer for users who want long-term loans.
The characteristic of manufacturer finance is that the interest rate will rise, and the maximum will not exceed 4 times of the benchmark interest rate. Different manufacturers have different policies, and different policies have different emphases. The annual loan interest rate of ordinary auto financing companies is around 8%- 12%. At the same time, the down payment of manufacturers' finance will be much looser, the threshold will be lower and the lending speed will be faster.
Third, auto finance.
Automobile finance is a financial activity to provide funds for automobile production, circulation and consumption, which mainly includes fund raising, credit application, mortgage discount, securities issuance and trading, and related insurance and investment activities. It is the inevitable result of the mutual penetration of automobile industry and financial industry.
The initial function of auto finance is only to provide loan services to dealers of auto manufacturers and their subordinate retailers, and to allow their dealers to provide various loan or lease services to consumers. With the continuous expansion of business scope and functions, auto finance service companies gradually provide various forms of all-round financial services to consumers, dealers and manufacturers. Modern automobile finance has derived the functions of industrial finance: in addition to automobile consumption credit services, it also includes financial leasing, automobile consumption insurance, credit cards and so on. It runs through every link of manufacturing, sales, consumption and final scrapping of the entire automobile industry and related industries, including conditional financing and savings, credit cards, loans, automobile marketing, insider insurance and guarantees. , forming a relatively complete industrial chain of financial services.
In addition, long loan period and high interest rate are two characteristics of auto financing company loans, and borrowers must understand this before lending to buy a car. Long-term loans are attractive, but borrowers may not be able to afford the high interest rates demanded by auto financing companies. At the same time, it should be noted that manufacturers generally have additional requirements when providing financial services, such as bundling decorative packages. It is recommended to carefully check all agreements before payment to ensure that there is no hidden expenditure, so as to enjoy the convenience brought by financing car purchase through manufacturers.