Pacific Auto Network Auto Finance is a payment method that consumers can directly apply for preferential payment from auto finance companies when they need loans to buy a car, and they can choose different models and different payment methods according to their personal needs.
Automobile finance mainly refers to the financial services related to the automobile industry, which is the way, path or a basic framework of financing involved in all aspects of automobile R&D, design, production, circulation and consumption, that is, how funds flow in the automobile field and the circulation channels of funds from fund suppliers to fund demanders. It mainly includes fund raising, credit application, mortgage discount, financial leasing, and related insurance and investment activities, which is the inevitable result of the mutual penetration of automobile industry and financial industry. Compared with banks, auto finance is a new choice for car purchase.
At present, there are five ways of personal automobile consumption loan: bank, auto financing company, auto factory finance company, credit card installment car purchase, and auto financing lease.
Replacing "selling" with "renting" is also a kind of automobile financing lease. First appeared in the United States, and now it has become the mainstream auto finance service in the United States. He is different from the traditional financial loan to buy a car. He rented the car to a customer, at which time the ownership of the car belonged to the auto financing company. When the lease expires, the ownership of the car belongs to the customer.
(Photo/Text/Photo: Pacific Auto Network Ancient _)
What is auto finance?
Auto finance means that when people lack financial resources to buy a car and need a loan, they can choose different models and different payment methods according to their different needs. In contrast, auto finance is a new choice for car purchase. There are several points to know about auto finance. Procedures: The loan buyer does not need to provide any guarantee, as long as he has a fixed occupation and residence, a stable income and repayment ability, and a good personal credit. Down payment: the down payment ratio is low and the loan time is long. The minimum down payment is 20% of the car price and the maximum period is 5 years. There is no need to pay the mortgage fee. The interest rate of auto financing companies is usually higher than that of banks. SAIC General Motors Finance Volkswagen Finance Dongfeng Motor Finance Mercedes-Benz Finance Ford Finance Toyota Finance, etc. Among them, SAIC General Motors Finance Company is the largest auto finance company in China.
What is auto finance?
Auto finance means that when consumers need a loan to buy a car, they can directly apply for preferential payment from auto finance companies, and they can choose different models and different payment methods according to their personal needs.
Since the "Administrative Measures for Auto Finance Companies" was officially implemented on August 8, 2004, China's auto finance market has experienced a development course of 14 years.
During this period, China's automobile sales increased by nearly 300%, but the automobile financial penetration rate only doubled, far below 70-80% of foreign consumption.
Extended data:
Financial model:
Replacing "selling" with "renting" is also a kind of automobile financing lease. It first appeared in the United States, and now it has become the mainstream of American auto financial services. He is different from the traditional financial loan to buy a car. He rented the car to a customer, and the ownership of the car belonged to the auto financing company at that time. After the lease expires, the ownership of the car belongs to the customer. The advantages of this auto finance are as follows:
(1) Packaged leasing lowers the threshold for car purchase. Chuangfu Auto Finance takes the naked car payment, purchase tax, license fee, insurance and other taxes and fees as the installment payment object. Customers only need to pay 20% of the total amount as the deposit and 1% of the handling fee within one year to get the right to use the vehicle, and the 20% deposit will be returned after the lease term ends.
(2) Rent is a kind of expense to provide VAT invoices for enterprises. It can be used as a voucher for reimbursement of car stickers and also as a basis for enterprise accounting.