Foreign countries, especially the United States, have a very mature automobile financing leasing industry, but domestic automobile financing leasing is still in the early stage of growth. Many car owners are even more confused about car financing leasing, and many users also have certain prejudice against it. There are many problems in the industry itself, which are more related to objective factors such as short development time.
As the saying goes, stones from other mountains can attack jade. Studying the characteristics of automobile financing leasing in the United States and other countries may have certain reference significance for the development of domestic business.
On a large scale, American car financing leasing accounts for 365,438+0% of new car sales.
Car financing lease is a common way to use a car in the United States. According to statistics, in 20 16, 3 1% of new cars were purchased from dealers by auto financing leasing manufacturers, reaching 4.3 million, and then leased to users through financing leasing. ?
The United States is the second largest new car market in the world, with 4.3 million vehicles accounting for 20% even in China. Among these 4.3 million vehicles, the financial leasing service penetration rate of luxury cars is much higher than that of cheap brand models. Among the top five brands in terms of penetration rate, there are four luxury brands: finidi, BMW, Lexus and Audi, and Mercedes-Benz ranks sixth. ?
How many financing channels does the financial leasing company have?
An indispensable part of car financing lease is capital. In this mode, the proportion of users paying down rent is low, and financial leasing manufacturers need to pay a lot of money in advance. Due to the relatively mature business development, financial leasing companies have many financing channels in the United States, including borrowing from the parent company, borrowing from banks, interbank lending, issuing various stocks and bonds, absorbing consumer savings, and issuing commercial bills. ?
For example, the sources of funds of General Motors Finance Company are very diversified, and financing can be carried out through asset securitization, bulk loans, and bond issuance. It provides sufficient financial guarantee for the development of automobile financing lease. ?
This is quite different from the situation in China. At present, domestic automobile financing leasing business mainly relies on interbank lending and ABS issuance for financing, and the financing environment is not as mature as that of the United States. ?
American car financing leasing customers have high quality and low interest rates?
In the United States, the proportion of buying a car in full is not high, and most of them are through financing, including financial leasing and car loans. Compared with China, the car financing lease rate in the United States is not high. Judging from the 36-year annualized interest rate, the average interest rate of automobile financing lease in the main engine plant is 5.62%, while the interest rates of new car loans in national banks and regional banks in the United States both exceed 4%, and the interest rate of automobile financing lease is not much higher.
Accordingly, the customer base of American car financing leasing is of high quality. The data shows that the proportion of super-high quality (credit score of 78 1-850) and high quality (credit score of 6 1-780) among auto financing leasing users is close to 70%, even slightly higher than the customer base quality of auto loans. ?
High-quality customers correspond to low interest rates, which makes the car financing leasing business in the United States enter a virtuous circle. In contrast, domestic auto financing leasing has just started, and there are undoubtedly many shortcomings, both subjective and objective. Subjective reasons are mostly management defects, such as business orientation leading to strong sales promotion by salesmen.
The objective reasons include the imperfection of domestic credit information system and different concepts. The credit information system in the United States is perfect and the user's risk control work is smoother. On the one hand, it can identify high-quality users and provide car financing leasing services with relatively low interest rates; On the other hand, customers have a stronger sense of performance and a lower overdue rate.
However, domestic auto financing leasing is mainly aimed at sinking people, and this part of customers may not only have difficulty in buying a car in full, but also have difficulty in loan approval. In addition, the number of people not covered by domestic credit information is as high as 700-800 million, the credit society has not yet formed, and the risk pricing is high.
On the other hand, because cars have strong social and asset attributes in China, many users are more persistent about "ownership", and the "lease period" in the early stage of financial leasing has become a "hurdle" in users' minds.
However, due to the rapid upgrading of cars, car financing leasing has gradually gained the favor of more and more users. Taking 1% down payment service provided by Ping An Car Manager as an example, compared with other methods, the advantages of financial leasing are also obvious:
1. The down payment is lower. Compared with the full payment and general car loan, the down payment rent of financial leasing is only 5%-20%, and some models can even be lower, which undoubtedly lowers the threshold for car purchase.
Take the 2020 Audi A4L as an example, the down payment ratio of ordinary car loans should not be less than 20%, and the income ratio of most car loans is actually above 30%. The down payment rent ratio of Ping An Car Butler is only 10%, and this fee has already included the purchase tax and the first year auto insurance, and the threshold for picking up the car has dropped to 30,000. At the same time, Ping An Car Manager also provides 48 installment cycles, which are longer than ordinary car loans and reduce the repayment pressure.
2. More choices. Due to the rapid replacement of models, many car owners change cars more frequently. When changing cars, it involves the disposal of used cars. Financial leasing can avoid this and provide users with more flexible disposal methods. Users can choose to return the car within a certain lease period, pay off the balance to obtain the ownership of the car, and replace it with a new car to continue renting.
3. it is faster to handle. Generally, if you buy a car in full or with a loan, you need to apply for a license plate and auto insurance. Ping An Car Manager 1% down payment does not require users to do this, and the staff will help them all the time.
Although the time is not long, the domestic car financing lease represented by Ping An Car Manager 1% down payment is undoubtedly becoming more and more mature, especially suitable for car owners who need to reserve more funds for daily turnover. Although there are many problems at present, I believe that with the passage of time, the domestic auto financing leasing market will become more and more mature.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.