Consumer finance refers to loans issued by consumer finance companies to consumers for consumption (excluding house purchase and car purchase).
Consumer finance company refers to a non-bank financial institution established in People's Republic of China (PRC) with the approval (permission) of China Banking Regulatory Commission, which does not absorb public deposits and provides loans for consumption to domestic residents on the principle of small amount and dispersion.
Features Single credit line is small, approval speed is fast, and mortgage guarantee is not needed. Flexible service mode and short loan period.
For example, when we buy consumer goods such as clothes, mobile phones or household appliances, installment payment is consumer finance. The ant flower buds and JD.COM mooring bars commonly used in our previous life belong to consumer finance. (Internet platforms such as Ant Flower Garden and JD.COM Blog cooperate with licensed consumer finance companies to provide consumer financial services to consumers).
The essence of consumer finance is to meet the material needs of consumers who have shopping needs in advance, but can't pay in full in the short term: spend tomorrow's money and realize today's dreams.