Lao Zhang used to be the head of an auto finance supermarket. He changed his job around 2020 because the management of the company was not satisfactory. For the reason why auto finance is difficult to do, Lao Zhang explained, "On the one hand, the whole auto market is not ideal; On the other hand, the Matthew effect of the auto finance industry is getting stronger and stronger, and the company has incomplete qualifications, small scale and limited competitiveness. "
In the big environment, it is not only Lao Zhang who is affected, but also other auto finance companies above designated size. Sky-check data shows that in 20 19 years, 25 approved auto financing companies in China had 36,818 pieces of annual information related to this case. By the end of 20021,this figure had risen to 80477, an increase of 1 18% in two years. Judging from the cause of action, financial loan contract disputes and loan contract disputes account for more than 80%.
The non-performing loan ratio has risen.
According to the survey data, according to the information involved in 202 1, Chery Yin Hui, Changan Automobile Finance and SAIC-GM Automobile Finance rank among the top three among the 25 automobile finance companies, and the information involved each year is 17538, 8367 and 7229 respectively. 20 19 to 202 1 auto finance company 15, including changan auto finance, BYD auto finance, Tianjin Great Wall Binyin auto finance, Mercedes-Benz auto finance, Yulong auto finance and Brilliance East Asia auto finance, with growth rates of 9 15% and 6,000% respectively.
According to industry sources, the increase in the annual case information of most auto finance companies is related to the increase in the non-performing rate of auto finance, and financial companies have to take collection or judicial measures to stop losses. Ping An Bank also mentioned in its annual report that its auto finance takes judicial proceedings as the main collection method, and at the same time strengthens the collection process management through AI and other scientific and technological means. Another bank insider said in an interview, "The customer is overdue. When the car arrives for the second time, they will go to the trailer with the traffic police and the media, and the trailer will be auctioned in JD.COM. COM .
According to the data of the annual report, in 20 19 and 2020, the NPL ratio of auto finance loans of Ping An Bank was 0.74% and 0.7% respectively, which was only higher than that of housing mortgage loans and licensed mortgage loans (0.3% and 0.3 1%). However, in 20021year, this figure rose to 1.26%, with an increase of 56%, exceeding the overall non-performing rate of personal loan projects of Ping An Bank. Regarding the fluctuation of the quality of auto financing loans, Ping An Bank explained in its annual report that the increase in the non-performing rate of auto financing loans was mainly affected by the external macro-environment and the rising risk of commercial vehicle loans.
It is worth mentioning that Mercedes-Benz Auto Finance is the first auto finance company with a luxury car background among the top 6 in the aforementioned list. Generally speaking, institutions with luxury car brand background such as Mercedes-Benz Auto Finance have stronger economic strength and solvency than car loan borrowers. In addition, their car loan business started earlier, the risk control system is mature, and the risk control ability is relatively stronger than most financial institutions with their own brands.
However, according to the survey data of Tianyan, as of June 2 1 day, among all cases of BMW and Mercedes-Benz brands, 2,877 and 973 cases were filed for the first time, accounting for 55% and 43% of the total information of brand cases respectively. Among them, 1923 cases were diagnosed for the first time since 2020, and 4 17 cases were diagnosed for the first time, accounting for 66.8% and 42.8% of the total cases respectively. In other words, since 2020, more than 1000 BMW and Mercedes-Benz owners have become executors.
In this regard, some insiders said, "It is not necessarily the absolute rich who buy Mercedes-Benz BMW. Some consumers are more out of social needs, and the ability of assets to resist risks is not high. In case of crisis, they will face higher repayment amount. Instead, it is more likely that the loan will be broken. "
Wang He and Li's experience is typical in the disputes over financial loan contracts of various auto financing companies.
According to the refereeing document network, on 20 18, Wang, as the borrower, and Li, as the same borrower, signed the Auto Loan Mortgage Contract with Mercedes-Benz Auto Finance Company. According to the contract, Wang and Li borrowed 599,900 yuan from Mercedes-Benz Finance Company, and the loan period was 36 months. The annual interest rate before subsidy is 65,438+065,438+0.73%, and that after subsidy is 6.99%. Monthly repayment 18520.43 yuan. They have appeared in loans overdue since July 17, 2020. After repeated urging by Mercedes-Benz Finance Company, the agreed payment has not been fulfilled (remaining loan principal162611.75438+0 yuan). Subsequently, Mercedes-Benz Financial Company used judicial means to stop losses.
According to the ruling, some bank accounts of Wang and Li were frozen, but the balance was very small, and there was no other real estate, securities and other property registration information. In late August last year, both of them were included in the list of untrustworthy executors, limiting high consumption.
What if the loan is cut off?
Then, if the average consumer faces the risk of default on car loans and doesn't want to encounter the situation of Wang and Li mentioned above, what should he do?
Some insiders said that if you find that you can't repay on time, you must answer the phone or information of the bank, truthfully explain the situation and repayment willingness, and apply to the bank for an extension; Second, if the repayment amount is not large, you can ask friends and relatives for help; Third, you can negotiate with the bank to sell the car, repay it with the money from selling the car, or agree with the bank to discount the mortgage. An insider of the above-mentioned auto finance company said that it is necessary to consume rationally. A car is not a necessity. You'd better choose a car that you can afford. It is meaningless to "punch a swollen face and fill a fat man".
According to the survey data of Tianyan, as of June 20th, the annual information of 25 auto financing companies involved in the case was about 35.6% of that of 202 1 year, with a significant decrease. Among them, the cumulative number of cases of BYD Auto Finance, Shanghai Zhengdong Auto Finance, Ford Auto Finance and Ruifu Auto Finance during the year was less than 20% of 202 1 year, far below the industry average; Yulong Auto Finance, Shandong Haowo Auto Finance, Volkswagen Auto Finance, Sany Auto Finance and Huatai Auto Finance accounted for more than 50%.
According to the research report released by China Chengxin International, in 20021year, with the recovery of China's macro economy, the normalization of epidemic prevention and control, and the gradual recovery of individual solvency, the overdue rate of the basic assets (securitization assets) of personal car loan ABS products dropped to the pre-epidemic level as a whole. Specifically, the overdue rate of basic assets 1-30 days fluctuated greatly, but it basically recovered to the pre-epidemic level; The overdue rates of basic assets are 3 1~60 days and 6 1~90 days, except for personal car loan ABS products issued in February.
The cumulative default rate is at a low level as a whole. It is expected that the overall performance of credit quality of ABS products for car loans will remain stable in 2023.
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