At present, there are nine wholly foreign-owned or controlled auto financing companies in China. Volkswagen, Toyota, Fiat, Ford, Peugeot Citroen, DaimlerChrysler, Volvo, Nissan and so on. Are testing the water in China auto finance market. Large automobile companies also have their own financial departments, but there are not many in China. One of the most famous is FAW-Volkswagen's "financial engine". In China, auto financing companies are non-financial institutions established in accordance with the Company Law of People's Republic of China (PRC) and other relevant laws and these Measures (Measures for the Administration of Auto Financing Companies) to provide loans to domestic auto buyers and engage in financial business, including Chinese-funded, Sino-foreign joint ventures and wholly foreign-owned auto financing institutions.
Automobile financial service is an important strategic measure of FAW-Volkswagen. First, select some high-quality and carefully selected products and put them on the platform. Screening financial institutions from the customer's point of view, presenting the quality products of excellent financial companies to customers, greatly protecting the interests of customers. Secondly, this is a tailor-made concept, hoping to provide customers with not only some financial products, but complete financial solutions. We can optimize the combination according to the different conditions and preferences of customers.
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. 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.
1, bank car loan
Procedures: you need to provide household registration book, real estate license and other information, and usually you need to use the house as collateral, find a guarantee company to guarantee, and pay the deposit and handling fee.
Down payment: Generally, the down payment is 30% of the car price, and the loan period is generally 3 years. Need to pay a deposit of about 65,438+00% of the car price and related handling fees.
Interest rate: the bank's car loan interest rate is determined according to the bank's interest rate.
2. Auto financing company
Procedures: car buyers do not need to provide any guarantee, as long as they have a fixed occupation and residence, a stable income and repayment ability, and 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 longest life is 5 years, without paying the mortgage fee.
Interest rate: The interest rate of auto financing companies is usually higher than that of banks.
Companies: SAIC General Finance, Volkswagen Finance, Dongfeng Motor Finance, Mercedes-Benz Finance, Ford Finance and Toyota Finance.
3. Automobile Factory Finance Company
Procedures: You need to provide mortgage guarantee for the purchased vehicle. The applicant should have a stable occupation, domicile and repayment source, and have a good credit record.
Down payment: the minimum down payment is 20% of the car price, and the longest period is 5 years.
Interest rate: The interest rate is usually slightly higher than that of banks and slightly lower than that of auto financing companies.
Companies: SAIC Finance Company, FAW Finance Company, GAC Huili, etc.
4, credit card car installment payment
Car purchase by credit card installment is a credit card installment business launched by banking institutions. The credit limit that the cardholder can apply for is 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no loan interest rate for buying a car by credit installment, and the bank only charges a handling fee. The handling fee rate is different in different installments.
5. Car financing lease
Financial leasing is a modern marketing method that relies on cash installment payment. On this basis, it introduces the separation of ownership and use right in leasing services, and the ownership is transferred to the lessee after the lease ends.
Procedures: the threshold is low, no mortgage is needed, and non-local accounts are also acceptable.
Down payment: the down payment ratio is low and the loan time is long. The minimum down payment is 20% of the package price (vehicle purchase tax insurance), and the longest period is 5 years, without paying the mortgage fee.
Interest rate: Financial leasing companies customize different interest rate schemes according to different customers and modes. Usually higher than banks, but some models have manufacturers' support policies, which can reach the lowest market price.
Property right: There are two ways: direct lease and leaseback. The automobile property right of direct lease mode belongs to the financial leasing company and will be transferred after the lease expires.
2. What are the auto financing companies?
1. Establishment of automobile manufacturers: Shanghai General Motors Finance Company and Volkswagen Finance (China) Co., Ltd. are relatively large; 2. Internet auto finance company: Carrier. Com is doing very well. The company has an automobile professional background, strong ability to tap high-quality projects and raise funds, and a good risk control system; 3. Traditional auto finance companies: Chongqing auto finance company and Sany auto finance company are both doing relatively big.
Third, do 4s stores have their own financial staging now?
4s stores now have their own financial management stages, and 4S stores also set staging tasks for employees, so in order to complete the tasks, employees will naturally try their best to promote them. Moreover, it should be noted that many 4S stores have cooperative relations with auto consumer finance companies, which successfully help cooperative lending institutions attract customers, and 4S stores can also have dividend income.
Also, buying a car often requires a lot of money, which may not be paid in one lump sum for many ordinary people. If the 4S shop suggests buying a car by stages, it just solves the consumer demand of customers. Of course, if the customer has enough funds, it is enough to buy the car directly in full, otherwise it will be necessary to pay the installment fee.
Four, there are several auto loan finance companies.
There are too many loan companies. The used car market is generally around 30, and there are many provincial capitals.