Interpretation of auto loans in the automobile financing company management approach

"Rules" What are the benefits to consumers

October 3, 11 long holiday period, has long been rumors of "auto finance company management approach" (hereinafter referred to as "the way") suddenly announced the implementation of the China Banking Regulatory Commission and the website published the "approach" the text.

This introduced the "measures" from the drafting of the second half of 2001 and October 8 last year, announced the "measures" on the basis of the draft amended from. "Measures" mainly from the auto finance company's market access conditions, business scope and supervision and management and legal responsibilities to make provisions, a total of 42 is divided into five chapters.

The China Banking Regulatory Commission official said, "to" The promulgation and implementation of China's accession to the World Trade Organization commitments, and regulate automobile consumption credit business management of important initiatives, will cultivate and promote the diversification of the main automobile financing business, automobile consumption The professionalization of the credit market have a positive and far-reaching impact.

It is learnt that in recent years, China was the individual car consumption loans soared situation in 2002 than in 1998 increased by 286 times. However, relative to vehicle speed the development of the consumer market, far from the scale of existing loans can not meet the needs of loans sold through the vehicle of the total sales of new vehicles less than 20 percent, with 70 percent of foreign far apart.

Car loan procedures will be simplified

"Measures" in the core content is built cars financial institutions, this means that the Chinese foreign cars will be fully liberalized. In future, consumers can purchase loans to some of GM, Ford, Volkswagen and other foreign financial companies for professional car.

Beijing Automotive Industry Development Research Institute Jia Xinguang, chief analyst believes that the domestic automobile financing company will mostly from Ford, GM, Volkswagen Automotive Group, and other transnational auto finance company to build. These companies have a complete set of specialized service system, so you can provide more comprehensive services.

For example, most of the automobile credit to charge several thousand dollars of loan guarantees or insurance, financial and professional auto companies is likely to avoid risks through professional security measures without charging fees. In addition, the loan formalities, may also be simplified.

That the benefits of auto finance company, many people will think of the United States "September 11" after GM, Ford and other companies to the zero-interest loans. In response, Jia Xinguang that, at present, China Motor Credit was not a zero-interest situation, according to central bank lending rate will remain the unified regulations.

A car dealer that specialized in auto finance company, will promote the development of automobile credit market, thus affecting the entire automobile market.

Foreign auto finance companies have little impact

Jia Xinguang, foreign investment in the auto finance company will significantly impact the existing car credit market. Yafei, Trade and Industry, and other grand auto loan business to a group of dealers have to face even greater pressure.

Jia Xinguang also said that as auto finance companies have a six-month period of examination and approval, so the domestic automobile financial market changes will start next year.

It is learnt that at present the domestic automobile credit There are two main forms, is a commercial bank to directly face the user's "straight off", and the other is from financial institutions through automobile dealers, users and indirectly the face of the "inter - - Off. "

These two forms have certain drawbacks. "Straight off" so that banks increase the risk, and, in the automotive business, the banks lack of professionalism. "Inter-off" Although the banks to reduce credit risk, but consumers and banks do not meet, leading dealers fool Napster ended March with 410,000 consumers in the matter. In addition, automobile financing companies and professional than rely on banks to earn a commission of the dealers, poor risk-control capability, can provide limited services.

In response, the China Banking Regulatory Commission official also said that China's auto consumption credit market and abroad compared to their late start, has been engaged in automobile consumption credit business is mainly commercial banks and auto finance companies of enterprise groups, the existing non - Bank financial institutions such as trust companies, financial leasing companies and other financial companies do not have professional for automobile consumption credit requirements.

"Measures" of the three major changes

And the draft a year ago compared to the "auto finance company management approach" ( "way") from the original six chapters 32 and 42 into the five chapters. Among them, there were three major changes.

A change: reducing barriers to entry

In the draft a year ago, in the access threshold requirements for: in the domestic automotive operations of financial institutions amounted to the minimum registered capital of 500 million yuan. And asked to take part in launching the establishment of financial institutions, auto companies need to meet the most recent year the total assets of not less than 8 billion yuan, profits for three consecutive years, and other conditions.

For such a "high threshold", then many people have raised objections. Some experts believe that the total assets of 8.0 billion, the majority of the domestic car dealer is a high enclosures, which have in fact be excluded, while foreign auto finance companies in this threshold, you can easily Crossed, in fact tantamount to limiting the nation's auto finance industry. And Ford Motor Credit, and other foreign companies that 500 million yuan of registered capital threshold is not low, they believe that China's automobile financing business conducted take some time, the beginning capital funds set too high, but the real volume of business Is not such a big, idle funds will be a significant cost.

Consider the views of all sides, in the October 3 "published by the auto finance company management", lower barriers to entry. Although or a "car finance companies amounted to the minimum registered capital of 500 million yuan," but the setting up of auto finance company's corporate legal persons is considerably lower threshold.

"Rules", the investor should have the condition that "non-financial institutions, the last year of its total assets of not less than 4 billion yuan or the equivalent amount in convertible currencies, annual revenue of not less than 2 billion yuan Or the equivalent amount in convertible currencies; non-bank financial institutions, their registered capital of not less than 300 million yuan or the equivalent amount in convertible currencies. "

From the total assets of 8-4 billion, the threshold drop by half. However, the "measures" also stressed that "to be the main investor in the automotive sector, non-bank financial institutions", and "the same corporate investment may not be more than one auto finance company."

Change 2: The narrow scope of business

Last year's draft and the implementation of the "approach", involving auto finance company's business scope of the provisions are eight, but careful comparison, there were three major differences:

First, the "methods" in the provisions of the automobile financing company can "to provide car loans business" and to delete the draft, "provides car rental business," the terms. This means that the domestic auto finance companies do not like foreign, can be carried out "to rent" such as leasing and related services; second, "to" remove the automobile finance company can "issuance of corporate bonds and commercial paper" The terms of three, the "measures" in the auto finance additional public

Secretary to the "transfer and sale of car loan receivables business."

In addition, the "measures" for loans from automobile dealers for the thinning, regulations, including procurement of vehicles, the exhibition hall construction, spare parts and maintenance equipment and so on from the auto finance company loans. This reduces the risk of funds automobile dealers, and car makers to more closely the relationship.

Change 3: Refinement of the legal responsibility

In the original draft, the penalty provisions rather ambiguous, this time in the "measures", more detailed provisions of a violation of the "measures", will be the punishment.

In these penalties, more important is that the provisions of the "without the China Banking Regulatory Commission approved the establishment of unauthorized or illegal auto finance company engaged in automobile financing business, from the China Banking Regulatory Commission banned according to law; constitute a crime , Shall be held criminally accountable; do not constitute a crime, by the China Banking Regulatory Commission confiscation of illegally acquired, in addition to more than five times the illegal gains 1 times the fine, not the illegal gains from the China Banking Regulatory Commission ordered the correction In addition to more than 100,000 yuan a fine of 500,000 yuan. "

At the same time, also provides that "without the China Banking Regulatory Commission approved, the unauthorized use of the name of 'automobile financing', 'Motor Credit', and so that the words in the automobile financing business, from the China Banking Regulatory Commission ordered its correction, In addition to 1,000 yuan fine. "These provisions, means that now relatively indiscriminate car credit market will be fundamental governance, many of unauthorized cars financial service providers will be banned.

In this regard, China Banking Regulatory Commission staff said that consumers should strengthen risk prevention and self-protection, consciously resist the illegal establishment of institutions for the illegal business of automobile loans, without consciously resist lowering interest rates, scope of business, such as ultra-vicious competition.

Auto finance company what to do

Auto finance company engaged in automobile consumption credit business and provide financial services related to the automotive professional bodies, foreign nearly a hundred years of history. Typically, auto finance companies belonging to the larger Automobile Group, a consumer vehicle to provide consumers with an important component of the service.

"Measures" clearly stipulates that the automobile financing companies in China for car buyers and sellers to provide loans of non-bank financial corporate entities. They have three meanings: First, the auto finance company is a kind of non-bank financial institutions, rather than the general auto enterprises, the second, auto finance company specializing in auto loan business, its business is different from banks and other non-bank financial institutions . Third, their clients identified as the Chinese mainland in the car buyers and sellers. Car buyers, including natural and legal persons and other organizations; auto sales is that specialized in sales of motor vehicles dealers, not including car manufacturers and other forms of sellers.

"Rules", approved by the China Banking Regulatory Commission, auto finance companies can engage in some or all of the following operations: (1) shareholders to accept units in the three-month period of deposit, (2) to provide car loans business, (3 ) Purchase of vehicles for automobile dealers operating loans and equipment loans (including loans and the building of the Exhibition Hall, spare parts and maintenance equipment loans loans, etc.), (4) the transfer and sale of car loan receivables business (5) borrowing from financial institutions; (6) to provide car loans secured; (7) and car financing activities related to the agency business, (8) by the China Banking Regulatory Commission approval of the other credit services, etc..

insurance rates will vary from person to person

reporters yesterday from the Chengdu Branch was informed that has been the attention of all sectors of Che Daixian Querfufan, in the forthcoming National Day after the company resumed. According to reports, after the resumption of the Che Daixian will have new terms, premium rates will "vary from person to person."

It is understood that since August to suspend operations after Judai Xian, the whole companies have been in the business of the data for statistical analysis, while the rate of re-Ju Daixian terms of design, after nearly two months of preparation , The new rate terms have been completed. On the 28th of this month to 29, at all levels of the corporation convened in Chengdu branch held a special meeting, decided to resume after the National Day Auto Financing insurance business.

According to assistant general manager of the Chengdu branch Eurostat Cai Xiang disclosed that the new Che Daixian First, the terms of the design more market-oriented refining, for example, according to the credit status of the insured and the different credit ratings, insurance rates will also be Distinction, the higher the credit rating, the lower the premium rate. Terms of the past, the debt recovery of the provisions more stringent, even if death is insured, the insurance companies will continue to retain the right to recover, but the new provisions, once the policyholder died, the insurance company will give up the right to recover.

In addition, the new Che Daixian supporting the vehicle insurance provisions will become more refined, the insured, the insurance is not only a large range of options, and rates will also be able to enjoy greater concessions.

However, Cai Xiang also stressed that the EU, in the past Ju Daixian was suspended, not insurance provision itself has a huge loophole, mainly internal management and operational procedures on the sale there is a problem. Judai Xian after the resumption of the operation will be more standardized, such as the status of the insured's credit investigation, certainly strict than in the past. He revealed that if all goes well,new Che Daixian at the earliest in the first working day after the launch.

Faced with this huge cake Auto Financing who scare off the insurance companies

Who scare off the insurance companies

Normally, the rapid expansion of space for insurance companies in auto sales is also a huge "cake" and the ability to evade the risk of "banker" or their insurance companies. However, the consumer loan guarantee insurance is the biggest problem facing the social credit system deficiencies. As the domestic personal and corporate financial credit system has not established, the lack of supervision and credit rating of dishonesty to carry out the punishment mechanism, some consumers have a weak concept of credit, the risk of moral hazard have become increasingly prominent, together with the insurance company's own operations and management issues readily available to insurance companies and the "cake" to eat and rush out.

Data show that currently about 30% of private car loan default loan, 10 percent of car loans difficult to recover, the majority of insurance companies operating in Judai Xian on a loss, leading to the termination of business. Although the loans have defaulted on the loan or not there are many reasons for, but have occurred insurance claims, the bulk of regional and wilful default, deliberate fraudster in the majority. Guangzhou as an example, the insurance industry in Guangzhou will first quarter of this year's statistics showed that in Guangzhou the General Insurance Corporation insurance average car loan payment rate is as high as 35.57 percent, the payment rate to individual companies has reached 40 percent of all businesses operating Che Daixian The insurance companies, all in this business into the black hole of loss.

In the current automobile import tariffs and domestic car prices are reduced circumstances, the car as collateral significant decline in the value, down too fast, with fixed annual rate of depreciation, the value of collateral car is likely to Diding debt When a new car loans over the price of vehicles, which may affect the borrower's loan will neglect some of the integrity of the consumers are likely to drill legal loopholes, intentionally to loan-to-car arrived, to give up the repayment.

Increasing competition in non-standard

Consumers must buy insurance on loans rather grievances, but the insurance company has not refused to even high-risk insurance customers. The reason is very simple, loan guarantees and insurance is up for sale, in essence, become the mandatory loans. Insurance companies only to see this bundle can premiums, but forget the policies sold at the same time, all the risk and bought back. This coercive sales practices and insurance companies to guard against the risk of omitting vital nuclear security procedures, easing the risk management. In the shared interests of the time, in fact, has buried the seeds of risk alone Tam, an experienced changes in the market, the risk is concentrated outbreak can be expected that.

In almost all types there are unscrupulous competition on price cuts for business phenomenon, particularly in auto insurance. Che Daixian in fairly prosperous times, though insurance benefits, but the property insurance premium income accounted for the proportion of the total premium is not large. Members Xueben snatch at the business behind the eyes is the new Che Daixian can bring insurance. The root cause of the vicious competition, the insurance company is not re-scale re-effective business philosophy and objectives of the company from top to bottom inconsistent system contradictions.

Che Daixian to be re-auto consumption will reduce the risk

Despite the current Auto Financing Guarantee Insurance has been suspended, but not on behalf of the insurance has been cancelled. Recently, as the first withdrawal from the insurance company, PICC Property Insurance Bixin, deputy general manager of Shanghai branch said that the People's Insurance ongoing internal straighten out, and at the appropriate time to introduce new Auto Financing Guarantee Insurance. He stressed that although some banks that Auto Financing little risk, but in reality, there are still three Auto Financing risks, the need to protect the insurance companies.

Bixin stressed that although some banks that Auto Financing Guarantee Insurance dispensable, but with the quality customer base for the resources being gradually completed, non-quality customer base to become the main bank of the Auto Financing, Insurance Auto Financing it is very necessary The. Although the bank's Auto Financing risks have not focused show, but the Auto Financing insurance has always been a number of risks, which makes the insurance companies and insurance Auto Financing development and expansion of the meaning of existence.

Bixin that the first vehicle depreciation and the difference between the issue of arrears due to the high rate of vehicle depreciation, if the banks will be secured by the vehicle auction, prices could offset arrears » This was followed by the risk of vehicle prices, the WTO, the prices will drop significantly, even if banks raised the first payment ratio, it is difficult to compensate for the impact of price cuts, the risk of this new insurance company must have come to defuse the end, even if the bank Can spend the time to return vehicles seized, spend time auction, the banks, the input is too high. Obviously the insurance company can help the banks to do the following things.

Car loan market Yi Chu Lu Tau Kok three institutions "salivating"

July this year, four major state-owned commercial banks, automobile consumption loans reached a record high of 140.9 billion yuan, the Auto Financing this huge cake was finally revealed, "pointed angle." Faced with such tempting cake, who can not be Movable » Bank of the initiative is lurking risks, car finance companies is the lack of resources unique experience, foreign cars but the strength of financial institutions suffer from policies block Road, in the "car of financial institutions management approach" formally tabled overnight, the Auto Financing of the three main market forces Are looking for their position.

Foreign investment outside the Giants have long coveted

Seven years ago, Ford Motor Credit Company set up representative offices in Beijing, took a foreign automobile financial services institutions to China the first step. Subsequently, Volkswagen and General Motors to follow up the financial services company. "Automobile financial institutions management approach" before the official release, they can only continue to wait outside.

These foreign automotive financial services company can be described as "Big Mac." Ford Motor Credit Company in 2000 total assets of 188 billion U.S. dollars, net income amounted to 1.786 billion U.S. dollars, accounting for Ford Motor Group's total profit of 36 percent. GM financial services company's total assets amounted to 193 billion U.S. dollars, the combined net profit in 2001 amounted to 1.8 billion U.S. dollars, from 1919 has been set up to provide 146 million cars up to more than 10,000 billion dollars in auto loans.

Professional car international financial institutions Auto Financing is the main market, most of the major manufacturers to a wholly owned subsidiary of form. For dealers and their customers with financial products and services, including for new cars, used cars and rental vehicles to provide financing, sales and the provision of grant financing, mortgage financing and working capital financing, many professional automobile financial institutions has also offered Mortgages and insurance.

Compared with banks, financial institutions, professional car innate advantages. And manufacturers of blood relationship so that the automobile financial institutions can provide customers with more professional services; their interest rates means much more flexible, because in addition to the same hope and banks outside their own profit, they also have a more important objective is to promote home The car sales company. The result is that General Motors Corporation in the United States 43 percent and 72 percent of new car dealer inventories, General Motors by financial companies to provide financing. With the bank's "four nets" different, and consolidate customer loyalty and financial institutions are also car business objectives. According to statistics, 72 per cent of Ford Motor Credit Company services customers to buy a Ford again.

Chinese-funded financial companies stumble on their way

From the same manufacturers, the same car in the financial services, China's six car makers and auto finance companies look a bit like financial companies.

Automobile enterprise financial companies was born in 1987, was set up in the first five companies in financial companies, heavy truck and FAW finance companies occupy two seats. 9 years later, the group received financial products to members of the Group of the buyer's credit to the purchase and leasing of permits, while consumer credit business start-up, then wait until the year 2000 were not allowed. As of December 2002, six finance companies operating in only three of the automobile consumption loans, personal loans only over 100 million yuan, to customers and dealers of auto loans only over 700 million yuan.

Financial companies and professional automotive financial institutions, and not just a difference in the forms of organization. Because of funding small scale and lack of experience on consumer credit in the current Auto Financing markets, the financial company's voice is still very weak. Automobile finance companies also have before them a practical obstacle: If formally promulgated the "car of financial institutions management approach" can not be applied to auto finance company, the domestic auto finance companies can only be absorbed within the Group of the member units of the financing deposits, and can only manage A simple buyer's credit, car loans for the first payment can not be less than 30 percent. So many restrictions, how can the professional and financial services institutions Fangshouyibo »

Banks will not give up but the fat

Since 1998, four state-owned commercial banks allowed to offer auto consumption credit business, the bank has been the main force of the absolute Auto Financing business. Commercial banks occupy absolute monopoly position, which is a professional car-based international financial institutions practice seems a little harmony. A foreign automobile financial services company chief Beijing representative office said that the banks do Auto Financing, as "the elephant pick Huasheng Mi," is neither good at, nor professional.

But the banks are not so pessimistic, strong financial strength to strength the other two banks had to seek help. "Automobile financial institutions management approach" (draft) provided for in the total assets of 8.0 billion and 500 million yuan of registered capital, the finance company is not a low threshold. Financial institutions to foreign car business, it must rely on the banks of the RMB loans. Therefore, in the beginning of the automobile financing market liberalization, the banking market dominant position in a short period of time may be maintained. However, with professional automotive financial institutions to gradually rise, and growth of banks will gradually shift from the stage behind the scenes.

The forthcoming "automobile financial institutions management approach", will be re-positioning of forces three key policy. As competition in each of three short-long, highly complementary, in auto finance the initial opening period, the possibility of joint venture or greater, SAIC finance companies and banks both in hand, ready to set up a joint venture with General Motors automobile financial institutions , Zhetang Pathfinder trip is proceeding smoothly, so, the competition is a prelude to cooperation.

Comparison car loans

Today, carefully observe the surrounding colleagues, friends, a considerable number of people belong to "negative Weng" groups. This means that we all more or less burdened with debt, many people today is to spend the money to do the thing tomorrow. Because of "negative Weng," the growth of the contingent of groups, consumer loans seems to have become a fashion. Buy a house loans, car loans has become young people generally accepted forms of consumption.

Xiaolei and Xiao Zhou is a married "80 after the" small husband and wife. Recently they intend to choose the form of loans Mailiang Ju. Which choice is both cost-effective way to loans for Xiaoliang Kou and the actual situation, and Xiao Zhou Xiaolei become the most concern.


Bank loans

Choice of loans, most people will first think of banks. From 2003 personal consumption of car loans to the Huobao 2004 a group of commercial banks have to give up Auto Financing business, the banks experienced a car loan from the climax to the bottom of the turmoil.

Auto Financing Laizhang which seems to be one of the reasons why. Statistics show that in 2006, Beijing Haidian District Court in January to June before the Auto Financing case of 1109, compared to the same period in 2005 and an increase of 530.11 percent.

Well, the current bank car loan business in the situation like this how » A consumer advisory on behalf of the Bank of China and Industrial and Commercial Bank of the relevant staff.

Bank of China Beijing Branch of the Chaoyang Branch of a staff member told reporters that at present the branch can handle car loans, but must do my name in the real estate collateral, if not their current property, it must be from the Bank of China official staff to do Security can not be vehicles for collateral. The first payment for the car, at least 20 per cent of the longest lending period of three years.

And the Bank of China different from the Industrial and Commercial Bank to provide car loans to the mortgage or pledge of the three ways for consumers to choose. Including real estate mortgage, deposit and pledge collateral vehicles. Down payment to pay 20 percent of the car, the longest term loans for five years, the Auto Financing the current interest rate is 6.93 percent. These deposits pledge of not more than 90 percent of the amount of the deposit.

Bank loans to the audit process more complicated, the lender's occupation, income and credit of the requirements are higher. Generally speaking, the state civil servants, teachers and other income more stable occupational groups were relatively easy approval.

Features: high threshold, strict examination and approval procedures cumbersome

Suitable for people: civil servants and other countries have stable income and a certain economic strength of the crowd

Auto finance company

In addition to bank loans, many brands have their own finance companies, to provide automobile loans. FAW, a reporter from Beijing - that the public 4 S stores, car loans consumer choice can be made to the general public financial companies to apply for loans. Priced at 189,800 yuan to the speed Teng 1.8 T-type fashion as an example, 30 percent down payment vehicles, choose the longest four-year term loan, the monthly repayment to be 3,314 yuan. Sales staff told reporters that, compared with the banks, auto finance company at the request of the loans is not very harsh, examination and approval of loan applications faster than the banks. It is understood that in lending rates, the auto finance company lending rate slightly higher than commercial banks. In the process, the choice in the auto finance company loans of consumers do not need to provide security, and bank loans compared to loose a lot.

In addition to the public outside, Toyota, SAIC-GM, Dongfeng Peugeot brands has its own auto finance company, Auto Financing business. It is understood that the different brands of automobile financing companies and the down payment ratio of the longest term loans also vary, the mass amount of financial compensation in the down payment for the car's 30 percent, the maximum loan period of four years, while Toyota down payment requirements The amount of cars to 20 percent, also the longest term loans extended to five years.

The auto finance company would like to choose loans for consumers, we must first choose to be a good model to buy the brand, and then look at whether or not to accept the brand developed by the finance company loan provisions.

Features: relatively relaxed conditions for approval, but the brand restrictions, the interest rate slightly higher

For the crowd: fixed-brand models have been selected for the consumers

Damai Chang car loans

In addition to traditional bank loans and auto loan finance companies, recently, a new model of car loans in Beijing Wuhuan cell vehicle life at birth. By automobile dealers to provide vehicles, cell companies to provide car owners secured loans, the banks to provide loans to break through the traditional mode of Auto Financing. It is learned that China Merchants Bank, Bank of Beijing and the Chinese People's Insurance Company have been stationed in Wuhuan cell vehicle life Square.

A life in cell car in the square to see the stores, the sale of vehicles covering the current market, the main model. Including Audi, Mercedes, BMW and other luxury brands, but also Chery QQ, and other economic models. Consumer loan to buy a car here, the brand of choice for a lot of big, in stores within the arbitrary choice of a car can handle loans.

In the Marketplace, the reporter also learned that a price of 175,800 yuan Pentium 2.3 L luxury, down payment loans for 35,800 yuan, if the choice of loan term of three years, to pay 4,264 yuan a month. At 423,600 yuan BMW 325 i down payment of 127,800 yuan, three-year loan, the monthly repayment 9,015 yuan. Economic vehicle, the price of 78,800 yuan of Swift, the down payment 15,800 yuan, three-year loan, the monthly repayment 1,919 yuan. Under normal circumstances, the cell carried out the first loan to buy a car payment, the proportion is 20 per cent of car loans for three years to five years, In addition, banks also have access to the benchmark rate lower than 10 percent of the concession.

Features: basic unrestricted choice of brands, the interest rate below 10 percent for the banking crowd: young consumers, or the income is not high salaried class consumers

The development of automobile consumption loans

First, the development of the status quo

Automobile consumption credit in the post-war rise of the Western countries, the root of it is: First, the great development of productive forces after the war, consumer demand for consumption lags behind the development of production, consumption and led to the contradiction between supply and demand; Second, the banks More adequate funding, from the production areas of consumer loans extended to the field. So with financial innovation, with automobile consumption loans.
At present, 70 per cent of private vehicles are purchased through loans. In the United States, the proportion of car loans of up to 80 percent. 2000, the United States every 10 new Jia Yongju sold out of nine is achieved through various types of loans. The only new car loan interest income is as high as 20 billion U.S. dollars. The study pointed out that if no car loans, new car sales in the United States to reduce at least 50 percent, about 8 million. China's proportion of this is also very low in 2001 was only 15 percent in 2002 to 25 percent.
China's auto consumption credit it has its full development of reasons. According to foreign experience, when per capita GDP reached 1000-3000 dollars, to enter the country on consumer credit period, the people of the high-grade consumer goods such as auto demand to increase dramatically. In China, many cities per capita GDP has more than 1,000 U.S. dollars, many residents have the ability to purchase. At the same time, the updated concept of consumption but also a large number of urban consumers set our sights on consumer credit. From the banks perspective, our country now with considerable financial assets. In 2002 the balance of savings deposits of residents reached 12 trillion yuan, bank credit funded. From the perspective of manufacturers, the 2002 National Car production and sales were 1062400 and 1058000, an increase of 52.8% and 50%. Automotive production has entered a period of the blowout. Manufacturers and the competition among manufacturers is also becoming increasingly fierce. Three-pronged approach point of view, automobile credit have the full development of reasons.
However, the reality of the situation is like an automobile consumption loans chicken threat, banks and other financial institutions, high input, high risk to consumers, complicated procedures, high costs. The current domestic automobile consumption credit this embarrassing situation because the key lies in the following two points.

Second, the crux of the problem

(1), credit
Consumer credit is the development of social personal credit mechanism for the improvement of the premise. China's credit system is imperfect, is bound to lead to car credit in China difficult. The vast majority of urban and domestic commercial banks have not established their sound personal credit management system, this is undoubtedly to the bank control of credit risk and challenges. The media in Beijing had issued the first batch of automobile consumption credit loan conducted follow-up survey, found that due Laizhang the minority and, in Guangzhou has also focused on policy holders, vendors and collusion between insurance agents, False car loan compensation insurance fraud cases. All of these banks to allow the release of automobile consumption credit cautious again. Moreover, automobile credit have its own characteristics, whether it is the identification and risk control, or the collateral management and disposal, automobile consumption loans than the mortgage to a difficult chip. Banks to control credit risks as far as possible, always artificially raise the "threshold" to develop a very harsh loan conditions, such as to require the borrower to provide adequate security, insurance, but only loaned equivalent to a maximum value of the collateral 70 percent of the funds. At the same time, the current auto consumption credit management practices in lending rates, loan period, and so also have a very stringent restrictions, provided the longest period of repayment rate of not more than five years. This also led to the current auto consumption credit is basically still in the respondents, fewer loans to the situation.

(B) services
If the credit belongs to a long-term problem is a social phenomenon of precipitation in a short period of time was not reversed. So credit services are people within our power. China's automobile and consumer credit falls far short of the quality of services with foreign countries.
First of all, the loan is a single species. And foreign automobile credit of the rich variety of more. To GMAC (General Motors Finance Corporation) as an example, the provision of the auto consumption credit varieties are: 1, EC instalments: the specific method is: the customers and distributors signed an installment agreement, the customer commitment The next payment of part of loans, and pay finance charges. 2, Smartbuy this way allows users often have a new car. The specific method is: the return of a small number of customers monthly vehicle, in the final contract has two options: First, buy the car, by a one-time payment of arrears, and the other is to pay 250 U.S. dollars fee and more than a few kilometers restrictions The charges, returned to the car. 3, Smartlease: this way to apply to the purchase of a car, but in a certain period of time customers need to carpool. Specific methods are: customers can use the expected, select a different kilometers in the number of different pay the rental fee. In addition, GMAC also introduced students purchase plans, and other student groups against the credit varieties in order to cultivate their loyalty to the species. Thus, foreign car finance company business reflected the degree of refinement. In China, to provide automobile consumption credit agencies rate is subject to its control of the central bank, but the face of all customers to pay only a species, to a certain down payment (or zero down payment), the payment of instalments.

Third, the future prospects

Despite the long term, the development of automobile consumption credit is the trend of the times. However, in China's current situation, the development of the difficulties. Sound credit system is not the establishment of day work and in society generally lower credit circumstances, financial institutions operating costs will inevitably remain at a relatively high position, the cost eventually will be passed on to consumers the head. In looking forward to good macro-At the same time, more realistic is to improve our micro-face. Such as improved service quality, and speed up the convergence of international practice, introduced more personalised service and so on. Long Xi Road, Wu Jiang from top to bottom search!

Gong Xinzu points to buy a car

You try not mortgage purchase

Does not mean that consumer loans ahead of consumption, only the design of financial management methods vary from person to person only. First of all it is their own power as a prerequisite, not only the final overdraft or overdraft money also credibility, it can not save. First of all loans to buy a car to be Suanzhang, the amount of 100,000 yuan loan, the loan period of five years, the final mortgage payment of 12 million. If your car costs 1,500 yuan a month with debts, some in the car to pay 3,500 yuan a month, the monthly income of 10,000 yuan not a bad day before. Generally speaking, the changes in income but little more than money to people not to purchase loans.

Layman Do not buy second-hand cars

Although the purchase of second-hand car Gong Xinzu car is a good choice, but Zhuangtai Yun and a similar place. In other words, the source of second-hand car is critical, black cars, and unsolicited Zangche determined not to buy the car.

If a friend or units change, you have to understand this car, the price is reasonable, it can be bought. If you are a layman or buy first car, his car is not familiar with the maintenance, it's best not to buy second-hand cars. In addition, the proposal not to buy down the taxi-out second-hand car. Taking into account the used-car price and the value of the secondary, in general, the community retain a large quantity of used-car prices relatively stable number. Of course, the perfect second-hand car is unlikely to encounter.

The shots when the shots

We must first understand the current situation of the automobile market and car prices, discounts, according to its own economic strength to consider what price shots. You have to remember this one: the higher the price of the car, the greater room for price cuts, the economy cars is no exception.

So, how to choose the right time » You can draw a price reduction under the displacement map, abscissa for the incident, the longitudinal coordinates for the price. Displacement is, the price reduction plans of the more gentle curves. Lower prices suddenly, after Jizou curve tends to slow down the location should be a better time to buy a car. From time to speaking, each of the third quarter, the new model is listed on view, all types of motor vehicles or new Expo promotional activities have become more frequent, the latter part of the third quarter and early fourth quarter, the car is good time.

Displacement enough on the line

Despite a show car than a good, we should adhere to a sensible line of defense: the shots when the shots. In the relative prices of the same circumstances, the choice of vehicle or the economy should focus more on the following aspects of the comparison: the size of displacement; active and passive safety systems, such as the braking system is advanced or not, whether with ABS, Body of the strong degree of security or whether equipped with air bags; fuel consumption indicators, to give due consideration to other configurations.

Gong Xinzu car emissions enough on the line. If every 100 km with more than two liters oil a year to increase the cost of 1,000 yuan, is a small expenditure, almost enough year repair and maintenance costs. Gong Xinzu on, the car should be even more attention to quality. Generally speaking, the technology is mature, at home after a long-term test of a car worth considering. A new car, can not buy, but be careful.

Three car loans vigilance trap

First, all formalities completed, the dealer has filled prices. In the consumer installment procedures completed after full preparations to car dealers are required on the basis of the original car, then pay a certain amount of cash to mention cars. Under such circumstances, the dealers are given a lot of reasons, such as the first payment from the pay-wide cross from the past few days, the prices of the car, or failed to do within the stipulated time, such as loans under various pretexts.

Second, deliberately charging more money to earn ill-gotten gains. Consumer car loans to be paid in addition to the purchase price of the tax, insurance, management fees, mortgage registration fees, home visits and after-sales service fees for the cost, while loans to do just follow the prices of loans on the line. But in actual consumer loans, some non-bank dealers are using vague provisions, consumers do not understand and loans procedures and method of calculation of the complexity, the prices of the costs are also tied up outside in terms of the loan amount.

Third, deceived consumers to sign a blank contract. Contrary to moral integrity of a small number of commercial distributors, drilling consumers lack the knowledge of law loopholes, deceived consumers to sign a blank contract. Assume that consumers do purchase procedures, orally informed the dealers are paid only 30 percent of the first loan payment only 50,000 yuan on OK, and let consumers blank signed the contract. However, in the loan formalities completed, consumers received a credit contract when the loan amount that the price of previous commitments to much higher

Two traps were threatening car loans

Deceive consumers in the blank contract was signed - the "Pinfeng" means additional money to cheat

Morning - in the recent consumer complaints in the car, a car instalments disputes arising from the more prominent. The business sector said yesterday that the consumer should beware of hire-purchase process in the trap.

The business sector that consumers need to beware of the traps There are two main. First, some automobile dealers violation of business ethics, honesty and credit, drilling a small number of consumers lack of legal knowledge, poor self-protection awareness of the loopholes, deceived consumers to sign a blank contract. If Wang to five-year loan to buy a 39,900 yuan-denominated Geely pride of the minibuses. Office car clearance, inform dealers are paid 20% of the first loan payment only 32,000 yuan, and allow a blank Wang signed the contract. A few days later, received a consumer credit contract when found not only the over 5,000 yuan more than loans, the first payment, vehicle insurance, and other additional costs, the sum of loans and management fees after the Jingbi total price of more than 13,000 vehicles Yuan.

Second, some credit for neither the source nor the car used car dealers, "Pinfeng" means to cheat consumers extra money. As consumers hand instalments of a certain Yuyi buy a Jetta car, a car market around the "Pinfeng" competing to lead staff, to "A taxi companies." The car will not eligible to obtain bank credit, do not want to lose a piece of "soon to the mouth of fat meat", consumers will have another credit to qualified "B dealers" in the car for hire Procedures. This, "A taxi companies," one of the only Paopaotuier, from the hand and a "B dealers" net profit more than 1,000 yuan on the commission, a hand for more than 900 yuan spent money wrongly accused.
To address the above issues, industrial and commercial department official said that at present they are actively considering new measures to regulate automobile credit behavior. At the same time, they also remind consumers in general, loans to car buyers cautious, should clarify the responsibilities and obligations after signing the contract to purchase good.

Auto Financing individuals are not completely Raiders

With the gradual lower prices, more and more consumers are beginning to join the ranks of the car, but perhaps one of the many people do not have the ability to one-time payment, with the Bank of automobile consumption loans is certainly not natural Less. What car loans only cost-effective, what procedures need to go with what conditions, each of which is in the form of loans to car buyers through the people's practical problems faced by. Although the major banks in the Auto Financing roughly the same policy, but also great deal of diversity among the author listed here some of these key provisions, consumers can look at carefully to find the best loans for their own way. Documents first

General items:

-- Borrowers identity documents (identity card, residence booklet or other valid residence pieces, etc.) and proof of marital status.
-- Recent utility bills one.
-- Valid proof of income (such as payroll of work permits on behalf of the wage books, or personal tax-conditioning, etc.) or other effective source of repayment that (without selling the stock, funds Jiaoge Dan, outstanding year-end dividends and royalties that the programme Or other currencies to be realised income, etc.).
-- Property that (not necessarily as a necessary collateral, but as a major credit assessment).

Special items:

-- The borrower's spouse or a valid identity card and residence booklet copies of a residence permit (Shanghai Industrial and Commercial Bank).
-- Can see that the current risk control of banks to have details from the start, even on the marital status of those loans are considered as loan conditions, it is not surprising there some time ago "single family" can not be Auto Financing phenomenon.

Credit review

Major banks are loans based on the water and electricity bills, proof of income, comprehensive age, occupation, educational qualifications and past records of loans in areas such as the ability to measure consumer loan.
In addition to the basic premises that, the most important thing is to loan the occupation, that is sustainable and stable income reaches a certain level, and the unit in good standing. In general will ask consumers to purchase vehicles as collateral, but because the prices declined substantially in recent years, some banks will be in the actual operation of real estate collateral requirements. In addition to the traditional mortgage, pledge, security, etc., banks also some credit for the good customer must provide the credit limit.

Special items:

-- Personal credit score in 80 minutes (with) more than the specific loan applicants can apply for automobile consumption credit loans. Specific targets for: the party and government organs Fu Keji (inclusive) and above, the education system of titles and deputy senior staff, the top three hospitals primary care physician, finance, post and telecommunications, communications, insurance, securities, electric power sector working with Fu Keji (inclusive) or the Deputy High Title (with) and above, listed companies and senior management of multinational companies, registered in-service lawyers, accountants, auditors, etc. (Shanghai Agricultural Bank).
-- If the borrowers are engaged in doctors, teachers, civil servants, lawyers and other professional, or belong to banking, securities, insurance and other financial field practitioners, or as the world's top 500 enterprises, listed companies (non-ST, PT) in , The senior management staff, that can be exempted from income, marital status, proof of two loan applications (Shanghai Industrial and Commercial Bank).
-- On a monthly commitment for the amount not exceeding the total household disposable income for 60 percent of disposable income for the family household income minus all the necessary expenses (China Merchants Bank).

Line of credit

General items:

Banks are provided for a maximum loan amount shall not exceed 80 per cent of net prices.

Special items:

-- A pledge of the bank approved the loan application, or banks, insurance companies, jointly and severally liable to provide the guarantee, the amount of borrowing up to the prices of 80 percent to the purchase of vehicles or other real estate collateral for loans, borrowing up to the amount of car The price of 70 percent to third-party applications for loan guarantees (banks, insurance companies, except), the amount of borrowing up to 60 percent of the price (Shanghai Pudong Development Bank).
-- To purchase vehicles for the collateral, the loan ceiling of not more than 80 percent of the car; borrower or a third party to the natural housing, commercial space applications for collateral loans, the maximum amount not exceeding the value of collateral assessment 70% of their personal credit or jointly and severally liable to provide natural way of security guarantees for loans, the maximum loan amount is not more than 200,000 yuan) (Shanghai Agricultural Bank).

Loan period
Usually the shortest of six months, up to five years. Shanghai Industrial and Commercial Bank of the reform of public service vehicles under the automobile consumption loans, the longest period can be relaxed to eight years. Shanghai Agricultural Bank loans to their own vehicles for the longest period of five years, operating vehicle loans for up to three years.
Lending rate six months 4.2 percent, one-year 4.425 percent, 4.575 percent, 3, 5, 4.65%, 4.8% in August (Shanghai Industrial and Commercial Bank).
6, 5.04%, 5.31%, 1, 3, 5.49%, 5-year 5.58% (Shanghai Pudong Development Bank, Shanghai Construction Bank).

Repayment methods

Within the period of one year of loans, the general maturity of the loan in one-time debt service, with the benefit of the Qing. More than a year there are two main loan repayment, the monthly repayment amount of interest payments calculation formula as follows:
Matching the repayment of principal and interest: the interest rate on loans × + interest rates on loans × ÷ [(1 + on interest rates) on the total number of repayment -1].

Matching the repayment of principal: the repayment of loan principal ÷ months + (loan principal - has a total return of the principal amount) × on interest rates.

□ At present, many consumers still are willing to choose such a purchaser to buy a car loan form.

Knowledge of automobile consumption loans

1. What is the automobile consumption loans

Automobile consumption loans for the purchase of real loans Portrait rental car for personal use or operation of the borrower issuing RMB loans, the "self-part, an effective security, earmarking, arranging repayment" principle. Lending should be based on this principle the two sides signed loan contracts in accordance with the law.

2. Automobile consumption loans

Where loans have a fixed residence of local people, with full civil capacity of the natural and the industrial and commercial administrative organs approved the registration rate, the cause of legal persons.

3. Borrower's condition

For automobile consumption loans of natural persons should meet the following conditions:

(1) the full civil capacity of Chinese citizens, in principle, not more than 65 years of age (2) a city resident accounts or valid residence status, have a fixed residence, (3) to have a steady job and regular income, with arranging The ability to repay the loan principal and interest, (4) to provide loans were approved property mortgage, or an effective right to pledge, or a compensatory capacity as the legal person or a third party and repay the loan principal and interest are jointly and severally liable guarantee security, (5) abide by the law , No adverse credit history, (6) holds our distributors signed the purchase agreement or purchase contract, (7) I will open a call Peony credit card or passbook savings and loan and signed consent from the people Peony Card savings passbook or call in the loan principal and interest deduction to the agreement, (8) in loans were provided or are not lower than the initial payment of the purchase.

Automobile consumption loans for the legal person shall meet the following conditions:

(1) The city approved the registration of industrial and commercial administration bodies, seized a qualified corporate (2) such as taxi companies are required to have the city passenger Management Office issued the operating permit, (3) People's Bank of China to be awarded "Loans card" (4) and I will establish credit, or spot-based enterprise credit rating BBB (inclusive) above, arranging debt-servicing ability, (5) I will open a settlement account, can provide Or the lender has no less than the amount of the purchase down payments, (6) will be updated as a vehicle to update the application form, (7) persons authorized to provide loans or mortgage the property rights of pledge or effectively with the Compensation capacity of corporate responsibility and bear the associated debt service guarantee security.

4. The loan amount, duration and interest rates

Line of credit

(1) the loan's approval of an effective right to pledge or banks, insurance companies provide the means guaranteed jointly and severally liable, the maximum loan pledge of no more than 90 percent of face value or 90 percent of the cost of car;

(2) to purchase a vehicle or other property of the person's approval of loan applications for mortgage loans, the loan does not exceed the maximum value of the collateral 70%;

(3) In addition to banks, insurance companies other than third-party applications for guaranteed loans, loan ceiling of not more than 60 percent of the cost of car;

Loan period

The loan period is generally three years (with), a maximum of five years (inclusive), such as using one-time debt service due loans, loans for control in 2001 (inclusive) of

Loan rates

The lending rates in accordance with the People's Bank of China principle, the provisions of the same period in the same stall the implementation of interest rates, the lending rate adjustment case, the loan period of one year (with) the following, the contract rate, interest-bearing sub-loan period in more than one year And implementation of sub-interest-bearing, in the next year on January 1, with the same period in the implementation of the new loan interest rate profile.

Loan to buy a car

What are the advantages of loans to buy a car » Are uneconomical » According to a recent National Bureau of Statistics of China's economic boom monitoring center in Beijing, Shanghai, Guangzhou, Wuhan, Zhengzhou, Chengdu and Xi'an seven residents of the city 2100 survey showed that housing loans to buy a car after becoming the second most appropriate credit The object of consumption, especially on income over 3,000 yuan groups that the vehicle best suited to consumer credit more than the proportion of housing, and become the most suitable for consumer audience.

Bank: investment funds can be saved

Loan to buy a car which can bring benefits to consumers » Bank of China branch in Xiamen City of the professionals that the vehicle relative to real estate, non-value-added potential, if consumers have sufficient funds to buy a car full of, not through savings in the form of loans for investment funds another. The bank financial management staff to consumers out T account. If the purchase of a 150,000 yuan around the family car, the money has Beizu, but through the way car buyers can buy a car loan to the bank loans 120,000 yuan, five-year period. In accordance with the current interest rate of 5.025 ‰, then take a month to the bank loan principal payment of 2538.50 yuan, the average interest paid on 306.526 yuan, 5-year total to banks to pay interest 18391.56 yuan, the average annual payment of interest 3678.31 yuan. If the savings of 120,000 yuan will be invested businesses, just one percent monthly rate of return, annualized yield on the more than 14,400 yuan. If the two stock market investment, as long as the board is a limit of 10% of revenue. Therefore, as long as investment income in more than 10 percent, far better than the investment income on interest payments.

Distributor: 50,000 Following is no need

Some of the loans to buy a car dealer is more specific understanding. Xiamen Fu Tong car trading company of Wang You think, in the Xiamen area, the per capita income level is relatively high, if the purchase of 30,000 to 50,000 yuan on the car loan is not necessary, otherwise, to pay an interest margin and Fees for lawyers. Shenlong Automobile Xiamen-yuan, sales service companies in talking about this issue Mr Cheng said: mortgage to buy a car will definitely be higher than the cost of a one-time payment, in addition to interest margin, the cost of insurance to more, But if you one-time payment of the loan to buy a car for half cash, half for investment, not only this car, but also the value of assets, cost-effective or not at a glance.

Consumer: Can simple procedures,

Most provisions of the current bank loan to buy a car must purchase a designated car dealers and banks authorized to provide the property mortgage, pledge or third party guarantees. Personal automobile consumption loans is the age of 3-5 years, the first phase of automobile consumption loans payment shall not be less than the purchase price of vehicles to 30%. Some consumers that if so much property, or to deposit collateral, the bank also find you do, not directly to the purchaser. In addition, the down payment amount, loans of short duration, the monthly principal and interest to be repaid too high, many people Juezhe loans do not mind at ease to buy a car, they generally think that loans can not be the price too expensive than the one-time payment. And intends to loan to buy a car were also generally felt relatively cumbersome procedure: it is necessary to provide identity cards and household registration shows that employment and income proof, and also accept credit assessment survey to provide the necessary guarantees that. Not time-consuming, but also to an additional cost. Bank told reporters that since the establishment of no personal credit system, the banks of the individual creditworthiness of a lack of understanding of the way, personal credit assessment difficult. To prevent and reduce risk, but to guarantee and strengthen examination and approval procedures for individuals to provide adequate materials, and other measures.

Loan to buy a car steps:

On car loans to credit procedures, individual banks have their own requirements, but the basic procedures for nothing more than the following steps:

First, selected models, and car dealers signed the contract.

Second, fill out the application form automobile consumption loans and provide the relevant information.

Third, dealers submitted to the banks after passing the first instance.

Fourth, banks and loan-to-admissible before the survey.

5, for loans, mortgages, notaries, and other procedures.

6, according to distributor agreement for vehicle insurance, and home delivery vehicles and other procedures.

7, the loans stipulated in the contract, the customer directly to the banks arranging the return of loan principal and interest.

In more than seven steps, the real "tripwire" is the second step and the fifth step, in these two steps involved in the sector up, the most cumbersome procedures, the actual operation more difficult.

The most reasonable terms of car loans

There are many car loan calculator can allow you to determine your monthly payment or even your car purchase price.

"Purchase or lease" a car loan calculator is also available. This calculator is to compare the amount and allows you to see what the value is better for you.

The auto loan calculator is that it is not a limited market. This is because your actual reimbursement may change based on your own situation.

The characteristics of a car loan calculator is generally similar. Most car loan calculator in the amount of loans you want to allow your input. After that, you can choose how many months you want to pay for it. Finally, you can click on buttons and a car loan calculator to see how it worked out how much you will lead the company to pay loans. This, of course, will depend on how many months you choose, and what percentage of their year (April) yes.

Auto loan calculator on the Internet can be provided as being good at statements region. It is immediately available. 8 x10 all in a print-out a few scenes of loans, allow you to make a decision on your car loan. You can also find a car loan calculator in the Internet and E-LOAN an automatic capital financing. If you have a PocketPC type of PDA, you can download some version of the car loan calculator for the PDA. You can use the statements and automobile dealers online car loan rate of car loan rates. New car finance has never been easy on you.

Here the general auto loan calculator and see what kind of work for your needs the best car loans.

Free car loan calculator - tons of free car loan calculator, especially in the Internet. Remember most of the calculator was just worked out what your ideal monthly payments should be and not the market. A free car loan calculator link in the network.

New car loan calculator - the new car loan calculator to help you develop your ideal monthly payments. Many new car loan calculator can be used for a variety of new semi-use as car loans. Use this calculator, you can usually enter your own interest rate for your loan.

Online car loan calculator - you can use, and you will find links to online car loan calculator may want to help you find the best online transactions of a considerable number of car loans calculator there.

Why is the car loan calculator useful » You will need to calculate your car loan payments and for car and truck dealers to find the cost. You do not have a car loan calculator from the use of the knowledge gained, you may miss a lot. Banks and loan companies to make use of your lack of research.

When you try to reach in the number of car you can afford to buy a car loan calculator, do not think that under the monthly car payment or the total price. Monthly payment, we have seen, can be operated easily and are two methods of other costs associated with the vehicle, such as insurance, fuel and maintenance. True understanding of whether you can afford cars, you must take into account all these factors. "How many cars could you buy» "will help you arrive at an approximation of the calculator. They operate with a car loan calculator to a similar manner.

You actually start shopping in your own car, still have to do more. To decide whether you should buy new or by the former owner of a car, and whether you would be better to buy or rent. There are pros and cons to both problems. In any case, a car loan calculator may speed up your decision.

China Banking Regulatory Commission issued a car loan risk tips

In recent days, according to the China Banking Regulatory Commission issued "on the China Banking Regulatory Commission Office on a car loan risk prompted the notice", requiring banks to enhance the loan-to-car loans before the survey includes information on borrowers to apply for the examination, the audit focused on borrowers The degree of credibility, proof of income, the repayment ability of the authenticity. "China Quality"

Automobile loans and to new tactics: A year later can be returned to the car dealer

In the current relative quiet of the car loan market, the recent FAW Toyota Motor Sales in the Auto Financing Company introduced new ways of marketing to attract consumers. This new type of vehicle salvage the set of loan products is that consumers 20 percent down payment, the maximum balance due 60 percent, freedom of choice, for the quarter or for the way in the car after one year will pay the balance payment due or may be Maintaining and increasing the vehicle in accordance with the second-hand cars sold to the appropriate stores.
Toyota, FAW and Shanghai Bao Xu Min-store sales manager when interviewed by reporters that it had received a notice related manufacturers, in the event starting on June 1 formally implemented, the payment method freedom, and one year after the car can be Sold to the businessmen, the two major highlight of the current response makes the product better, a lot of customers come to the consultation.
According to reports, residuals set of loan products has two main advantages:
First, car buyers low down payment, set a high proportion of the residual value;
Second, the value of a security vehicle. In normal driving conditions, consumer car after one year, in accordance with the wishes of one-time payment of the balance payment due loans or apply for an extension of the period, or by the FAW Toyota stores in a second-hand car assessment, repurchase;
The industry believes that the FAW Toyota model in such measures, combined with and Cars of automobile consumption of a variety of favorable characteristics, for consumers, not only reduced the car to economic pressures, will also be a new car Second-hand car sales and recovery bundled together, this approach also guarantees the value of the vehicle.
According to information released by the commercial banks, financial institutions 2007 National consumer credit balance of 3.2783 trillion yuan, of which only 110.7 billion yuan car loans, housing loans of less than 3 percent. Xinhua letter's latest statistics show that in 2007 the domestic car buyers who choose the car loan ratio was only 6.6% -7%, the National Co-Passenger information will even think that this ratio should be even lower.

What is the mortgage loans

What is the mortgage loans »
"Mortgage" refers to the popular sense of commercial housing purchased by mortgage loans. It refers to mortgage the property will be purchased in the mortgage property rights transfer beneficiaries (banks) as a repayment guarantee, repayment, the mortgage will be the beneficiaries of property rights transfer the property to the mortgage people. Specifically, the loan is purchased by the buyers to the property as collateral to obtain loans from banks, mortgage buyers in accordance with the provisions of the contract in return for payment to the way banks and the banks by certain interest rate The charging of interest. If the loan default, the banks have the right to go to housing.

Housing mortgage loans at risk

U.S. sub to the global financial market turmoil has sounded the alarm risk. Construction Bank Research Department has released the report pointed out that while China's is not typical of the sub-mortgage market, but China's housing mortgage loans in the same risk, and is gradually into the high risk of default.

Construction Bank report cited a group of data, we should pay great attention: workers in the construction real estate loans in the three major lines of individual housing loans by the end of 2005 the 1012723000000 the end of 2006 rose to 1.176066 trillion. Individual housing by the end of 2005 non-performing loans of 18.442 billion up to the end of 2006 of 19.241 billion. After the author, the 2005 non-performing rate of individual housing loans was 1.82 percent in 2006 to 1.636 percent. Never yield, far lower than other loans, and in 2006 than 2005 non-performing rate is also available in a downward trend. It is precisely because of this factor, all commercial banks regarded as personal housing loans to deal with high-quality loans, to relax the conditions, scheduling of credit funds, a large number of loans. From international experience, individual housing loans of exposure period is usually 3-8 years. China's commercial banks due to the real estate particularly in urban housing prices rose the impact of this blow-out type of mortgage a few years, increased rapidly. Once the real estate market changes, does not rule out a number of years after the outbreak of risk concentration. Apart from this factor, leading to personal loans in a number of other risk factors also cause for concern.

At present prices climbed steadily, community, including commercial banks, universal form of long-term rise in house prices expected to produce the individual housing loans almost no risk of thinking. In this ideological domination, the United States has led to sub-loan crisis occurred in a very similar reasons: commercial banks that are unable to return a loan principal and interest of loans, the banks to recover the auction house can pay principal and interest. U.S. loan companies did not expect that the United States, all sectors of the prevailing prices up not only the expected broken down, the property market was a sharp diving, housing prices can not cover loan principal and interest. China's housing prices down if a situation would not exclude the possibility of similar cases. This must attach great importance.

There is another point with the United States, loan-to-the reasons for the crisis also very similar. That is, repeatedly raising interest rates, greatly increased the financial burden of debt payments, resulting in loss of ability to repay borrowers, the loss of confidence in repayment. Since 2004, successive U.S. interest rate increase 17 times, the burden of heavy debt payments can be imagined. China on September 14 after the latest interest rate increase as in October 2004 has been less than three years in the first nine interest rate hike, this year is the fifth since the interest rate increase. Although not every time the rate of increase, but loans for people who buy a house, for several times the cumulative interest rate increase, from quantitative change and has produced some qualitative change. It was estimated that this interest rate increase after a two qualitative change: First of all, 24 of the loan, the interest on the principal amount over the first time. Second, the first interest payment than the rent. If raising interest rates again this year, borrowers will increasingly heavy burden. Once the borrower's income situation of instability, most likely a breach of contract, resulting in credit risk.

More than two sub-loan crisis with the United States are surprisingly similar reasons, if coupled with China's housing mortgage loans in the mortgage and false fail to strictly guard the pass makes some do not meet the conditions of the loan borrowers are potential risks in China's housing mortgage loans are Step by step into the breach high-risk period is not alarmist talk. While not typical of China's secondary mortgage market, individual housing loans accounted for the entire loan ratio is not large, non-performing rate is not high, similar to the United States in sub-loan crisis is unlikely, however, the risk in lending itself It is not possible.

Therefore, the secondary mortgage loan to the United States a lesson from the crisis in the real estate market in a rapid development trend, the real estate market risks increase the cohesion circumstances, we must strengthen supervision of financial institutions to speed up and improve the internal control mechanism, and guide rational management of commercial banks, There must not be blindly release of personal housing mortgage loans phenomenon.

Encyclopedia of mortgage loans

Mortgage loan mortgage loan

Mortgage loans to home buyers is the purchase of housing mortgages to buy houses by their real estate enterprises to provide short-term security of real estate enterprises to provide short-term security of the individual housing loan business.

Mortgage loans in the people most concerned about the conditions and procedures, first of all mortgage loans need for the information provided:

1, the applicant and spouse ID card, accounts and copies of the original three (and their spouses if the applicant does not belong to the same account of the need to attach a marriage certificate).

2, the original purchase agreement.

3, housing prices 30 percent or more advances and the original copy of the receipt 1.

4, the applicant household income documentary and proof of the assets, including payroll, personal income tax alone, the unit written proof of income, such as bank certificates of deposit.

5, the developer of an account receivable.

Its loan procedures and the process is like this.

First of all, go to banks to understand the relevant situation. And for related Daiqi the above information for individual housing loans. Followed by banks for your review and determine line of credit. Next on the contract for the borrower and the bank insurance agents. Mortgages for property rights registration and notarization. Is the last remaining bank loans, loans were repaid and the monthly repayment of principal and interest after cancellation of registration.

After the above procedures and processes, you can get a new mortgage the house. Through the press above the mortgage you should have a better understanding, and understanding the related issues for the loans, mortgage hope that the key to open more of you, me, the door to his new home.

How to handle the buyers of mortgage loans »

Mortgage in the United States, Japan, Singapore, Hong Kong and other places is quite common, the developed countries and regions have become widely popular form of a financing purchasers. In China, only in recent years, mortgage Shanghai, Beijing, Shenzhen and other cities was launched. In the real estate market provided the event of its mortgage sales performance is superior to other properties. For buyers

Mortgage the specific procedures are as follows:

(1) choice of real estate

Buyers who wish to obtain mortgage services, the choice of property in this area should focus on understanding the content. Buyers in the ad or through sales of some items that could be introduced for mortgage loans, developers should also be further confirmation of the real estate development and construction of the bank's support to ensure the smooth progress of mortgage loans made.

(2) applications for mortgage loans

Buyers to confirm their choice in the real estate mortgage banks receive support, to the bank or banks designated by law firm understanding of access to bank on the purchase of mortgage loans to support the requirements, preparation of legal documents, choosing "mortgage loan applications" .

(3) signed purchase contracts

Bank received buyers mortgage applications submitted by the relevant legal documents, the review confirmed that buyers of mortgage loans in line with the conditions, to inform the buyers agreed to loan or mortgage loans undertaking. Buyers can be and the developers or their agents sign a "pre-sale of commercial housing, the sales contract."

(4) signed mortgage contracts

The buyers signed purchase contracts, and made to pay Fangkuan certificate, a bank under the relevant legal documents and the developers and banks sign a "mortgage mortgage contract" clearly the amount of mortgage loans, period, interest rates, repayment Means and other rights and obligations.

(5) for mortgage registration, insurance

Buyers, developers and banks have "collateral mortgage loan contracts" and contracts to purchase real estate management departments for mortgage registration filing. The Qifang, after the completion of the mortgage should be registered for change. Under normal circumstances, due to relatively long period of mortgage loans, the banks to prevent loan risks for buyers for Life, property insurance. Buyers to purchase insurance, banks should be specified as the first beneficiary of the loan period shall not discharge interruption insurance, the insurance amount not less than the total value of collateral. In principal and interest of loans repaid, the insurance policy by the Bank of Directors.

(6) open a special account repayment

The signing of buyers "mortgage mortgage contract", according to the contract, the bank designated financial institutions to open special repayment accounts, and signed power of attorney, authorized the agency from the accounts of banks and mortgage payments relating to contracts The loan principal and interest and arrears. Bank confirmed buyers with mortgage loans, to "mortgage mortgage contract" a contractual obligation. And for related formalities, the one-time loans are included in the development of open bank accounts of banking supervision, as the purchase of property buyers

Buy a house or pay the whole of the mortgage »

Select a house, then the problems encountered is that of payment. The purchases were not all able to come up with all Fangkuan, so there will be a loan buy a house, buy a house or mortgage is to spend tomorrow's money today, round dreams.

Pay all of the three major advantages

1. Pay the full cost of

Although the first to pay more money, but the total number of purchases, can waive various fees, such as bank interest. But also because of a one-time payment, and developers can bargain purchase of further savings.

2. No debt Yi Shenqing

Pay the full purchase of the future without economic pressure, as buyers can no longer have to worry about Fangkuan, calmly financial plan for the future. But also save time, do not have any credit certification, today completed the matter today.

3. Resold easily

From an investment point of view, pay the full purchase of the house to facilitate the sale, not bound by bank loans, once the prices rise, cash changed hands fast, easy exit. Even if do not want to sell, to the economic difficulties, but also to the banks to make housing mortgages.

To pay the whole of the two shortcomings

1. Funds pressure

If it is not short of liquidity, after all, one-time great investment, consumers may affect other investment projects.

2. Investment risks

Unless its a considerable understanding of real estate projects, including construction quality, technical and financial strength of developers, home buyers need to have considerable technical professional standards, ordinary people can not achieve.

The three major advantages of mortgage

1. Spend tomorrow's money today, round dreams

Mortgage lending is, that is, to borrow from banks, buying houses do not have to immediately spend a lot of money can buy their own homes, so the first mortgage purchase is Qianshao advantages can also buy a house.

2. The limited funds for a number of investment

From an investment point of view, mortgage buyers can be separated from investment funds, loans buy a house rental, to raise loan-to-rent, and then investment, such flexible use of funds.

3. Gatekeeper bank for you

Office of the borrower to borrow money from banks, real estate projects naturally concerned about the pros and cons of the banks, the banks in addition to the review your own, you will review developers, for you to ensure that high natural insurance.

Mortgage shortcomings

1. Carrying debt

As shortcomings, the first is psychological pressure, because the Chinese people's traditional habit of not Yinchimaoliang, stress savings, loans for the purchase of the conservative-type people inappropriate. And in fact, people buying houses is the heavy debt burden, regardless of any person is not easy.

2. Not easy to convert to cash quickly

Because of their real estate mortgage loans, the re-sale of the difficulties is not conducive to home buyers to withdraw from the market.

Some on the mortgage note

Some on the mortgage note
First, apply for loans not to use the former Provident Fund.
If the borrower before the loan from provident fund balance to cover the storage Fangkuan, provident fund account of provident fund balance is zero, this would amount to zero provident fund loans, which means that applications will be less than provident fund loans.
Second, the borrower in the first year will not advance repayment.
Provident fund loans in accordance with the relevant provisions of the early repayment in the loan should be made after the expiration of one year, and you should return the amount over six months of payments.
Third, the loan should not forget there are difficulties to find close to the banks.
When the borrowing period of solvency in the fall, the loan problems, not their own Yingcheng. ICBC customers to the bank to extend the deadline for applications for loans, the banks are true, and no arrears should also have loan principal, interest, the bank will extend the borrowing period for admissibility.
Fourth, after the rental housing loans should not forget this obligation.
When the loan has been secured rental housing, must be pledged in writing to the lessee of the facts.
5, the loan contract and not lost IOU.
Apply for mortgage loans, the bank signed loan contracts and IOU are important legal documents. As the loan period of up to a maximum of 30 years, as borrowers, should be the safekeeping of your contract and the IOU.

Apply for housing loans of the banking procedures

A housing development loans for the procedures and related matters

Real estate development enterprises for housing development loans could only be used for ordinary housing construction, and not for luxury apartments, villas building. When applying for loans in:
(1) to obtain loans of land use rights;
(2) loan projects have been incorporated into national or local housing construction development plan, the project document integrity, real and effective;
(3) loan projects function in line with the declared purposes, and be able to effectively meet the needs of the local housing market;
(4) loan project budget and construction plans in line with the state and local governments of the relevant provisions;
(5) loan projects of the project budget sufficient;
(6) the lender plans to invest the funds owned by loans provided not less than the ratio is usually 25 percent, and in the use of bank loans to investment projects before construction.

Real estate development enterprises to the banks for real estate development loans, to provide:
(1) loan applications;
(2) copies of business licenses, inspection of the documentation and copies of tax registration documents;
(3) the legal representative or his authorized representative of the documents;
(4) capital verification report;
(5) on the annual accounting statements, loan applications a month before the accounting statements;
(6) project feasibility study, project construction, implementation and development of the document or project;
(7) real estate development enterprises Certifications;
(8) to provide third-party guarantor of security issued by the letter of intent, copies of business licenses, inspection registration documents and tax registration certificate copy of the guarantor of the financial statements and other relevant information;
(9) collateral (quality of) inventory and property documents and have agreed to dispose of collateral (pledge) proof.

The borrower's loan application, the bank based on the national industrial policies, credit policies and the relevant provisions of loans to be reviewed. If a qualified borrower, the borrower must accept the bank's loan-to-further investigation before, its contents include:
(1) the borrower's behavior, including their qualifications, work, leadership, moral character, repayment will;
(2) the borrower's credibility, the main survey the original debt if the borrower can repay on time, whether bad bank records, etc.;
(3) the borrower's solvency, that is investigating whether the borrower has the ability to repay the loan principal and interest, the repayment source of funding is stable, whether as scheduled debt service;
(4) the profitability of the borrower and the borrower the expected profitability of their own;
(5) loan project parties, including the preparatory work for development projects, the implementation of development plans, urban planning, design, construction sites has been approved, whether the conditions have started, whether to permit construction, and a source of project funding Implementation and development projects, such as pre-sale situation;
(6) guarantor of security capabilities, the main guarantor of the investigation have secured qualification, the guarantor creditworthiness of the borrower and whether it is for other people to provide the guarantees;
(7) collateral (pledge) for compliance, have been set up collateral (the pledge). If the borrower through the banks, the loan conditions, the Bank had reported approval level by level, upon approval, will be able to sign a "loan contract." If the loan is secured by a third party legal persons, must sign a "guarantee contract" if the loan is secured by real estate mortgages, sign a "security contracts" if the borrower is pledged as collateral securities, such as the To sign a "pledge of the contract." Loan payment, if the borrower uses the use of the contract were not borrow or not the contract limit of regular pay off loans, borrowers are subject to the Bank of punishment. If a borrower to the lending bank to provide false or hiding important facts and the balance sheet, income statement and other information is not truthful to the loans provided by banks to open accounts, and deposit account balances and other information in accordance with provisions of loan contracts for the use of loans, as pointed out Is not correct; refused to accept the lending bank to its credit funds to investigate aware of the lending bank can recover part or all of advance loans, the borrower has yet to stop paying the borrower. Before the expiration of the loan, if not all borrowers repaid loans on time, we should take the initiative to propose extension of the application. If a bank audit, needed the extension, the banks and borrowers and to sponsor (or mortgage, or out of) sign a "phased repayment agreement" as the original "loan contract," the annex. Loans extended only once, short-term loans shall not exceed yuan loans extended period, the medium-term loans extended period of no more than half of the original loan. If the loan period extended with the original loan period to reach a new level of interest rates period, extended from the date of loan interest by the new deadline for resumption of the interest rate level. If the borrower before the expiration of the loan applications by extension, although the proposed loan or extension of the application, but not approved by the banks, loans from the day following the date of maturity, the banks according to the daily rate of 0.4 ‰ to Faxi, until Principal and interest recovery loans.

The loans for housing construction procedures and related matters

Non-enterprise development loans for housing construction and building trade unions for the sale of the contents of a housing loan in fixed assets. The development of enterprise applications for non-housing construction loans in addition to the development of reserves required of enterprises applying for loans (1) to (5) and (8) to (9), seven conditions, they also need to have the approval of the departments in charge of housing construction plan and Self-financing to achieve the required ratio, the general in more than 60 percent. By bank survey to assess if the housing construction loans in line with the relevant requirements, after approval, will be signed with the various housing loan contract, get housing construction loans. Non-development of enterprises access to housing construction loan procedures and enterprise access to housing development loans in process is basically the same.

Three applications for housing construction loans policy procedures and related matters

If the development of enterprise applications for policy development or construction of housing loans, housing funds required to make an application management centre, housing fund management center included in the housing finance scheme, and based on the housing fund management center housing units commissioned loan approach, in accordance with the housing fund management center Housing units commissioned loan approval procedures for housing construction loans. Policy of housing construction loans based on the amount of the construction unit of the demand for funds from the housing fund management center arrangements. Loan period is generally one to three years, the implementation of the People's Bank lending rate under the fixed asset lending rates. Quarterly income statements loans, overdue loans and loans based on the People's Bank of embezzlement, respectively, in accordance with the interest rate on the interest rate 0.4 ‰ and 0.60.4 ‰ Faxi.

Units in the building of housing policy for loans, housing fund management center to provide two loan applications, filled out a "unit housing loan application forms" one-third, to submit copies of business licenses, the recent accounting statements, the Planning Commission, the project investment plan And city and district planning and construction of new residential sector issued by the "construction project planning permits" and "construction work permits" (a housing project if the local matching funds loan, to provide the city Planning Commission and other departments jointly issued the housing project Investment plans, and the city issued by the home run, "a well-off residential development and construction of single-mandate", "well-off residential waiver of taxes and fees that" the project document); new residential floor plan or the plan; borrowing units and the security units of the security agreement signed ; Security unit recent accounting statements; borrowing units and the bank signed by the mortgage agreement; mortgage loan units of the security assessment report, and other information. Housing fund management center after the first instance that the loan conditions, began an assessment commissioned by the lending bank audit, and then by the housing fund management center approval, upon approval, will be commissioned by the bank loans specific procedures.

Practical Manual purchase - a house purchase process

Decided to buy a house, it is a happy thing. However, decided to buy the determination of a satisfactory housing, is not an easy process. After all, to any person speaking, the purchase of housing, are in the life of a great thing. Ordinary people may be poor their entire life savings, but also in life for many years must also struggle bank loans.

Then, buy a house, should pay attention to what matter »how many of the current real estate projects in Beijing were selected to suit their own house?»

More importantly, is not standardized in the real estate market, how to guard against fraud, to buy a house truly become a matter of pleasure »

Housing because of the huge amount of the purchase it should be a more professional conduct. In some developed countries, there are more mature and professional housing manager for individual buyers can provide professional advice and services, personal purchases has in place a more mature model laws and regulations and operational procedures are more standardized, relatively speaking , Personal purchases more relaxed. However, at this stage of our individual purchase of houses also failed to act so easily, because Beijing's real estate market is a developing gradually mature and emerging industries, the ordinary people to buy their own housing in recent years is only the beginning of a novelty, the Housing The real estate market has not developed a professional individual buyers for the housing agent, thus, each home buyers to buy their own point of common sense.

Purchases the first step: a clear purpose of buying houses

-- Countless everywhere ask ourselves: Why should we buy a house »

-- Countless everywhere ask ourselves: what kind of need in the end the house »

Ready to buy the funds - how much money you're ready to buy a house »

Certainly there is a funding support, it allows you to buy a house made the decision. The amount of money, your decision to buy a house in the all important acts. 200,000 yuan, 500,000 yuan, or 800,000 yuan, 100 million, or even more, the different preparations of these funds, direct impact on the property you want to buy quality.

More importantly, is not standardized in the real estate market, how to guard against fraud, to buy a house truly become a matter of pleasure »

Housing because of the huge amount of the purchase it should be a more professional conduct. In some developed countries, there are more mature and professional housing manager for individual buyers can provide professional advice and services, personal purchases has in place a more mature model laws and regulations and operational procedures are more standardized, relatively speaking , Personal purchases more relaxed. However, at this stage of our individual purchase of houses also failed to act so easily, because Beijing's real estate market is a developing gradually mature and emerging industries, the ordinary people to buy their own housing in recent years is only the beginning of a novelty, the Housing The real estate market has not developed a professional individual buyers for the housing agent, thus, each home buyers to buy their own point of common sense.

Practical Manual purchase - the purchase process

In the sales offices to see what

Sales of Ruhuamiaoyu and can not become the legal basis for house purchase, in order to reduce the purchase dispute, you must ask for a sales in the sales offices to provide the following information, such information as a formal required by the developers, you must carefully one by one Investigation.
First, the business license
The formal business of real estate to the industrial and commercial administration departments will be registered, be sure before you purchase the business license for this enterprise is legitimate.

Second, enterprises Qualification
Development of the Ministry of Construction will be divided into three business aptitude, the best one. Are based mainly on the strength of corporate development. Qualification enterprises represent the development of the credibility of enterprises and market performance. Click for sales agencies credit files.

Third, in time
Whether to stay on schedule, whether in a building can be completed acceptance form filing, a housing area measured technical report of the quality assurance of residential, residential Manual.

4, pre-conditions
Check-in, water, electricity, telephone, closed-circuit monitoring system to normal use, it can guarantee gas, cable television, broadband network using the normal home, and the district clean, cleaning, greening, sewage, lighting, and other private Xin Baoxiang Or whether the utilities normal normal use.

5, parking spaces
Area total number of parking spaces, parking spaces to the ground or underground, it can be guaranteed a parking space per household. Parking fees, it can be sold.