Auto loans

Auto loan management

Chapter I General Provisions

The first specification for the car loan business management, to guard against the risk of car loans, car loans to promote the healthy development of the business, according to the "People's Bank of China People's Republic of China law," and "People's Republic of China Commercial Bank Law" and "People's Republic of China Banking Regulatory Act "Law, enacted in this way.
The second term car loan is the lender to the borrower's payment for the purchase of motor vehicles (including second-hand car) loan, including the personal car loans, car dealer car loans and loans institutions.
The third term refers to the lender in the territory of the People's Republic of China in accordance with the law established by the China Banking Regulatory Commission sent its approval to conduct RMB business loans of commercial banks, urban and rural credit cooperatives and allowed to operate a car loan business Non-bank financial institutions.
Article IV The term refers to the car through the car loan borrowers to purchase, are non-profit car; vehicle is the borrower through the purchase of a car loan, for-profit car; is the second-hand car from the End for motor vehicle registration requirements to the end-of-life period a year before the change of ownership and transfer procedures in accordance with the law for the car.
Article V car loan interest rates announced by the People's Bank of China in accordance with the provisions of the loan interest rate, terms, interest rates knot method for borrowers and lenders to determine consensus.
Article VI of the car loan term (including extension) should not exceed 5 years, including used-car loan period (including extension) should not exceed 3 years, the car dealer loan period should not exceed 1 year.
Article VII of both lenders and borrowers should follow the equality, voluntary, honest, trustworthy.

The second chapter of personal car loans

The term of Article VIII of the personal car loans, is the personal loan to the borrower's payment for the purchase of auto loans.
Article 9 of the borrower to apply for personal car loans, at the same time should meet the following conditions:
(A) of the People's Republic of China citizens or territory of the People's Republic of China to live more than a year in a row (including one year) of Hong Kong, Macao and Taiwan residents and foreigners;
(B) have a valid proof of identity, and a fixed address in detail and with full civil capacity;
(C) a stable legal income sufficient to repay the loan principal and interest or the legal personal assets;
(D) a good personal credit;
(E) of the way provisions to pay the down payment;
(F) requests for loans of other terms.
Article X of the loans were issued personal car loans, should be integrated into account the following factors to determine the loan amount, duration, interest rates and debt servicing of loans, and so on the way:
(A) loans on the borrower's credit rating situation;
(B) loan guarantees situation;
(C) the purchase of motor vehicles and the use of performance;
(D) the development of the automotive industry and automotive market demand and supply.
Article 11 of the lender should the borrower to establish credit files. Borrower credit files should contain the following:
(A) the borrower name, address, valid identification and effective manner;
(B) the borrower's credit status and income level of proof;
(C) the purchase agreement to buy cars, car model, engine, frame, with the price of car use;
(D) of the loan amount, duration, interest rates, repayment methods and security situation;
(E) collection record Loan;
(Vi) to guard against the risk of lending requirements and other information.
Article XII of the lender paid personal vehicle loans, with the exception of the way provisions of Article 11, should the borrower credit files of the commercial vehicle operators to increase the annual inspection certificate, vehicle depreciation, insurance and so on the situation.

Chapter III of the dealer for a car loan

Article XIII The term dealer for a car loan, the lender is the car to the dealer paid for the purchase of vehicles and (or) parts of the loan.
Article XIV of the borrower to apply for a car loan dealers, it should be at the same time with the following conditions:
(A) with industrial and commercial administrative department in charge of the issuance of corporate business license and proof of inspection;
(B) car manufacturers have issued proof of auto sales agent;
(C) of assets and liabilities not rates of more than 80%;
(D) with the stability of legitimate income sufficient to repay the loan principal and interest or the legitimate assets;
(E) distributors, dealers and distributors senior management of loan applications accepted on behalf of clients without a material breach or bad credit records;
(F) requests for loans of other terms.
Article 15th of each lender should the borrower to establish an independent distributor of credit files, and updated in a timely manner. Dealer credit files should contain the following:
(A) of the dealer's name, business address and legal representative;
(B) copies of all types of business licenses;
(C) dealers to buy insurance, commercial credit and financial situation;
(D) of the People's Bank of China issued the credit card ();
(E) the purchase of motor vehicles and parts and components of the model, price and use;
(F) status of loan guarantees;
(G) to guard against the risk of loans and other required information.
The 16th article of the lender and the dealer procurement of vehicles (or) parts of the loan amount of the loan should be a period of time, the average dealer inventory based on the specific period should be as dealers inventory turnover on the situation.
Article XVII lenders should regularly take inventory and car dealers (or) spare parts inventory and analysis of financial statements such as distributors, dealers on a regular basis for review of the credit, depending on the results of the review and adjust the credit dealer inventory levels and the frequency of .

Chapter IV of the agency for a car loan

Article 18th term for a car loan institutions, is the lender in addition to the dealer other than the legal person, other economic organizations (hereinafter referred to as institutional borrowers) issued for the purchase of auto loans.
Article XIX borrowers to apply for a car loan institutions, must meet the following conditions:
(A) enterprises or institutions to register with authorities issued by the corporate business license or certificate of legal persons and institutions, such as proof of a borrower with a legal personality of the legal documents;
(B) have a legitimate, stable or adequate income to repay the loan principal and interest of legitimate assets;
(C) be able to pay for this approach provided for the down payment;
(D) no material breach or a bad credit record;
(E) required by lenders other conditions.
Article 20 should be the lender of this approach to the 15th article of the provisions for each agency to establish an independent borrower's credit file, follow-up to strengthen the monitoring of credit risk.
Article XXI of the lender engaged in the business of car rental agencies commercial vehicle sector loans, borrowers should be monitored to estimate the residual value on the way to guard against over-estimating the residual value to the lender of the risk.

Chapter Risk Management

Twenty-second article lender car loan payment should not exceed the amount the borrower to purchase 80% of car price; commercial vehicle loan payment should not exceed the amount the borrower to purchase 70% of the prices of motor vehicles; second-hand car loan payment of the amount shall not exceed Borrowers to buy the car prices by 50%.
Referred to in the preceding paragraph car prices, the new car is the car frame实际成交价(not including various types of value-added tax, fees and premiums, etc.) and car manufacturer announced the lower prices for used cars is the actual vehicle transactions The price (not including various types of value-added tax, fees and premiums, etc.) and lenders to assess the price lower.
Article twenty-lender should the borrower to establish credit rating systems, careful to identify the borrower's credit level. Of the individual borrowers, according to their occupation, income, repayment ability, credit history and other factors determine the level of credit; of dealers and loan institutions, should be reflected in their credit file, the senior management of credit, Financial situation, credit history and other factors determine the level of credit.
The 24th article lender paid for a car loan, the borrower should be required to provide the vehicle to buy mortgage or other security effectively.
25th lender should be entrusted to designated dealers or directly accept applications for car loans, loan separation perfecting a system to strengthen the loan before the loan review and follow-up after the collection of work.
26th lender should be set up second-hand car market and second-hand car database to estimate the residual value of the system.
27th lender should be based on the amount of the loan, the geographical distribution of loans, borrowers financial situation, automobile brands, the establishment of such factors as collateral for a car loan classification system to monitor different types of risk for a car loan to carry out regular inspection to assess. According to the inspection results of the assessment, various types of car loans in a timely manner to adjust the level of risk.
The 28th article lender for a car loan should be established early warning monitoring system, the development of early warning standards; more than the standard warning should be taken after the re-evaluation of the loan approval system.
The 29th article lender should be established to deal with non-performing loan classification system and the prudent loan loss system, the corresponding provision of risk to prepare.
The 30th article release mortgage lender, should be carefully assessed value of the collateral, and give full consideration to the risk of impairment of collateral, to set the maximum rate mortgage.
Article 31 should be the lender of auto loans to credit-related information in a timely manner entry registration system consulting and other lenders and the establishment of information exchange system.

Focus car 3 • 15: Revelation vehicle replacement experts large traps 13

The past two years become a vehicle replacement auto market hot. Some brands sell to consumers often shop sales consultants will hear this recommendation: "As long as you will own the replacement of old vehicles to our shop, and added that money can buy Zheliang new car." Relevant data, 2007 Beijing, 36 percent of consumers prepared to change or to buy second-hand cars.

With the rise of replacement business, various problems have begun to appear. Owners have reflected the second half of 2006, a 4 S stores held offers, the owners would like to change the hands of the Xiali, a new car, Jiang Jukai valuation to the shop. Beyond the car owners expected that the assessment of the division only out of the purchase price of 4,000 yuan. And afterwards, Jiang Jukai owners of old vehicles to a trading market is the price to 8,300 yuan turnover.

It is understood that the domestic mainstream brands 4 S stores, such as FAW-Volkswagen, FAW Toyota, Dongfeng Nissan, and so have launched a replacement business. But compared to a single car or selling cars, automotive replacement process should be more complicated, "a small amount of money spent Mailiang new car," the slogan of many owners it echocardiography, but not regular consumers if the sales of stores Replacement car, slightly Buliu Shen, vehicle replacement in the old process of a new, one of a Progressive, and they may fall into the trap on a Buliu Shen. For example, by lowering prices, subsidies cost more than expected, the marketing name of the "preferential car" - these people Fangbushengfang.

Insiders said that the current replacement in the course of the many issues on the one hand because the current flawed system of assessment of used cars, foreign used cars in evaluating agencies identified by a third party, but the acquisition of domestic cars is the main brand stores And the old market, which is due to the interests of one party, there will be lower in price, which many controlled by the intermediary agencies, the procedures may be inadequate. On the other hand, replacement of old vehicles in a number of shops in the operation of the lack of transparency, some people fish in troubled waters.

In fact, except for the operators to strengthen the norms, consumers decided to carry out replacement of old vehicles should also be studying the replacement of related knowledge, master certain skills, so as to avoid their hoodwinked. For example, replacement before understanding the acquisition market, understand the shop replacement for information, find knowledgeable friend to do the consultants, these can effectively avoid unscrupulous traders of deception. Because how to safeguard their own rights, the key is your own hands. To this end, we produced a "special planning 3 15" feature, the replacement of old vehicles to consumers revealed in the 13 issues, which trap 1 to 4 for old problems in the assessment process, five to 13 traps in the purchase of new In the course of cars.