Different from the traditional car purchase with financial loans, the car financing lease mode separates the right to use the car from the ownership, and the consumer obtains the right to use the car by means of long-term lease, and then pays the rent monthly. After the lease expires, consumers can choose to buy the vehicle according to its residual value.
on the one hand, it is easier to get the benefits of loans than traditional financial channels by "driving a new car at only -1% of the car price"; On the one hand, there are thousands of people defending their rights and hundreds of lawsuits ... When it comes to car financing leasing, many consumers feel like riding a roller coaster.
In recent years, this new type of car purchase by installment has been "popular". The industry estimates that the auto financing leasing market will reach a huge scale of 389.7 billion yuan in 221. However, due to the lack of understanding of this model by some consumers, the lack of supervision and the irregular operation of some enterprises, this attractive new model once caused controversy.
some experts pointed out that the advantage of auto financing lease is that it greatly lowers the threshold of auto consumption, and can turn potential customers who are temporarily unable to buy cars into real consumers. This is undoubtedly of positive significance to the recovery of China's automobile market and the promotion of the formation of a large domestic cycle.
but at the same time, consumers are often unfamiliar with brand-new business models and products, and it is difficult for them to understand them as thoroughly as professionals. Therefore, if some merchants deliberately mislead consumers and make malicious profits by using information asymmetry, and the industry supervision is still not perfect, it may cause the effect of "bad money driving out good money".
as a new business model, how can auto financing lease avoid "alienation"? How can various auto financing leasing platforms learn from consumers' demands for rights protection? How should the regulatory authorities "establish rules" to avoid this new mode of word-of-mouth flashing red lights frequently? Faced with these doubts, the reporter conducted an in-depth investigation.
If the threshold of "getting on the bus" is lowered, what problems can financial leasing solve
In some mature automobile markets in Europe and America, the financial leasing model started earlier.
"After entering the second half of the year, more and more customers came to the store to see cars. Among them, the self-owned brand SUV with a price of about 15, yuan is the most popular, accounting for nearly 6% of sales. " Cai Yuan, the sales director of a car financing leasing company in Nanchong, Sichuan, found that many consumers hope to drive a good new car with as little money as possible and realize "freedom of travel".
according to the definition of "management measures for auto financing companies" published in 218, auto financing leasing business refers to the trading activities of auto financing companies, which take cars as the lease object, and lease the cars obtained from the suppliers to the lessee for possession and use according to the contract agreement according to the lessee's choice or approval of cars and suppliers, and collect the rent from the lessee. In fact, in some mature automobile markets in Europe and America, the penetration rate of financial leasing in new car sales has accounted for about 3%.
Different from the traditional car purchase with financial loans, the car financing lease mode separates the right to use the car from the ownership, and the consumer obtains the right to use the car by means of long-term lease, and then pays the rent monthly. After the lease expires, consumers can choose to buy the vehicle according to its residual value.
in other words, the ownership of the car belongs to the car rental platform during the car rental period; After the lease expires and the transfer is completed, the ownership of the car is transferred to the consumer.
"It is of great significance to transform potential consumption demand into real consumption, which will accelerate the recovery of the automobile market." According to Xue Xu, an associate professor at Peking University University of Economics, the advantage of car financing leasing is that it greatly lowers the threshold of car consumption, and can turn potential customers who are temporarily unable to buy cars into real consumers.
taking the average retail price of new cars in China as an example, if you buy a car through traditional channels, the general down payment is 2%-4% of the total amount, plus about 1% of the purchase tax, about 5, yuan of insurance, licensing fees and other "invisible consumption", you need to pay at least 5, yuan at a time.
compared with this, the car financing lease that claims "1% down payment, rent first and then buy" is undoubtedly more grounded and more favored by young consumers.
some insiders pointed out that with the young people who are used to "spending money" about to become the main force of car purchase, auto finance, including auto financing lease, will become increasingly hot.
"After p>“95, consumers' demand for car use is more rational, and the demand for low down payment financial solutions is more obvious." According to the Insight Report on the Automobile Consumption of Generation Z in China in 22 jointly launched by car home and Deloitte, a global consulting firm, only 38% of the post-199s consumers will choose to buy a car in full, and auto finance products including auto financing lease have become the "better choice" for this generation of young people.
The report points out that the demand of young consumers for the right to use cars after 1995 is gradually higher than the ownership, which provides fertile ground for rich and flexible car financing leasing and the long-term development of car products.
after several comparisons, Chen Rui, a 25-year-old boy from Hubei, chose car financing lease. His reason is very straightforward: "I just bought a house and got married last year, and my money is a little tight."
"Actually, I hardly ever drive a car after my driver's license test. However, due to work transfer, the commuting distance to work every day is more than ten kilometers, so it is just necessary to buy a car to travel. " Chen Rui said frankly that for the young couple who had just worked, mortgage and children's education occupied most of their income, so they had to find ways to reduce other expenses.
The new edamame car has been launched in Liaoning, Guangdong, Hebei, Henan and other places. According to Zhang Yi, the second-level inspector of the Liaoning Provincial Department of Commerce, this move can enhance market popularity, boost consumer confidence, and meet the people's growing needs for a better life.
According to Bai Rubing, senior vice president of Cheduoduo Group and the person in charge of new edamame cars, in addition to greatly lowering the threshold of automobile consumption for users through low down payment and wide credit review, another major advantage of automobile financing leasing is to optimize the regional structure of automobile consumption in China.
"Take Sichuan Province as an example. The number of cars with 1, people in Chengdu is about 3, while the number in other parts of the province is less than 1. This shows that China's automobile consumption market-especially in the sinking market represented by third-tier and below cities and rural areas and towns-still has huge automobile consumption potential to be tapped. " Bai Rubing analyzed that it is difficult to fully tap the potential of this part of the market if only the traditional car selling mode is adopted.
on the one hand, more than 3, 4S stores, which are regarded as the main channels of automobile circulation at present, are mostly concentrated in cities, among which first-and second-tier cities account for the vast majority. Due to the large scale of investment and high operating costs, it is difficult for traditional 4S stores to find living soil in third-tier and below cities, especially counties and rural markets, so their coverage capacity is very limited.
on the other hand, under the traditional financial model, the high down payment and strict credit review make most consumers in the sinking market flinch, thus limiting the local automobile consumption level.
Statistics show that in the first half of 22, Shanghai, Beijing and Zhejiang, which ranked the top three in per capita disposable income, all exceeded 3, yuan, while most of the central and western provinces were less than 2, yuan.
"The essence of financial leasing is financial products, so the quality of service is very important." Xue Xu reminded that enterprises should not look at third-tier and below cities with the thinking of going north, Guangzhou and Shenzhen. Different business models can acquire their own customers through differentiated competition.
For example, under the premise of fully and legally using users' big data, some new automobile retail service platforms focusing on financial leasing can accelerate the integration of online and offline channels, and quickly analyze and master users' individual needs.
"Under the background that China's automobile consumption has not peaked and regional consumption is unbalanced, the market space for automobile financing leasing is very broad." According to Bai Rubing, the company has launched "cars going to the countryside" in Nanchong, Sichuan, Xianyang, Shaanxi, Guangdong, Hebei, Henan and Liaoning. "In 219, the sales volume of the area covered by edamame cars going to the countryside increased by as high as 386.7%, demonstrating the strong automobile consumption potential of the sinking market."
It looks beautiful, but there are "slots". Who should be washed away from the industry reshuffle?
Due to the low entry threshold and mixed competitors in the auto financing leasing industry, some commercial frauds and disputes not only bring troubles to consumers, but also seriously hinder the healthy development of the whole industry.
Like all controversial new things, many enterprises and consumers are eager to join the car financing lease, but they pay high "tuition fees". The once eye-catching propaganda slogan has become a "routine" in the mouth of consumers.
After reading more than 16 documents related to auto financing lease in China, the reporter found that the core points of consumer litigation are highly concentrated, all of which revolve around "buying a car to rent a car", modification of electronic agreement or credit record, difficulty in transferring ownership, car collection, and related transactions involving guarantee companies.
"Disputes caused by merchants playing tricks on consumers will inevitably lead consumers to lose confidence in the model of car financing leasing, and eventually they will shoot themselves in the foot." Pan Helin, a professor at Zhongnan University of Economics and Law and executive director of Digital Economy Research Institute, pointed out in an interview that fully protecting consumers' right to know is the primary condition for the healthy development of automobile financing leasing.
He believes that due to the natural asymmetry of information between consumers and enterprises, it is necessary to strengthen industry norms to prevent some enterprises with ulterior motives from misleading and cheating consumers. "For example, whether to buy or rent, how to calculate the monthly interest and how much each service fee is, we must make it clear clearly before signing the contract."
"Compared with the traditional automobile consumption pattern, automobile financing lease is more complicated, so some consumers don't know enough about automobile financing lease, which leads to misunderstanding of automobile financing lease industry and enterprises, thus hindering the development of the industry." As a trader of auto financing leasing platform, Bai Rubing told reporters frankly that some commercial frauds and disputes not only brought troubles to consumers, but also seriously hindered the healthy development of the whole industry.
Because the current credit information system is not perfect, and the used car evaluation system and circulation system are not mature enough, auto financing leasing companies need to invest a lot of money to control risks.
The reporter's investigation found that in advertising, some car financing leasing platforms only highlight the low down payment, but do not emphasize that the car ownership is not in the hands of customers and the rate is high. It is difficult for those consumers who are eager to use the car to resist such temptation and sign the contract without knowing the specific matters.
For enterprises, because the current credit information system is not perfect and the second-hand car evaluation system and circulation system are not mature enough, auto financing leasing companies need to invest a lot of money to control risks.
"Because of the low down payment for car purchase, the implementation cost of fraudulent loans is not high, and the car is a big commodity, once fraudulent loans occur, the enterprise will suffer serious losses." Some insiders revealed to reporters that some companies only review basic information such as driver's license, ID card and credit card when signing contracts, so they are easily targeted by black households.
In this regard, Xue Xu suggested that enterprises should not blindly develop in order to complete their tasks. "Car finance leasing business is actually a two-way choice between enterprises and consumers. Consumers will not choose companies with poor reputation, and companies cannot sell cars to people who have no purchasing power. "
"If enterprises increase excessive costs due to risk control, it will in turn affect the business model of financial leasing." Bai Rubing, for example, said that in the process of renting a car, there may be depreciation risks such as accidents, damage, theft, seizure, or being held accountable for traffic violations. Therefore, after the lease expires, how to avoid the residual dispute and whether the used car can smoothly circulate into the consumer market has become a difficult problem that the auto financing leasing platform needs to make great efforts to solve.
Pan Helin believes that in the face of the potential gold mine of automobile financing lease, it is absolutely not advisable to cheat consumers to exhaust their resources and fish, and bad money drives out good money. "Enterprises and consumers must abide by the market rules and fully respect the wishes of both parties. Only in the survival of the fittest in the market can this industry develop well."
put an end to market chaos and light a "new engine" for consumption upgrading
in the past few months, financial supervision departments at all levels have made "new moves frequently". From rectifying abnormal business enterprises to issuing business specification requirements, all of them reflect the determination to strengthen supervision and clean up the industry.
the good news is that a regulatory firewall is being established.
On August 25th, Tianjin Local Financial Supervision Administration issued a document to guide the city's financial leasing companies to develop automobile financial leasing business in compliance. The red-headed document puts forward 12 business specification requirements, including "descriptions such as' auto credit, car loan, car loan' which are not within the business scope of financial leasing business shall not be used in the company's publicity and contract signing", and "the lessee shall be fully reminded of the risks before or at the time of contract signing to protect his right to know" and "ensure that the lessee knows and clearly agrees with the expenses in the financial leasing contract".
In addition, the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases issued on August 2th pointed out that the upper limit of private lending interest rate was changed from "two lines and three districts based on 24% and 36%" to "four times the one-year loan market quotation rate (LPR) issued by the National Interbank Funding Center authorized by the People's Bank of China on the 2th of each month".
"This puts forward higher requirements for financial leasing companies to track data changes in time, judge the future trend of LPR and improve the contract pricing mechanism." Lawyer Chen Longfei, a senior partner of Shanghai Hansheng Law Firm and a member of the Financial Leasing Professional Committee of Shanghai Lawyers Association, wrote that the financial leasing company needs to stipulate a detailed rent collection plan in the contract. If floating interest rates are adopted, it is necessary to clarify the contract details such as the interest adjustment period, the proportion of the corresponding adjustment of the BP rent per LPR fluctuation, and the form of notice of rent changes.
in fact, in the past few months, financial supervision departments at all levels have made "frequent new moves". From rectifying abnormal operating enterprises to issuing the Measures for Supervision and Rating of Financial Leasing Companies (for Trial Implementation), all show the determination to strengthen supervision and clean up the industry.
"We should make every effort to push the national economy back to normal circulation. Finance and the real economy are thriving. Serving the real economy is the bounden duty and purpose of finance, and it is also a fundamental measure to prevent financial risks. " Not long ago, Guo Shuqing, secretary of the Party Committee of the People's Bank of China and chairman of China Banking and Insurance Regulatory Commission, pointed out that efforts should be made to achieve a long-term balance between steady growth and risk prevention, so as to provide solid financial support for building a well-off society in an all-round way.
as he said, in order to curb the recession, when economic activities shrink sharply, financial activities must expand instead. When young people who "live in the present" encounter unprecedented challenges in the auto market, all walks of life, including auto companies, dealers, banks and auto financing leasing platforms, have turned their attention to auto finance, trying to incite the auto market by means of financial leasing.
It is understood that since 218, major OEMs have set up auto financing leasing companies on the basis of the original auto finance companies in an attempt to provide more financial car purchase solutions for emerging customers.
in March this year, after Dongfeng Motor Group Co., Ltd. and Nissan (China) Investment Co., Ltd. jointly invested 67 million yuan, Dongfeng Nissan Financial Leasing officially completed the industrial and commercial name change registration procedures. This move is regarded as the second landing of Dongfeng Group's strategy of "doing big auto finance".
In p>219, the sales volume of the area covered by the new edamame car "Cars Going to the Countryside" increased by as high as 386.7%, showing the following.