Auto Finance product use survey: consumer Web site 46% car loansInternet financial disintermediation, peer to peer lending, reducing the threshold for applications, will enable individuals to obtain more benefits. Therefore, although the traditional offline channels and financial institutions now dominate, but Internet auto finance can meet some of the high degree of acceptance on the network, applications for qualification as compared with ordinary customers, impact on the traditional forms of financial products.
Auto Finance sounded on the tall, in fact, business is grounded, including car loans, car insurance and car leasing. In China, auto finance business is focused on car loans part and consists of auto finance company loans, Bank car loan, credit card, installment purchases form.
baic Chairman Xu Heyi said "auto financing is the future of China's auto industry a death card on the market. Who got will have the initiative in future markets. "According to statistics, sales of 70% cars in the world is done through a loan, loan profits accounted for 24% of the global auto industry profits. Automotive financial services in automobile industry chain is undoubtedly become one of the most valuable parts. Up to now, the auto financing penetration rate in China is less than 20%, in the face of this potential of blue ocean, banks, car companies, and even third-party agencies have started to focus, to test the waters.
NetEase recently launched a theme of the survey of use of auto finance activities activities survey consumer auto financing products to the awareness, preference and acceptability, total valid responses to 5,224.
90% consumer preference to the traditional sources of credit bank finance popular
as early concept became popular, Chinese consumers have begun to accept the loan consumer car, economy is not easy but small monthly repayments can guarantee consumers, auto purchase financing to reduce personal stress and enliven the capital and so on.
NetEase automotive survey shows that have car purchases and future plans of customers, select the proportion of loans to car buyers to 65.34%, select full car for 14.41%, do not determine the swing crowd 20.25%. Reluctance to lend car buyers said, mainly due to interest on loans have to be repaid (high interest rates) and the cumbersome procedures, loan program is not appropriate, loan limit, good economic conditions, and so on.
60% loans car consumers, Bank car loans, credit card installment purchases auto finance company loans accounted for three traditional loans 91%, financed by bank loans more popular with consumers.
46% consumer Web site car loans auto financing potential of the Internet
as we all know, the Internet's biggest feature is disintermediation, that is found both in need at minimum cost; and Internet banking is to bypass banks and other traditional financial institutions to address funding requirements. For auto financing, the traditional industry, Internet banking is bound to pose a challenge for auto financing.
for the question of how to apply for car loans online, 46% consumers willing to accept online application, 38.8% said they are not sure. 15.2% of consumers made it clear that only reject Web site.
has great potential, but the survey also shows that Internet auto finance products, there are a lot of problems. Like, near half of consumers does not too understand Internet car financial products, need related institutions for universal and promotion; second about one-fourth consumers on Internet financial security and risk control aspects exists doubts, need looking for better of mode guarantees consumers of funds security; addition, as new things Internet financial products also exists with products still enough has attraction, problem, need for consumers different of needs, rich optimization programme, reduced interest and application threshold.
Internet financial disintermediation, peer to peer lending, reducing the threshold for applications, will enable individuals to obtain more benefits. Therefore, although the traditional offline channels and financial institutions now dominate, but Internet auto finance can meet some of the high degree of acceptance on the network, applications for qualification as compared with ordinary customers, impact on the traditional forms of financial products.
any challenges and opportunities. For auto financing area, when the car loan low threshold, when choosing a more diverse consumer purchase will also climb, while Automobile finance business market cake will be bigger.