Research On Asset Finance Of Automobile Finance Company

With the changes in public consumption habits,consumer loans is gradually accepted by the public.The car as a travel tool gradually into people's lives,for car buyers to provide loan support services such as car finance company came into being.With the rapid economic development,in recent years,the total automobile production and sales increased year by year,according to the China Auto Industry Association released data show that in 2010 car sales of 18.06 million,to 2016 has more than 28 million,consumer demand for cars more and more vigorous,and as specifically for consumers to provide car loan services,auto finance companies,due to the reasons for the slow development of financing is slow,it is difficult to keep up with the pace of development of the automotive market.From the financing channels of auto finance companies,auto finance companies as financial institutions can not absorb public deposits to increase liquidity,mainly through bank loans,interbank borrowing to raise funds.Financing,financing,financing channels,a single has become a key factor restricting the development of this industry.The relevant regulatory authorities also attach great importance to the financing of auto finance companies,in March 2016,the People's Bank of China and the China Banking Regulatory Commission jointly triggered the "increase on the new financial support for financial guidance," clearly put forward to encourage qualified auto finance The company uses asset securitization and other means of financing to obtain financing directly from the capital market.Therefore,the current research on the financing mechanism of mortgage financing securitization of automobile finance companies will help to promote the healthy and sustainable development of automobile finance companies.This paper starts from the financing status of auto finance companies and the reasons for the formation of auto finance companies.This paper analyzes the role of asset securitization financing in resolving the automobile finance company.The financing of asset securitization can not only expand the financing channels of automobile finance companies,revise the stock assets,solve the financing difficulties,but also optimize the capital structure of automobile finance companies and further improve the automobile finance Corporate Loan Project and Bank Loan Term Mismatch.And then analyzes the application of asset securitization in the financing of Volkswagen Finance(China)Company.Finally,some suggestions are put forward from the selection of the pool assets and the design of the transaction structure,so that the financing of asset securitization can be better solved The Difficulty of Finance Financing of Automobile Finance Companies.This article selected the mass financial(China)mortgage securitization case,the transaction was in the year by the financial journal "Global Capital" as "the best securities securitization in Asia." Firstly,it analyzes the motivations of Volkswagen Finance(China)to carry out asset securitization financing,and introduces the asset pool and transaction structure of asset securitization.Secondly,the effect of this asset securitization fiinancing is analyzed.It is found that the financing cost of the asset securitization of Volkswagen Finance(China)is obviously lower than the cost of obtaining the capital from the bank,and the public automobile finance(China)capital structure of the company,revitalize the stock of credit assets,to achieve the early realization of the loan assets,Volkswagen Finance(China)company financing has a positive effect.Finally,the author expounds in detail the reasons for the success of the asset securitization of Volkswagen Finance(China)Company,analyzes-the loan interest rate of loan assets,the distribution area of loan customers,the age of loan customers and the remaining period of loans,At the same time,it elaborates the establishment of the trust account in the transaction structure and the cash flow payment mechanism.In order to further improve the automobile financing company's use of assetsecuritization financing to resolve the plight of financing difficulties,at the end of this article,some suggestions are put forward.On the one hand,auto financing companies should strengthen the pre loan audit and post loan management to ensure the good quality of the pool assets,which is the key to prevent the stable and sustainable cash flow in the asset pool.On the other hand,in the design of transaction structure,to fully consider the return of project funds and loans the loan asset pool project deadline and asset securitization products matching period,reasonable design of transaction structure,optimization design.Only to ensure the quality of high-quality,into the pool of assets transaction structure,improve the participating agencies to perform their functions,to ensure the mortgage securitization to better solve auto finance companies financing difficulties,Everfount provide impetus to the development of auto finance company and fast.