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Second-hand car business car, pushing borrowing rate loans financial meow

February 28, 2017

Sina

technology news December 28th afternoon, second-hand car business car, today on-line consumer financial products "meow, fast loan" this is the Hangzhou based second-hand car business 1 billion 200 million yuan B round of financing since the first financial product line.

Prior to

, according to the car, the car for the Hangzhou cat has completed all the formalities of Internet Nationwide Financial Services Inc operating in the middle of this month, including Zhejiang rich holdings of shares accounted for 51%, the car cat and dug net earnings accounted for 34% and 15% of the shares of the company.

traditional borrowing threshold is too high

specific product itself, different from the traditional loans, "meow fast loan" was simplified in the process: first, the loan application submitted online name, ID number, mobile phone number, bank card number, reducing the threshold for loans; two, no need to submit any paper materials, eliminating the cumbersome process; three, 30 minutes you can credit results, accelerate lending efficiency.

car cat co-founder Han Guangyu said, "the characteristics of traditional financial institutions is the first to the user as" bad guys ", through continuous testing, let the" bad guys "no loopholes. Although the control of the risk, but also raise the user threshold. For most of the 80, 90, to solve the problem of insufficient funds and difficult points of the loan, to promote their car demand, expand consumption, accelerate the transfer of second-hand car transactions."

Europe and the United States market and China Trends

according to the central bank statistics, in 2012 China’s auto finance market is 392 billion yuan, in 2014 China’s auto finance market has been more than 700 billion yuan, it can be seen that the compound growth rate of 33.6% during the period. But on the other hand, in 2014 China’s auto finance penetration rate of only about 20%.

According to

automotive information (IHS) statistics, the United States, Japan, Western Europe and India market auto finance penetration are respectively 90%, 70%, 70% and 60%.

compared with other countries, China’s automobile credit penetration although there is a big gap, but the entire automobile finance market in the expansion continued at an annual rate of 25%, the automobile finance demand is very strong, and this trend also applies to Yu Zheng in the great potential of second-hand car market.

used car electricity supplier push financial

domestic second-hand car electricity supplier, in front of the high cost of passengers, the commission can not rely solely on the profitability of 2%-4% has become the industry consensus, then how to expand the upstream and downstream industry chain flexibility is the key. According to the China Automobile Dealers Association statistics, is expected by the end of 2016, the amount of second-hand car transactions will be more than 500 billion yuan, second-hand car trading volume of more than 10 million units.

such a huge market, with the growing demand for second-hand car loans, consumer loans and the shortcomings of the traditional reflected in second-hand cars, auto finance has become the second-hand car industry chasing profit point. (Li Gen)

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