Rebirth of the Industrial Tycoon

Chapter 671 Great wisdom always has a way

When it comes to playing finance, the United States is definitely taking the lead. China's first automobile finance company in history was also established by SAIC-GM. GM also relied on its earliest layout to become China's largest auto finance company.

At that time, the China Banking Regulatory Commission also promulgated the "Administrative Measures for Auto Finance Companies", which made the business of auto finance companies subject to the supervision of the China Banking Regulatory Commission and could be connected to the central bank's credit reporting system, achieving the purpose of risk control.

Insurance companies withdrew and auto finance companies stepped in, turning the auto loan business into a competition between banks and auto finance companies.

Compared with banks, auto finance companies also have advantages, because auto finance companies are established by major car companies. As the saying goes, the good news does not go to outsiders. When selling cars, car dealers will naturally give priority to recommending their own brands. car finance company.

Although banks hold a large amount of funds, they lose out on channels.

The demand for cars in the Chinese market is still huge. Auto finance companies have solved the problem of car purchase funds and stimulated car consumption. In the next few years, China's car sales have begun to make great strides.

Car financial services are actually loans, and the interest rates are higher than bank car loan interest rates. This is a big piece of meat, and many people want to take a bite.

But is it possible that anyone who wants to do this business of lending can do it? Therefore, auto finance companies are supervised by the China Banking Regulatory Commission, and there are only a dozen business licenses for auto finance companies nationwide.

What should those who cannot obtain an auto finance company business license but want to engage in auto finance business do?

So the smart people who wanted to make money thought of the car financing leasing business.

Car financing leasing is similar to a loan, except that it is not a loan contract but a lease contract.

When a consumer comes to buy a car, although I can't get you a loan, I can give you the car in the name of leasing. The rent you pay every month is equivalent to a loan. When the rent is paid, the ownership of the car will be yours. .

Later generations often see reports that someone bought a car with a loan. When he looked at the book, he found that the car was not his own, but the car rental company's. When he looked at the contract, he found that the contract he signed was not a car purchase contract, but a car rental contract. Generally speaking, This is the kind of car financing leasing service you use.

I have to say that whoever thought of this move was really talented. It is clear that it is engaged in financial lending business, but it has successfully circumvented the supervision of the China Banking Regulatory Commission.

Because companies rent out their own things and then charge rent, it is a commercial operation and is within the scope of supervision by the Ministry of Commerce.

It was not until 2008 that the China Banking Regulatory Commission issued the new "Administrative Measures for Auto Finance Companies" to standardize the auto finance leasing business.

Now that car loans have been temporarily suspended, Li Weidong has started the car financing leasing business.

This move was still a blind spot of supervision at the time. Although it was a financial business, the financial authorities had no control over it.

Although there is a certain risk, the interest rate is higher than that of a car loan, and the term is longer than that of a car loan, so the profit is greater than that of a car loan.

The key is that there is an essential difference between leasing and loans. Although you need to use the vehicle as collateral to buy a car with a loan, if the lender really doesn't pay back the money and wants to take back the car, you still need to go through some legal channels, which will be more complicated. trouble.

However, leasing is different. This car originally belongs to me. If you can't pay the rent, I will take back what belongs to me at any time, and the whole process is much simpler.

If you look at those who do car finance in later generations, they are eager for customers to sign financial leasing contracts, and you will know how profitable this trick is.

…

Sun Xinshu drove an excavator for two years under a private contractor. Although the work was hard, the pay was very good, so Sun Xinshu saved some money.

Having become familiar with this industry, Sun Xinshu has gotten to know some of the small contractors who work on projects, so he plans to pay a down payment and buy an excavator to work on his own.

Arriving at the construction machinery seller, Sun Xinshu walked directly to one of the excavators. This is a model that he has been optimistic about, a product of XCMG.

Sun Xinshu had been here many times before, and the salesperson already knew him, so he immediately greeted him.

"Mr. Sun, have you decided to place an order?" the salesperson asked enthusiastically.

"Just buy this one!" Sun Xinshu continued: "The discount you promised me before must not be less!"

"Mr. Sun, don't worry. You have been here so many times, how can I still lie to you?" The salesperson continued: "Then this is how you plan to pay?"

"I brought my bank card!" Sun Xinshu took out a bank card, as well as ID card and other documents, and then said: "I also brought the documents, so you can apply for a loan directly!"

"Mr. Sun, do you plan to take out a loan to buy this excavator?" the salesperson asked.

"How can you afford something worth hundreds of thousands of dollars in full? You will definitely need a loan!" Sun Xinshu said.

"Mr. Sun, what a coincidence, we cannot apply for loans for this excavator now!" the salesperson said helplessly.

"Can't get a loan? Why? I've been here so many times before, haven't I been able to get a loan! How did you do it?" A ray of anger appeared on Sun Xinshu's face.

"It was OK a few days ago, but it's not OK recently." The salesperson continued, "Mr. Sun, you can't blame us for this. It's the national policy that has stopped car loans, so not only here, but also in other places, you won't get a loan!"

"Then what should I do?" Sun Xinshu asked subconsciously.

"You may have to pay the full amount for the car!" the salesperson replied.

"If I had the full amount, why would I take out a loan!" Sun Xinshu said.

"Otherwise, save some more money?" the salesperson asked tentatively.

Sun Xinshu's face suddenly turned pale like a frost-bitten eggplant.

In the past two years, he has worked overtime to make money, and he has been frugal on weekdays, not even willing to buy a new piece of clothing, just to save enough for the down payment as soon as possible so that he can buy an excavator of his own.

But he didn't expect that he would suddenly not be allowed to take out a loan. If he saved the full amount to buy a car, he didn't know how many years of frugal life he would have to live!

Sun Xinshu suddenly thought of Camel Xiangzi, and he felt that he was just as miserable as Xiangzi now.

At this time, the salesperson asked, "Mr. Sun, do you have to buy this excavator?"

"Nonsense, I've been here so many times, and I've been eyeing this one for a long time." Sun Xinshu replied casually.

"Mr. Sun, if you want to buy another brand, maybe there is a way to get a loan." The salesperson replied.

"Didn't you say that auto loans have been stopped?" Sun Xinshu asked curiously.

"The bank has stopped it, but the auto finance company is still okay, but the loan interest rate is higher than the bank." The salesperson was afraid that the high interest rate would scare away customers, so he hurriedly said; "But the down payment is lower than the bank, and the loan term is longer than the bank!"

"Why didn't you say it earlier! Isn't it just a higher interest rate, as long as it's not too outrageous." Sun Xinshu now wants to buy an excavator quickly, and as for the higher interest, it is completely acceptable.

"Well, Mr. Sun, please follow me!" The salesperson took Sun Xinshu to a Fukang excavator and said, "Mr. Sun, this Fukang excavator has similar specifications to the XCMG excavator you saw, but this Fukang excavator can be loaned!" The salesperson then introduced the interest rate and term. However, Sun Xinshu still had a special liking for the XCMG excavator, so he asked, "How about this? I'll still buy the XCMG excavator, and you can get me a loan based on this Fukang excavator. I'll accept the higher interest rate. How about that?"

The salesperson immediately shook his head and said, "That won't work. Only Fukang excavators can get loans, not XCMG ones!"

"It's just a workaround!" Sun Xinshu said as he took out a cigarette and handed it to the salesperson, then said, "Anyway, we're all buying things from you, whether it's XCMG or Fukang, you're making the same money, and you're still getting commissions, so help me out!"

"Mr. Sun, it's not that I don't want to help, it's just that I can't do this favor! If I can make money, why wouldn't I make it!" The salesperson sighed and said, "To tell you the truth, this auto finance company was founded by Fukang Engineering, and now banks are unwilling to do auto loans Therefore, this part of the funds is also from Fukang Engineering.

It is also for this reason that only Fukang Engineering products can be used for loans now. To put it another way, if you use Fukang Engineering's money to buy Xugong's products, Fukang Engineering will definitely not be willing to do so! "

Sun Xinshu was stunned for a moment, and after digesting the salesperson's words, he asked, "According to you, if I want to borrow money to buy an excavator, I can only buy Fukang Engineering?"

"Yes, other brands must be paid in full!" The salesperson nodded, and then said, "Mr. Sun, only Fukang Engineering can apply for loans now, so their products are selling very well. If you want to buy a Fukang excavator, you have to do it as soon as possible, otherwise it may be out of stock in a few days!"

After hearing what the salesperson said, Sun Xinshu gritted his teeth and said, "Okay, then buy this Fukang excavator!"

...

Whether you can borrow money to buy or not, for consumers, the difference is still very huge.

Look at those real estate projects in the future, how many of them are bought in full, and almost all of them are loans.

Let alone a high-value commodity like a house, even if you buy a mobile phone or a tablet, if you can have a 12-term Huabei payment, the sales volume will be much better than paying it all at once.

In 2004, the housing prices had not yet been hyped up, and the price of a piece of construction machinery was much more expensive than an ordinary house, so naturally you had to take out a loan to have sales.

The financing lease that Li Weidong did just filled the window period when auto loans were suspended. The sales volume of Fukang Engineering's products increased several times in an instant. The original inventory of construction machinery was sold out in less than a month, and many people were even willing to pay first and wait a few months before picking up the car.

For Fukang Engineering, although a large sum of money was released through auto finance, and certain financial risks had to be borne at the same time, in general, this deal was definitely a sure win.

When lending out, it was calculated based on the vehicle's selling price, but Fukang Engineering itself was a manufacturer, and they only needed to bear the cost of the vehicle when lending, which reduced the financial pressure on Fukang Engineering.

Moreover, people who buy cars with loans need to pay a down payment first. Even a 30% down payment can offset half of the production costs, which further eases the financial pressure on Fukang Engineering.

What's more, Fukang Engineering's output is limited after all. After the inventory is sold out, the construction machinery can only be sold as futures. The deposit has been collected here, but the product has not yet been produced over there! It's like paying a few months' deposit in vain.

With this model of collecting payment first and delivering goods a few months later, the capital chain can never be broken.

…

At the same time, in Las Vegas, the Consumer Electronics Show is in full swing.

In the electronic products exhibition area, American companies accounted for the majority.

American companies such as Dell, HP, Apple, and Western Digital all brought their own exhibits, and even Microsoft brought the latest XBOX game console to compete with Nintendo.

In the first decade of the 21st century, American electronic products had an absolute leading position. Therefore, the electronic product exhibition area was like the home field of the United States, and other brands could only serve as a foil.

In the home appliances exhibition area, it is almost occupied by foreign brands.

The home appliance industry in the United States has basically been outsourced. Even the home appliance exhibition held in the United States does not feel like the home appliance exhibition area of ​​the United States.

On the contrary, there are some American home appliance brand representatives hanging around to see if there are any good products, and then directly place OEM orders with them, put their own brands on them, and then ship them back to the United States for sales. Isn't it great to happily be a middleman and earn the price difference?

Almost all well-known home appliance brands from Japan, South Korea and Europe were present, but the largest number were Chinese home appliance companies.

In terms of home appliances, China is still not up to the technology of Japan and Europe, but it already has an advantage in terms of the number of companies.

Moreover, as household appliances are a kind of daily consumer goods, ordinary consumers are not concerned about the high technology they contain, but pay more attention to the cost performance. Chinese brands definitely have advantages in this regard.

If you want to see high technology, you can go to the electronic product exhibition area next door, where there are all kinds of advanced high-tech products.

As South Korea's largest chaebol, Samsung Electronics, a subsidiary of Samsung Group, has its own booths in the electronics exhibition area and home appliances exhibition area.

In the electronic products exhibition area, Samsung introduced several new products, such as high-pixel digital cameras, new MP4 players, high-configuration laptops, etc.

But compared with American and Japanese companies, there is still a certain gap.

For example, Samsung's digital cameras are definitely not as good as Canon and Nikon; in MP4 players, Samsung is not as good as Sony and Toshiba; as for laptops, HP and Dell are there, so why not Samsung?

When it comes to high technology, Samsung can’t compare to the United States and Japan. However, in the home appliances exhibition area, Samsung still failed to steal the limelight.

In terms of high-end home appliances, there are established strong players such as Siemens, Bosch, and Panasonic. Samsung is just a rising star in front of them.

As for low-end household appliances, there are a lot of Chinese brands, more than Europe and Japan combined! With the wolf-pack tactics of Chinese brands, who would pay attention to Samsung!

As for mid-range household appliances, it’s a red sea!

European and Japanese brands do not intend to abandon the mid-range market, and they have launched corresponding products. Chinese brands also want to enter the mid-segment market and have also launched corresponding products.

The result is that Samsung is caught in the middle, nondescript, and becomes a bullied little widow.

As the operating officer of Samsung Electronics, Kim Hyun-seok stood in his exhibition area with a livid face.

Samsung couldn't compete with time-honored brands such as Siemens and Panasonic, so Kim Hyun-seok recognized it. Now that even Chinese brands can't cover up the limelight, Kim Hyun-seok couldn't accept it.

"I thought that we had caught up with the world and could replicate the success of Japanese brands in the United States. But I didn't expect that Chinese brands would develop so fast. In just a few years, we have already reached this point!"

Jin Xuanshi took a deep breath and then ordered: "It seems that Chinese brands are our biggest competitors in the future. When we go back, we will immediately make a plan to deal with Chinese brands. If we, Samsung Electronics, want to dominate the world, we must first conquer China." The brand is beaten down!”

Jin Xuanshi said, looked around, then pointed to the exhibition area of ​​the Puppy Group, and continued: "I heard that the products of the Puppy Group are also very popular in Japan and Southeast Asia. Since they can occupy the overseas market, Let’s attack them first!”

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