Z Bank's Auto Finance Loan Innovation Model Research

Since 2009,new cars in China sale more than that in the United States,which ranks first in the world.In 2014,China's car ownership number is more than 140 million,and the demand of auto has become the largest in the world,but compared the history of the development of auto with other developed countries,the car market development of China is lagging behind.From the perspective of history of the mature market,auto consumer finance plays an extremely important role.According to the statistics of credit institutions,foreign automobile consumer finance average penetration rate increases over 50%,in 2014,the number of consumers in United States credit car buying is 84%of new car sales,while China is only 20%.Therefore,compared with the mature auto market of developed countries,China's auto buying is mainly the traditional full purchase,car financial penetration rate is relatively low.So,the space of car financial development is broad,and the popularity of the auto finance is a big problem in china.On the basis of reviewing the relevant research literature,this paper defined concept of the auto loans,installment and auto finance,and use the consumption theory and consumer credit risk theory as direction,analyzing the current situation of Z bank auto loan,discovering existence major problems of the auto loan in Z bank:passive position in auto loan business,auto loan products simplification,high auto loan rates and poor effectiveness of auto loan.The main reason is that the automobile financial service concept is backward,the idea of consumer loan from bank is shortage,bank credit card data are not fully used,and lack of bank auto finance talent.This paper expounds the function and effect of credit card data,analyzes the application of credit card big data in auto financial credit,and thinks that rely on credit card big data,Z bank can determine the target customers,realize the auto credit risk assessment,implement precision marketing of auto loan,innovate automobile credit products,optimize the automobile credit channel,control auto credit risk,and provide support for the innovation of Z bank auto loan model.This paper puts forward that the Z bank auto loan innovation model is the innovation product model(improving product packaging,using differential pricing strategy,offering customized payment service,building cross-border cooperation car loan product,providing 020 products and services),innovate business process model(large data evaluation system,optimization of trial system,using the PAD mobile terminal,providing real-time funding),innovative marketing mode(collaborative credit marketing,palm life positioning clients,WeChat from the media,car club).Finally,the paper expounds the superiority of Z bank auto loan innovation model from three aspects of banks,dealers and customers,putting forward the implementation path of positioning of customer groups accurately,strengthening marketing efforts,establishing a sound risk management mechanism,enhancing the information technology support,and providing the auto finance personnel support.The implementation of Z bank auto loan innovation model,the Z bank can become the sponsor of auto finance loans,which means it can find customers,look for car dealers,control the risk of auto finance loan and bid farewell to the passive position in traditional auto loan model.The new mode also can enhance the competitiveness in auto finance loans,reduce auto loan risk,improve the loan bank risk profit rate,and ultimately,achieve the goal of increasing benefits of bank,dealers and customers.