Study On The Application Of Asset Securitization In Auto Finance Companies

At present,China's automobile market is booming,favored by consumers for its imple and preferential loan policies,and has become the main force to promote the ri se of the automobile financial industry.However the main financing channels of auto finance company is bank loans,which is passive and cost high.The asset securitizati on is an effective way for auto finance,but in today's China,the asset securitization is still in the exploratory stage.In view of this,this paper will start from the practical poi nt of view,and focus on how asset securitization products automotive of finance comp anies design to obtain financing.Quantitative analysis,case analysis and comparison analysis method have been applied in this paper.First of all,it expounds the three theoretical foundations of asset securitization.Secondly,pool of assets,risk retention information and transaction structure are analized in detail according to the selected case : 2016 VOLKSWAGEN Yu Hua's fifth loan asset securitization products.Finally,compare 2016 VOLKSWAGEN Yu Hua's fifth loan asset securitization products with other issued auto loan asset securitization products in the same three aspects: pool of assets,risk retention information and transaction structure.In the end of the paper,what are worth learning in VOLKSWAGEN Yu Hua's fifth loan asset securitization products are as follows: first,the carefully selected pooled assets has ensured the quality;second,the conversion mode and the innovation release amount discounted mechanism make the product cash flow more stable;at the same time,for the future development of auto loan asset securitization products obtained,recommendations of four suspects have been offered in paper,that is selection of asset pool,improvement of risk retention and main mode,flexible design of transaction structure and improvement of macro level policy.