| Auto financing company is one of the main forces driving the development of China's automobile finance industry.At present,the growth potential of China's auto financing market is huge.With the competitive loan service,the demand for loan of auto financing companies is increasing.But the auto financing company is faced with narrow financing channels and high cost financing.However,the automobile loan asset securitization is a feasible way to solve this problem,but there are still many problems in the application of auto financing in China.In view of this,this paper will study and discuss the securitization of auto loan assets from the perspective of practice.This paper mainly adopts the method of case study.First of all,this paper takes the development of macro-economy,auto finance and auto loan securitization as the research background,and analyzes the significance of this research.Secondly,this paper selected case--Shanghai gm auto financing companies issued by “rong teng”2016 first automobile mortgage securitization product is introduced in detail,and carries on the release agent and product detailed analysis of the core part.The following main conclusions: in terms of product distribution agent,this product can promote the completion of the company development strategy,expand the company's business,enrich the company's financing channels,and optimize the capital structure of the company.In terms of the core links,the product has a lot to learn from.One is the careful selection of the pool assets and the mature loan management method to ensure the quality of the pool assets.Second,the unique issuance amount determination mechanism guarantees the stability of product cash flow;Thirdly,the cash flow payment mechanism in the non-complete order increases the protection of priority securities and reduces the financing cost.Fourth,advanced credit enhancement measures to improve product credit rating.Finally,based on these main conclusions,this paper puts forward some pertinent Suggestions. |
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