正在改变汽车金融的三大趋势【外文翻译】.doc

1、外文题目THREETRENDSARERESHAPINGAUTOFINANCE出处ABABANKINGJOURNALFEB97作者ANONYMOUS原文THREETRENDSARERESHAPINGAUTOFINANCEINAUTOMOTIVEFINANCE,TWOIMPORTANTTRENDSAPPEARWELLESTABLISHEDANDPOISEDFORFURTHERADVANCESIN1997MORENONPRIMEORSUBPRIMELENDINGMORELEASINGATHIRDMOVEMENT,WHICHMAYORMAYNOTAMOUNTTOAMAJORTREND,ISTHEADV

2、ENTOFUSEDCARSUPERSTORESGEAREDTOHIGHVOLUMESELLINGSUBPRIMENEARLYMAINSTREAMAWELLKNOWNECONOMISTWHOTRACKSAUTOMOBILESALESPREDICTEDATYEARENDTHATSOME11MILLIONHOUSEHOLDSWILLHAVEDECLAREDBANKRUPTCYIN1996“THATSNOTALLBAD,“HESAID“ITMEANS11MILLIONMORESUBPRIMEBORROWERS“PERHAPSHEWASBEINGFACETIOUS,ORPERHAPSNOTTHEFACT

3、IS,NONPRIMEORSUBPRIMEAUTOLENDINGISNOLONGERLOOKEDUPONASANEXPEDIENTTOBERESORTEDTOONLYINEXTREMECASESDEPENDINGONTHEDEFINITION,ESTIMATESOFTHISMARKETPLACERANGEBETWEEN70BILLIONAND90BILLION,ANDCLEARLYITISCOMINGCLOSERTOTHEMAINSTREAMASANALTERNATIVEBORROWINGTECHNIQUEFORASIZABLEPROPORTIONOFTHEPOPULATIONTHEREASO

4、NSAREBLUNTLYDEMOGRAPHICDIVORCE,HIGHMEDICALEXPENSES,ANDCORPORATEDOWNSIZINGLEADINGTOJOBLOSSESAREAMONGTHEPRINCIPALFACTORSTHATHAVEHURTTHECREDITSTANDINGOFHUNDREDSOFTHOUSANDSOFPOTENTIALBORROWERSSOMEAREFORCEDINTOBANKRUPTCY,WHILEOTHERSMANAGETOAVOIDITBUTSEETHEIRHOUSEHOLDBUDGETSSEVERELYSTRAINEDFIGURESONCONSUM

5、ERLOANDELINQUENCIESARERUNNINGHIGHLARGENUMBERSOFWOULDBEBORROWERSMAYBEBADLYSTRETCHED,BUTTHEYSTILLNEEDPERSONALTRANSPORTATION,ANDWILLGOTOCONSIDERABLELENGTHSTOOBTAINFINANCINGTHATMAKESTHEMLOGICALCANDIDATESFORSUBPRIMELENDINGBYDEFINITION,THESEAREHIGHERRISKBORROWERS,BUTITDOESNOTAUTOMATICALLYFOLLOWTHATTHEYARE

6、ALLPOORCREDITRISKSMANYAREANXIOUSFORACHANCETOGETONASOLIDFOOTINGANDREESTABLISHTHEMSELVESASGOODCREDITRISKSLENDERSINCREASINGLYRECOGNIZETHISASONESPECIALISTPUTIT,“WELENDTOTHOSEWHONEEDASECONDCHANCE,NOTALASTCHANCE“FORLENDERS,THESCREENINGPROCESSISCRUCIALBANKSANDFINANCECOMPANIESHAVELONGEXPERIENCEWITHCREDITCAR

7、DANDOTHERCONSUMERLENDING,ANDINRECENTYEARS,THETENDENCYHASBEENTOUSECOMPUTERIZEDCREDITSCORINGTOSEGMENTDIFFERENTCATEGORIESOFCREDITRISK,THENASSIGNDIFFERENTRATESANDCONDITIONSTODIFFERENTMARKETSEGMENTSCREDITSCORINGHASTHEADVANTAGESOFBEINGFAST,CONSISTENT,OBJECTIVE,ANDBASEDONREALLIFEEXPERIENCEWITHDIFFERENTCATE

8、GORIESOFBORROWERSSIMILARLY,AUTOINSURERSDONOTAUTOMATICALLYBANDRIVERSWITHRECORDSOFSPEEDINGVIOLATIONSTHEYSEGMENTTHEMINSEPARATERISKCATEGORIESANDCHARGEACCORDINGLYSOTODAYWITHAUTOFINANCEOFTENTHEBORROWERSWILLWINPREAPPROVEDCREDITTOBUYTHEVEHICLEOFTHEIRCHOICE,UPTOASETLIMITINTHECASEOFSUBPRIMERISKS,THEYWILLBEASS

9、IGNEDHIGHERINTERESTRATESAND/ORFEES,ANDTHELENDERMAYREQUIREAFAIRLYLARGEDOWNPAYMENTASAPERCENTAGEOFTHETOTALVALUEOFTHEVEHICLEONCETHEBORROWERHASDEMONSTRATEDRESPONSIBLECREDITBEHAVIORANDREPAIDENOUGHTOBUILDUPEQUITYINTHEVEHICLEEQUALTOTHERESALEVALUEOFTHEVEHICLEATTHEWHOLESALELEVEL,SOMELENDERSAREWILLINGTOSWITCHT

10、HEBORROWERATTHATPOINTTOMORECONVENTIONALFINANCINGINAFURTHERREFINEMENTOFTHECREDITSCORINGTECHNIQUE,SOMELENDERSHAVEATIEREDPRICINGARRANGEMENT,INWHICHDIFFERENTSCORESAREASSIGNEDFORDIFFERENTTERMLENGTHSOFLOANSINEVITABLY,ACERTAINPROPORTIONOFSUBPRIMEBORROWERSMAYHAVETROUBLEMEETINGTHEIRPAYMENTSTHISISNOCAUSEFORPA

11、NICEXPERIENCESHOWSTHATMOSTAREANXIOUSTOBERESPONSIBLEKNOWLEDGEABLELENDERSTRAINTHEIREMPLOYEESTOLOOKFORTHECAUSEOFDELINQUENCYANDTRYFORSOMEREMEDY,RATHERTHANIMMEDIATELYRESORTTOREPOSSESSIONIFTWOCONDITIONSAREMETATHESCORINGTECHNIQUESHAVESCREENEDOUTTHEOBVIOUSDEADBEATSWHOHAVENOINTENTIONOFREPAYINGBTHELENDERISWIL

12、LINGTOWORKWITHTHEBORROWERTHENTHECHANCESARETHATTHECREDITWILLREMAININGOODSTANDINGHISTORICALLYTHENONPRIMEMARKETHASBEENTHEFAVOREDPRESERVEOFFINANCECOMPANIES,ESPECIALLYLOCALORREGIONALONES,ALTHOUGHSOMENATIONALONESAREALSOACTIVEBANKSHAVEOCCASIONALLYDIPPEDATOEINTHESEWATERS,ANDTHOSEWITHSEPARATECONSUMERFINANCEA

13、FFILIATESHAVESOMETIMESBEENPLAYERSANEWSSTORYLASTYEARHIGHLIGHTEDTHEFACTTHATTHENUMBEROFBANKSINONELARGECITYTHATOFFERSUBPRIMEAUTOLENDINGWENTFROMONETOFOURARECENTBUSINESSMAGAZINEARTICLEHIGHLIGHTEDTHESTORYOFALARGETEXASBANKWHICHWENTINSOLVENT,THENWASREORGANIZED,ANDTOOKONASUCCESSFULNEWLIFEASAFINANCECOMPANYSPEC

14、IALIZINGINSUBPRIMELENDINGASMOREANDMORELENDERSASSESSTHEDEMOGRAPHICSANDANALYZETHERISKCHARACTERISTICS,ADDITIONALPLAYERSARECOMINGINTOTHESUBPRIMEMARKETTHEVERYBIGGESTPROVIDEROFMOTORVEHICLEFINANCE,FORDMOTORCREDITCO,RECENTLYCREATEDANEWSUBSIDIARY,FAIRLANECREDIT,SPECIFICALLYDESIGNEDTOADDRESSTHESUBPRIMEMARKETT

15、HATSEEMSTOSAYTHATSUBPRIMELENDINGISNOWMUCHCLOSERTOTHEMAINSTREAMLEASINGBIGBUSINESS,BIGQUESTIONSINTHEFALLOF1996,THEFEDERALRESERVEBOARDISSUEDANUPDATEDREGULATIONM,CONCERNINGAUTOMOTIVELEASEFINANCE,TOBECOMEEFFECTIVEINOCTOBER1997THEMOVESETTHESEALONTHEFACTTHATLEASINGOFCARSANDTRUCKSHASADVANCEDRAPIDLYFROMAVERY

16、SMALLSIDELINETOASOLIDPOSITIONNEARCENTERSTAGEINTHEWORLDOFAUTOMOTIVEFINANCEIN1990,LEASINGACCOUNTEDFORSOME135OFNEWVEHICLEFINANCIALTRANSACTIONSATTHERETAILLEVELTHEFIGUREREACHED315IN1995,ANESTIMATED35LASTYEAR,ANDCLEARLYGATHEREDVERYSTRONGMOMENTUMFORFURTHERADVANCESINSOMEQUARTERS,THEREAREEVENPREDICTIONSTHATL

17、EASINGCOULDRISETOASMUCHAS60OR70OFTHEMARKETWHILETHATMAYBEEXAGGERATED,ITSEEMSSAFETOSAYTHATALARGESEGMENTOFTHEPUBLICISALTERINGITSBASICVIEWOFWHATHAVINGACARORTRUCKREPRESENTSRATHERTHANTHINKINGOFAPERSONALVEHICLEASANASSETTOBEFINANCEDANDTHENOWNEDMOREORLESSLIKEAHOME,THEVIEWISGAININGTHATAVEHICLEISATRANSPORTATIO

18、NSERVICEANASSETTOBEHELDFORATIME,THENRELEASEDITSEEMSALSOTOSAYTHAT,WITHPRICESOFNEWCARSBEINGRELATIVELYHIGHINRELATIONTODISPOSABLEINCOMEANDSPENDINGPOWER,HAVINGANEWCARTODRIVECANSTILLBEAVIABLEOPTION,USINGADIFFERENTMETHODAMONGOTHERTHINGS,THENEWREGULATIONMDOESTHEFOLLOWINGITADOPTSTHERECOGNIZEDINDUSTRYTERM“CAP

19、ITALIZEDCOST,“WHICHMUSTBEDISCLOSEDTOTHELESSEEASTHEPRICEUSEDTOCALCULATEMONTHLYLEASEPAYMENTSTHISAIDSTHECUSTOMERINCOMPARINGTHECOSTOFLEASINGTOFINANCINGAPURCHASEITREQUIRESLESSORSTOCLEARLYSPELLOUTPENALTIESFOREARLYLEASETERMINATIONITREQUIRESDISCLOSUREOF“THETOTALOFPAYMENTS,“WHICHISTHETOTALAMOUNTTHELESSEEWILL

20、HAVEPAIDBYTHEENDOFTHELEASETHISMAKESITEASIERFORCONSUMERSTOPRICESHOPLIKEVEHICLESWITHLIKELEASETERMSLEASEADVERTISINGMUSTGIVEPROMINENCETOALLKEYFEES,NOTPLAYONEFIGUREPROMINENTLYANDHIDETHERESTINTHEFINEPRINTTHEREGULATIONISSILENTONTHEISSUEOFDISCLOSINGANANNUALLEASERATEASTOTHELATTER,DIFFERENTLESSORSCALCULATETHE

21、ANNUALRATEDIFFERENTLYSOMEAREADVOCATINGAUNIFORMSTANDARDTOBEADOPTEDVOLUNTARILYBYALLLESSORSNATIONWIDEINSOMEQUARTERS,THEFEELINGISTHATLEASINGHASGROWNSOBIGSOQUICKLY,THEREMIGHTBESOMEBUMPSINTHEROADAHEADTHEFIRSTLARGECOHORTOFVEHICLESONTHREE,FOURANDFIVEYEARLEASESISDUETOBECOMINGOFFLEASEBYTHEMIDDLEOFTHISYEAR,AND

22、THELIKELYPRICEEFFECTSINTHEMARKETPLACEAREAMATTERFORSPECULATIONINONECASE,AMANUFACTUREROFHIGHENDVEHICLESHASLETITBEKNOWNTHATITWILLBUYBACKVEHICLESOFITSOWNMAKERATHERTHANSEEDEALERSTURNLARGENUMBERSOFVEHICLESTHATCOMEOFFLEASEOVERTOAUCTIONSWHILESOMETEMPORARYSUPPLYDEMANDIMBALANCEMAYOCCUR,ITSEEMSUNLIKELYTHATITWO

23、ULDBEOFMAGNITUDETOCAUSEASEVEREGLUT,WITHWRENCHINGEFFECTSFORONETHING,LESSORSCANANDDOPURCHASERESIDUALVALUEINSURANCETHISISCOVERAGETHATOFFERSTWOKINDSOFPROTECTIONAAGAINSTTHERISKOFRESIDUALSCOMINGINABOVEACTUALMARKETVALUESATTHEENDOFTHELEASEBAGAINSTTHERISKTHATAVEHICLECOMINGOFFLEASEISUNSALABLESTILL,THECOMINGYE

24、ARPROMISESTOBEANEYEOPENINGONEINFOURMAJORAREASHOWGREATISTHEPUBLICSAPPETITETOCONVERTFROMLEASETOPURCHASEATTHEENDOFTHELEASETERMSWHATEFFORTSWILLDEALERS/LESSORSMAKETOINFLUENCETHECHOICEINTHEDIRECTIONOFCONVERSIONHOWGREATISTHEPUBLICSAPPETITEFORLEASINGUSEDCARSWHATPROPORTIONOFVEHICLESCOMINGOFFLEASEWILLWINDUPON

25、THEUSEDCARMARKETIFTHEEXPERIENCEOFRECENTYEARSWITHSMALLERCOHORTSOFVEHICLESCOMINGOFFLEASEISANYTHINGTOGOBY,BETWEEN25ANDONETHIRDOFTHEMARERETURNEDTOTHELESSORSWHETHERTHATFIGUREREMAINSABOUTTHESAME,GOESUPORGOESDOWN,ISTHEBIGQUESTIONFACEDWITHTHISUNCERTAINTY,MANYBANKSARE“SOURCING“OFFLOADINGLEGALANDRESIDUALRISKT

26、OATHIRDPARTYWHATISUNDENIABLEISTHATTHEPUBLICSAPPETITEFORLEASINGISGROWINGSTRONGLY,ANDTHATAPPETITESHOWSSIGNSOFMOVINGFROMCONCENTRATIONONHIGHENDORLUXURYVEHICLESALONETOAWIDERSPECTRUMSUPERSTORESTRENDORFADWHATEVERTHEANSWERSTOTHEABOVEQUESTIONS,ACERTAINNUMBEROFLEASEDVEHICLES,PERHAPSAVERYSUBSTANTIALONE,WILLMOV

27、ETOTHEUSEDCARMARKETPLACEANDTHATCALLSATTENTIONTOANEWPHENOMENON,WHICHMAYORMAYNOTAMOUNTTOATRENDTHEADVENTOFSOCALLEDUSEDCARSUPERSTORESWITHAMBITIONSTOBECOMENATIONALCHAINSWITHNATIONALBRANDNAMESTHEIDEAITSELFISNOTNEWIN1992,THEFIRSTOFTHESESUPERSTORESMADEITSDEBUT,WITHLOUDPREDICTIONSTHATITWOULD“COMPLETELYSHAKEU

28、PTHEINDUSTRY“WITHINAYEAR,HIGHREPOSSESSIONRATESAMONGOTHERTHINGSCAUSEDITTOGOOUTOFBUSINESSBUTTHECONCEPTDIDNOTGOAWAYITCAMEBACKIN1995,MADESOMEHEADWAYIN1996,ANDSEEMSPOISEDTOBECOMEABIGGERCOMPETITIVEFACTORIN1997THEFREQUENTCHARACTERISTICSOFTHESESOCALLED“HITECH,BIGBOXSTORES“AREEXTREMELYLARGESELECTIONSOFUSEDCA

29、RSANDHIGHVOLUMESELLINGTHEMEPARKATMOSPHERE,INCLUDINGUNIFIEDSIGNAGEANDAREASFORVIDEOENTERTAINMENTFORCHILDREN,ANDSOMETIMESFASTFOODCOMPUTERKIOSKSWITHTOUCHSCREENSFORBRINGINGUPDISPLAYSOFCARSININVENTORY,PLUSRELATEDDATAONPRICESANDFEATURESNONNEGOTIABLEONEPRICESELLINGAVAILABILITYOFSUBPRIMEASWELLASCONVENTIONALF

30、INANCINGFORCARBUYERSFINANCINGOFTHESUPERSTORESTHEMSELVESFROMAVARIETYOFSOURCES,INCLUDINGEXISTINGDEALERSINSOMECASES,BUTESPECIALLYFROMNONTRADITIONALSOURCESSUCHASCONSUMERELECTRONICSSTORECHAINS,WHICHHOPETODUPLICATETHEIRSUCCESSINBUILDINGNATIONALBRANDNAMESINANEWFIELDITISTHEONEPRICEASPECTWHICHRAISESSOMEEYEBR

31、OWS,SINCELARGENUMBERSOFESTABLISHEDDEALERS,PERHAPSAMAJORITY,BELIEVETHISLEAVESNOROOMFORFLEXIBILITYINNEGOTIATIONFORMOST,ITISACLEARBREAKWITHTHEWAYCARSANDTRUCKSHAVETRADITIONALLYBEENSOLDHOWEVER,THEEXPERIENCEOFTHEPASTFEWYEARSDEMONSTRATESTHATATLEASTONESEGMENTOFTHEPUBLICDOESPREFERTHEONEPRICEAPPROACH,ANDITWOU

32、LDSEEMTHATTHISSEGMENTISGROWINGCERTAINLYTHENUMBEROFDEALERSWHOADVERTISEONEPRICESHOPPINGHASINCREASED,WHICHSUGGESTSATTITUDESMAYBECHANGINGINONECASE,ASUPERSTOREWITHPLANSTOBECOMEACHAINGOTAGREEMENTSFROMASUPERREGIONALBANKINTHESOUTHEASTTOPROVIDECONVENTIONALFINANCING,ANDFROMAFINANCECOMPANYTOPROVIDESUBPRIMEFINA

33、NCING,TOITSCARBUYINGCUSTOMERSTHEFINANCINGARMSOFTHEAUTOMOTIVEMANUFACTURERSHAVETAKENAGUARDEDWAITANDSEEATTITUDESOFARBUTFORDMOTORCREDITCOANNOUNCEDITSWILLINGNESSTOMAKERETAILFLOORPLANFINANCINGAVAILABLETOAPLANNEDSUPERSTORECHAINTHROUGHITSSUBSIDIARYPRIMUSAUTOMOTIVEFINANCIALSERVICESBUTTHISISASPECIALCASETHESUP

34、ERSTORESINQUESTION,ALTHOUGHINTENDEDTOBELINKEDASACHAIN,AREACTUALLYFRANCHISESSEPARATELYOWNEDBYFORDNEWCARDEALERSTHELONGRANGEPLANISFORTHECHAINTOCAPITALIZEITSOWNFINANCECOMPANYEVENTUALLY,WITHSERVICINGTOBEPERFORMEDBYPRIMUSESTABLISHEDDEALERS,FORTHEIRPART,HAVENOTBEENIDLEWITHANAVERAGEINVESTMENTOF3MILLIONTO5MI

35、LLIONPERDEALERSHIP,THEYAREFARMORETHANMORNANDPOPOPERATIONS,THEYHAVEROOTSINTHEIRCOMMUNITIES,ANDTHEYCANOFFERDETAILEDPRODUCTKNOWLEDGEANDRELATIONSHIPMARKETINGMANYAREINSTALLINGCOMPUTERKIOSKSOFTHEIROWNWITHTOUCHSCREENFEATURES,ORJOININGREGIONALGROUPSOFDEALERSWHOPOOLTHEIRLISTINGSATKIOSKSANDALTHOUGHAGREATMANYD

36、EALERSALREADYACHIEVEFAIRLYFASTTURNAROUNDONCREDITAPPLICATIONSTOLENDERSVIAFAX,SOMEAREMOVINGBEYONDTHEFAXSTAGETOWEBSITESLIKEWISE,ANINCREASINGNUMBEROFLENDERSHAVETHEIROWNWEBSITES,WHICHTHEYUSEFORACCEPTINGCREDITAPPLICATIONS,THENAPPROVINGLOANS,WITHDATAENCRYPTEDINBOTHDIRECTIONS译文正在改变汽车金融的三大趋势1997年，汽车金融会进一步发展，

37、而且将会有两个重要的趋势一是有更多的非黄金或次级贷款，二是有更多租赁。可能会构成第三个大趋势，即大批量销售的二手车超市的出现。次贷几乎成为主流。一位著名经济学家一直在考察汽车销售的数据，他预计在今年（1996）年底，约有110万个家庭将在宣布破产。他说“这并不全是坏事，这涉及到110万以上次级借款人。”也许他在开玩笑。事实是，使用次级汽车贷款已不再被看作是只在极端情况下才会使用的方法。据统计，它有700亿美元到900亿美元的市场，使用次级汽车贷款越来越成为主流。原因是离婚以及高昂的医疗费用，还有企业裁员导致失业。这些是主要因素，它们已经伤害了数以十万计的潜在借款人信用状况。其中有些是被迫破产，

38、而另一些人设法避开它，但看到他们家庭预算极为紧张，他们还是得这么做。消费贷款违约率的数字在高涨。越来越多的人会成为借款人，但他们仍然需要个人交通的代步工具，并将付出很大努力去获得融资。这使得它们成为次级贷款的候选人。据了解，他们都是高风险的借款人，都有着很差的信用状况。许多人渴望有机会改善自己的信用状况，重新确立良好的信用。正如一位专家所说，“我们借钱给那些需要第二次机会的人，而不是需要最后机会的。”对于贷款人，筛选过程是至关重要的。银行和金融公司在信用卡及其他消费信贷方面，有很丰富的经验，最近几年有这样的趋势，即用电脑信用评分来为不同的类别的信用风险分类，然后对不同的细分市场分配不同的费率和

39、条件。信用评分有快速、一致、客观等优点，根据现实生活中不同类别的借款人来评价。汽车保险公司不会自动取缔有超速违规记录的司机。他们在不同的风险类别分类，并给予相应的收费。通常情况下，借款人在购买他们所选择的车辆时，是有限制的。在次贷风险的情况下，他们将被分配较高的利率和/或费用，贷款人可以要求一个相当大的下跌作为车辆的总价值的比例支付。一旦借款人已表现出负责任的借贷行为，并偿还足够车辆转售价值型股票，他们的信用风险就会降低。关于信用评分技术的进一步完善，一些银行已有分层定价安排，不同的分数对应不同的贷款期限长分配。不可避免地是，一定比例的次级借款人在履行付款时，可能会遇到麻烦。原因是经验表明，大

40、多数是急于负责；有知识的贷款人培训员工寻找犯错误的原因，并尝试一些补救措施，而不是立即采取收回。历史上，特别是地方或区域性的非黄金市场一直被金融公司的青睐。银行偶尔也涉足，并有独立的消费金融分支机构的。去年的新闻报道强调了一个事实，在一大型城市，提供次级汽车贷款的银行的数量从一增加到了四。最近商业杂志的一篇文章强调了得克萨斯州一家大型银行破产了，然后重组，然后摇身一变作为提供次级贷款的专业汽车金融公司。随着越来越多的贷款人的人口统计数据和分析评估的风险特性的出现，越来越多的人们正在进入次级市场。规模较大的福特汽车信贷公司，最近建立了一个新的子公司（费尔莱恩信贷），专门用于解决次贷市场。这似乎可

41、以说，次级贷款是现在更接近主流。租赁是大问题。1996年秋天，美国联邦储备委员会颁发了一个关于汽车租赁融资的条例，并将在1997年10月生效。这一举措使得汽车和卡车租赁在汽车金融领域牢固地位进一步确立。1990年，租赁在一些新的金融交易车辆零售层面上占135。在1995年这一比例达到315，估计有35，并且进一步发展势头非常强烈。在某些方面有预测说，可能上升到高达60或70的市场份额。虽然这可能是夸大了，但似乎可以说，这一市场真的很大。可以得出的观点是要在一段时期内持有资产，然后再释放。除此之外，新的规章执行以下操作它采用了公认的行业术语“资本成本”，必须披露与用来计算月租费的价格承租人。这有

42、助于融资租赁购买的客户。它需要清楚地阐明出租人提前租赁终止罚款。它需要“国际收支总额”，这是支付披露，总金额将有承租人在租赁结束时披露。租赁广告要突出各主要收费。本办法未规定披露年度租赁费率的问题。至于后者，不同出租人年率计算不同。有些人主张统一的标准。在某些方面，这么大而快的增长可能会在未来发展的道路上碰到些困难。在一个案例中，高档汽车制造商已经让人们知道，他们将回购自己的车辆，而不是看经销商转向租赁车辆。虽然一些临时的供求失衡可能会出现，它似乎是不可能的，它将有不好的影响，甚至导致严重过剩。一方面，出租人可以做剩余价值购买保险，这里提供了两种类型的保护覆盖面首先，反对在未来的市场价值高于实

43、际在租赁期结束残差风险；然后，对风险即将关闭的汽车租赁滞销。如果关闭的小同伙租赁车辆，去除了25和三分之一的三分之一将返回到出租人。不管这个数字上升或下降，它一直是个大问题。面对这种不确定性，许多银行都将风险转嫁给第三方。无可否认的事实是，市民对租赁胃口强劲，而且食欲显示从高端豪华车移动到一个单独的浓度或更广泛的迹象。二手车超市会成为主流租用车辆很被看好。请注意一个新现象，这可能会构成一种趋势所谓的二手车超市的出现，成为全国连锁品牌。这个想法本身并不新鲜。1992年，这些超市首次提出，“它将彻底动摇了这个行业。”但这个概念并没有消失。它的到来早在1995年，在1996年取得一些进展，似乎有望成

44、为1997年一大竞争要素。这些所谓的“高科技，大量贩店”频繁的特点是使用大批量销售的选择。主题公园的氛围，包括统一的标志和有为儿童提供视频娱乐，甚至还会有快餐。触摸屏电脑亭，有价格和功能相关的数据。非流通的价格销售。可用性副总理以及为购车者的传统融资。从各种来源，包括现有的经销商，但来源是非传统的，如消费类电子产品连锁店。对于大多数人来说，一个汽车和卡车的销售方式打破历来是明确的销售方式。然而，过去几年的经验表明，至少有部分市民不喜欢一个价格的做法。在一个案例中，计划将连锁超市作为在东南亚地区提供传统融资。汽车制造商的融资部均采取了谨慎观望的态度。福特汽车信贷公司宣布通过其子公司普里默斯汽车金融的服务，将零售楼面计划筹资计划提供给连锁超市。这是一个特殊情况实际上是新的专营权由福特汽车经销商拥有。经销商都没有闲着。平均每个经销商投资300万至500万，他们在社区扎根，他们可以提供详细的产品知识和关系营销。许多人为自己的电脑安装亭触摸屏功能。很多经销商在周转信贷时会使用到传真，甚至是电脑。越来越多的贷款人有他们自己的网站，他们接受信贷申请，然后在两个方向上对数据进行处理。