SAIC-GMAC Automotive Finance Company Limited(shang qi tong yong qi che jin rong you xian ze ren gong si )

SAIC GM Finance Co., Ltd

Saic-gmac is a joint venture jointly established by SAIC Finance Co., Ltd., gmacukplc (a wholly-owned subsidiary of General Motors) and Shanghai General Motors (SGM). SAIC General Motors Finance Co., Ltd. is one of the first auto finance companies operating in China.

Company profile

Saic-gmac, established in August 2004 and headquartered in Shanghai, China, is an auto financing company approved by China Banking Regulatory Commission. The registered capital of the company is RMB 1.5 billion, which is contributed by SAIC Finance Co., Ltd., gmacukplc (a wholly-owned subsidiary of General Motors) and Shanghai General Motors Co., Ltd. By the end of 2015, the company's assets scale was nearly 70 billion yuan.

Since its establishment, the company has provided a full range of auto financial services to more than 2360000 auto consumers nationwide with advanced international auto financial management experience and technology, covering more than 7000 cooperative auto dealers in more than 350 cities nationwide. After years of construction and development, the company has built a marketing network with wide coverage, rich business varieties and first-class service level, which is firmly in the leading position in the domestic auto finance industry.

SAIC GM Finance Co., Ltd. is the first company in China to open online auto loan application business. Customers only need to log on the official website of SAIC GM Finance Co., Ltd. and fill in simple personal information to successfully apply. Within 24 hours of online application, professional customer service personnel will provide them with high-quality service. At the same time, personalized loan products can be customized according to customers' needs.

Company information

The registered capital is 1.5 billion yuan

The headquarter is located in block F, Fortune Plaza, No. 160, Puming Road, Pudong, Shanghai, 200120

-Chairman: Gu Feng

-General manager: Yu Yarui

-Coo: Li Wenguo

Company opening mileage

-On March 29, 2000, GMAC submitted the cooperation intention report to SAIC finance company

-In July 2000, SAIC finance and GM finance signed a non disclosure agreement

-On March 23, 2001, the two sides of the joint venture signed a memorandum of understanding and cooperated to complete the feasibility study report

-On August 16, 2001, the joint venture project of SAIC GM Finance Co., Ltd. passed the expert evaluation of the State Economic and Trade Commission

-In March 2002, the two sides began to negotiate the contract and articles of association

-On August 13, 2002, the two sides signed a joint venture contract, articles of association, technology license contract, trademark license contract, secondment contract and management service contract

-On April 10, 2003, the joint venture working group was set up and worked in Tomson financial building

-On October 4, 2003, the CBRC promulgated the "measures for the administration of auto financing companies"

-On November 11, 2003, GM financial services and SAIC formally submitted the "application for preparation"

-On December 24, 2003, the China Banking Regulatory Commission (CBRC) officially approved the "preparation application"

-On June 10, 2004, China Banking Regulatory Commission (CBRC) accepted the "application for business opening"

-On August 3, 2004, SAIC GM Finance Co., Ltd. was approved by China Banking Regulatory Commission

-On August 10, 2004, SAIC GM Finance Co., Ltd. obtained the financial institution license issued by China Banking Regulatory Commission

-On August 18, 2004, the company held an opening ceremony and started business

Corporate identity

Business operation

-Provide car loan business for end users

-Apply for vehicle loans from auto dealers

-Operating equipment loan (including exhibition hall construction loan, spare parts loan and maintenance equipment loan, etc.)

-Other credit business approved by China Banking Regulatory Commission

corporate performance

In 2015, the company completed a total of 570000 retail loan contracts. Since its establishment, the company has served more than 2.36 million car buyers, with total assets of nearly 70 billion yuan, once again setting a new height in the industry. In 2016, the company also added online pre credit service for online customers.

As of September 2014, the company has cooperated with nearly 7000 retail dealers, covering more than 350 cities in China, providing a full range of auto financial services for 1.6 million auto consumers.

As of December 2012, the business scope of SAIC GM finance company has expanded to more than 300 cities in 30 provinces in China.

On October 18, 2010, SAIC GM Finance Co., Ltd. issued a total of 1.5 billion yuan of financial bonds, which is the first financial bond issued by an auto finance company in China. The main underwriters of this bond issue are CITIC Securities and Bank of China, and the bond term is three years. The successful issuance of the bonds may open the era of diversified financing channels for auto financing companies.

In December 2009, the credit assets of SAIC GM finance company exceeded 18.2 billion, covering 208 cities and 935 dealers.

By the end of July 2009, the financing business of SAIC GM finance company has covered more than 170 cities in China. Since the first half of 2009, SAIC GM Finance Co., Ltd. began to provide retail financing services for the products of SAIC GM Wuling.

In December 2008, the credit assets of SAIC GM finance company exceeded 12.2 billion yuan, covering more than 170 cities and 800 dealers.

In January 2008, with the approval of the China Banking Regulatory Commission (CBRC) and the central bank, the company issued about 2 billion yuan of Tongyuan 08 phase I asset-backed securities in the inter-bank bond market and obtained full subscription. At the same time, it was approved by the Shanghai headquarters of the central bank to officially join the interbank market.

From January to August 2007, SAIC General Motors Finance Co., Ltd. has signed more than 79000 retail loan contracts, and the number of applications received by the company every month for retail car loans is also growing. The company has more than 350 employees.

By the end of August 2006, SAIC GM Finance Co., Ltd. had provided wholesale credit services to 315 domestic auto dealers.

Loan products

1. Worry free smart loan:

It is commonly known as "half loan, half payment"; the final repayment of the loan is 50%. At the end of the loan period, there are three options: pay off the balance in full; apply for a 12-month extension; and replace the second-hand car.

2. Smart Loans:

The loan will be divided into two parts and will be paid back in the down payment and the end payment respectively. At the end of the loan period, there are three options: pay the smart balance in full; apply for a 12-month extension; and replace the used car.

3. Equal repayment:

During the loan period, the repayment amount of each period is the same. The loan term is 13-60 months, and the down payment is as low as 20%. According to the customer's personal qualification and the car purchased, we will provide a specially designed loan scheme

4. Segmented Repayment:

The loan is divided into several segments, each of which contains several repayment periods; in each single segment, the total repayment amount of each period is different; at the end of the loan period, there are three options: pay off the balance in full; apply for a 12-month extension; and replace the second-hand car

According to different repayment methods, SAIC GM finance company provides a variety of loan packages to choose from: worry free smart package, smart smart package a, smart smart package B, easy to enjoy security package a, easy to enjoy security package B, and easy to buy package. At the same time, personalized loan products can be customized according to the needs of car buyers.

Chinese PinYin : Shang Qi Tong Yong Qi Che Jin Rong You Xian Ze Ren Gong Si