"Zero down payment" car purchase
, please keep your eyes open to avoid the "minefield"
□ Our reporter Huang Hui
□ Correspondent Tao Ran
With the improvement of people's living standards, for more and more families, cars have become the second rigid demand in people's economic life after housing.
Due to the gradual liberalization of consumer concepts and financial policies, many consumers choose to pay by credit card instalments when buying cars. For this reason, some auto sales companies support a new type of loan car purchase model called "zero down payment" to attract people's attention and attract customers.
The Second Financial Court of Nanchang City, Jiangxi Province found through investigations that the auto installment loan cases in this court were frequently occurring.
From 2018 to 2020, 189, 221, and 264 cases of this type were accepted, and the number of cases is on the rise.
In such cases, there were six cases of "zero down payment" by car buyers, and there are huge legal risks that should be taken seriously.
The so-called "zero down payment" for car purchase means that the car buyer does not need to pay a penny, the down payment is advanced by the car sales company or a third-party guarantee company, and the mortgage is issued by the bank to complete the car purchase.
It seems that a pie is falling in the sky, but it is actually a trap set up by lawbreakers. If you are not careful, you may end up with a "car and money empty".
Therefore, how to avoid the "minefield" in the field of auto consumer loans?
What are the routines for "zero down payment" to buy a car?
How can car buyers effectively defend their rights?
To clarify these issues is of positive significance for safeguarding the legitimate rights and interests of car buyers and promoting the long-term and healthy development of the automobile consumption field.
Man enters a set of "car and money are empty"
Recently, the Second Financial Court of Nanchang City concluded a case involving car loan and credit card disputes.
Han believes in the promise of "zero down payment". After obtaining the vehicle, he defaulted on the down payment from the guarantee company, which caused the vehicle to be deducted. He also filed a lawsuit over the bank mortgage loan overdue.
After Han paid off the bank loan, the bank applied to the court to withdraw the lawsuit.
It is reported that due to car purchase needs, Han signed the "Credit Card Car Special Installment Guarantee Contract" with the bank, stipulating that the 20% down payment will be paid by Han himself, and the remaining car purchase will be paid through the special instalment service for car purchase by overdraft and guaranteed The company provides guarantees to the bank for the special installment payment business for credit cards and automobiles.
Because Han did not return more than 70,000 yuan of principal and interest on schedule, the bank sued Han and the guarantee company to the court.
Han appeared in court to respond, but the guarantee company refused to respond.
During the trial, Han said that because of his lack of financial resources, he heard that he could buy a car with "zero down payment", so he provided identity information and other materials to the bank to handle the car installment business according to the requirements of the guarantee company.
The guarantee company first advances the entire purchase price (including a 20% down payment and various insurance premiums, taxes, etc.) to the dealer, and agrees that the purchaser shall bear the high service cost.
Then the bank will directly issue the remaining 80% of the mortgage loan to the guarantee company's account in accordance with the contract, and the car buyer will repay it on a monthly basis.
After Han obtained the vehicle, the guarantee company drove the vehicle directly because he failed to return the above-mentioned advance payment to the guarantee company in time.
Han and the guarantee company neglected to negotiate the return of the car.
So far, Han had neither got the car, but also had to go to court, leaving a large amount of bank debts on his back in vain.
Because Han had no objection to the bank loan in arrears, and the interest rate was high, in order to prevent the loss from expanding, Han went around raising funds to return the bank loan, and the bank immediately applied to withdraw the lawsuit against Han.
Regarding the guarantee company’s seizure of vehicles with Han’s advance payment, Han said that he would protect his legitimate rights and interests through legal channels.
The routine is full of risks
The survey found that this type of "zero down payment" new loan car purchase model has the following characteristics:
——Nominally "zero down payment" is extremely tempting.
It looks like a pie in the sky, but it's actually a carefully set trap.
Some guarantee companies, such as the guarantee company in this case, often drove the vehicle directly because of the down payment, insurance premiums, taxes, or the quality of the car, or the poor navigation signal, etc.; some used "zero down payment". As a gimmick, they trick car buyers into getting the bait, and then they use car mortgage financing and seize the car at the same time; in order to make up for the loss of "zero down payment", some car dealers carry out bundling sales and forcibly recommend high-value car insurance and accessories to car buyers. people.
——I cannot shirk the responsibility for non-standard banking business.
Due to the need for business expansion, some banks turned a blind eye to "zero down payment" car purchases.
Often, without examining whether the car buyer paid the down payment with his own funds, the mortgage loan is directly issued to the guarantee company instead of the dealer’s account, which violates the principle of special funds and condones the “zero down payment” auto installment loan. Pattern generation.
"The'zero down payment' auto installment loan model has great legal risks. Car buyers must keep their eyes open to avoid the'minefield'." The law officer introduced.
First of all, car buyers may be "losing money on the car."
Once the car buyer fails to return the mortgage payment from the guarantee company, he will fall into a trap like Mr. Han in this case. The car will be forcibly seized and the car will be forcibly seized, causing huge economic losses.
Second, the pressure on banks' non-performing assets has increased.
Most victims do not have a stable source of income, and overdue default has become a high probability event.
This model increases the risk of bad debts in the banking industry, causing banks to face a greater increase in the non-performing rate, increase in non-performing assets and pressure on disposal.
"In addition, unstable factors are very easy to breed, which may lead to litigation-related petitions and form new unstable factors." The law officer said that if the guarantee company forcibly detains the car, it will inevitably cause verbal and physical conflicts with the car buyer, and may even cause public order and public security. Criminal case.
And the huge loss of car buyers "car money is empty", some of them even endanger their survival, and may therefore petition to defend their rights.
Take measures to prevent traps
It is understood that the risks and hidden dangers of "zero down payment" car purchases have long aroused the attention of the relevant authorities and explicitly prohibited them.
According to the "Notice on Adjusting Policies Concerning Auto Loans" issued by the People's Bank of China and China Banking Regulatory Commission on November 9, 2017: 80%; the amount of second-hand car loans granted shall not exceed 50% of the price of the car purchased by the borrower".
The newly revised "Auto Loan Management Measures" issued by the People's Bank of China on January 1, 2018 again stipulates that: "The maximum percentage of loans for self-use traditional power vehicles is 80%, and the maximum percentage of loans for self-use new energy vehicles is 85%."
Therefore, when car buyers buy a car through a car loan, they are not allowed to buy a car with zero down payment, but need to pay at least 20% of the down payment.
"There is no free lunch in the world. The majority of car buyers must keep their eyes open, maintain a high degree of vigilance and rational consumption, and do not believe in buying a car with a'zero down payment.' It is reminded that once car buyers fall into the "zero down payment" trap, they should preserve relevant evidence and use legal weapons to recover their losses through timely reporting to the public security organs and court prosecutions.
In addition to car buyers staying vigilant and safeguarding their rights in accordance with the law, strengthening financial supervision and cracking down is essential.
On the one hand, the financial regulatory authorities have the duty to strengthen the supervision and management of the field of automobile installment consumption, severely crack down on "zero down payment" violations, and establish a long-term mechanism for the healthy development of automobile installment consumption.
Financial institutions have intensified the review of auto installment loans to ensure that car buyers have their own funds to pay the down payment, and ensure that the special funds for auto installment loans are used exclusively, and zero tolerance for "zero down payment" violations.
On the other hand, the people's courts have strengthened effective inspections of the legality and authenticity of automobile consumer loans, and promptly suspend the trial or execution of criminal clues, and transfer relevant clues and materials to the public security organs for processing.
The public security organs should promptly report the current economic crime situation, especially the fraudulent methods and case analysis for auto consumer loans, and strengthen the pertinence of prevention; for suspected economic crimes, the public security organs should promptly file a case for investigation and hold the relevant personnel criminally responsible.