mba project report on car loan
#1

Hi! I am tanvi doing internship in cardekho.com. I am pursuing Mba and i want to get information about used car loan business. Please help me by sharing all the details and the problems faced in procuring the loan by banks.
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#2

The subject of auto finance comprises the different financial products that allows someone to purchase a car with any agreement other than a one time payment. Providing auto financing by a third party provider allows the acquirer to provide and raise funds to compensate the initial owner, be it a distributor or manufacturer.


Car financing is necessary for both individuals and businesses. All types of financial products are available for each industry, however the market share by type of financing for each sector differs, in part because the business contract hire can provide tax benefits and cash flow to companies.

Personal Car Finance is a complete subsector of personal finance, with numerous products available. These include a direct car loan, purchase lease, personal rental contract (car rental) and personal contract purchase. Therefore, auto financing includes, but is not limited to vehicle leasing. These different types of auto financing are possible because of the high residual value of the cars and the second hand car market, allowing for other forms of financing beyond pure unsecured loans.

Auto financing came about because the price of cars was out of the reach of individual buyers without borrowing the money. Financing for the financing of personal automobiles is provided by a retail bank or a company specializing in auto financing. Some automakers own their own car finance weapons, such as Ford with the Ford Motor Credit Company and General Motors with its financial services arm of GMAC, which has now been renamed and renamed as Ally Financial. Indirect car lenders can set a risk-based interest rate, or "purchase rate," which it conveys to car dealers. Car companies can allow their car dealers to charge a higher interest rate when they end the deal with the consumer. This is often called a "private label". Trademarks can generate compensation for dealers and some (GM's Ally and Honda) have found that they use discretion to charge consumers different rates regardless of consumer creditworthiness.

The financing provider can maintain ownership of the car during the contract period for certain types of financing. This temporary ownership of a third party and subsequent lease to the acquirer is much more typical for business assets than private assets, with the leasing option being the main exception for private consumers. Financing is organized either by the dealer providing the car or by the independent financial brokers who work on commission.
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