What is the difference between financial leasing and mortgage loan, which is more affordable?

In fact, the biggest difference is the transfer of ownership in the process of use. Personally, I think financial leasing is more practical than mortgage. Financial leasing can freely decide whether to own the property when it expires or to terminate the lease early during its use. However, mortgage is more troublesome. If the expectation changes and the enterprise needs to terminate the project or quit the operation, then the trouble will come. Choosing to terminate repayment or mortgage refinancing may have an impact on the production, operation and reputation of the company or enterprise. Of course, mortgage may have an advantage over interest rate repayment. Financing lease means that the lessor purchases the leased property selected by the lessee for the purpose of financing, and then rents the leased property to the lessee for a long time on the condition of collecting rent. The basic characteristics of financial leasing are: first, the lessee chooses the investment object to be leased, and the lessor pays the fee. Second, the lessee has no right to terminate the contract in advance on the condition of returning the lease item. Third, medium and long-term leasing. The absolute term of all financial leasing transactions is more than one year. Fourthly, financial leasing is a tripartite contract, namely, lessee, lessor and supplier, trade contract and financial leasing contract. Financial leasing is becoming a new investment and financing mechanism. After years of development, it has developed from the most basic direct purchase financing lease to sub-financing lease, after-sale leaseback financing lease, entrusted financing lease, project financing lease, sales-oriented lease and other forms. At present, there are two main types of companies that carry out financial leasing of construction machinery and equipment: one is manufacturer leasing companies with manufacturers as the main shareholders, and the other is capital leasing companies with independent investors as the main shareholders. Because the former is very familiar with the industry and belongs to a professional leasing company, its operation is relatively simple and it is the main force of construction machinery leasing. The latter belongs to a comprehensive leasing company and is unfamiliar with the industry, so the operation and operation process are relatively complicated. Because financial leasing is a new term for many people, they don't understand its connotation and are confused by its gorgeous appearance. In fact, the financing lease of construction machinery is very simple. It is a tool for credit sales. In essence, manufacturers provide financial services at the time of sales, so that enterprises with insufficient funds can take the lead in using the equipment, and then use the generated profits to purchase the ownership of the leased items in installments (paying rent in each installment). Secondly, it is necessary to know what requirements the leasing company has for potential leasing enterprises, so that enterprises can know whether they have the conditions to use the leased items. First of all, let the leasing company know the basic situation of the enterprise, legal subject qualification and operating conditions; Secondly, the profitability of the project and the guarantee of fund recovery; The third is the guarantee strength of leasing enterprises for the use of leased items. The characteristics of financial leasing of construction machinery are as follows: most of the tenants are self-employed and need to have enough property as unlimited joint liability guarantee to ensure the repayment of rent; Fourth, there must be a lease deposit of about 30%, and the leasing company will not make financial leasing for enterprises without money. The benefits brought by financial leasing to enterprises are more and more recognized, and many enterprises claim to carry out financial leasing for construction machinery. However, in practice, it is difficult to communicate and operate due to misunderstanding among lessors, lessees and suppliers. There are several misunderstandings in financial leasing: 1. Potential lessees and suppliers come to talk about interest rates with leasing companies. It seems that the leasing company is a bank or an ATM. First, you can't get a loan from the bank before you forget to go to the leasing company for financing; Second, I don't know what the leasing company provides is leased goods, not funds. The lessee doesn't know what interest rate to talk about. It is impossible to get interested in things. Third, the bank has strict examination, low efficiency and high opportunity cost. The leasing company is lax in examination, high in efficiency and low in opportunity cost. In fact, the leasing company is not a fool. Their requirements are not lower than those of banks, but they focus on different angles, giving people the illusion. If the potential lessee doesn't realize this, it will certainly encounter obstacles. Second, confuse the lease deposit with the mortgage loan. In order to control the risk, the leasing company needs the lessee to provide a deposit when leasing the equipment to the lessee by means of financial leasing. Usually the lessee thinks this is the deposit of the mortgage loan. In fact, it has a completely different meaning in law. The lease deposit is a guarantee to repay the rent. Once the lessee is unable to repay the rent, the leasing company has the right to use the lease deposit to replace the rent due, and then recover from the lessee to pay the rent in the later period of the lease. The lessee can never acquire the ownership of the item before the lease expires. The down payment in mortgage is a part of the advance payment for the purchase of equipment, and from a legal point of view, it has obtained part of the ownership of the property. This is also a reason why the risk of "(car loan)" is far greater than that of (financing) leasing. This is also an important reason why people turn their attention to leasing after banks stop car loans. It is precisely because of the separation of ownership and use right of the leased property in financial leasing that the financing difficulty of small and medium-sized enterprises is solved. This will be the mainstream development direction in the investment and financing field of construction machinery in the future. Third, because financial leasing is not a loan, the lessee does not have to pay rent to the leasing company when the equipment is idle. Why not return the leased items to the leasing company first? Actually, it is not. In financial leasing, the leased property is selected by the lessee, and the lessor only buys it for leasing. The lessor's purpose is not to actively choose to buy equipment and then lease it. Therefore, financial leasing is usually irrevocable. Financial leasing is more like installment payment, but ownership can only be transferred to the lessee after all the rent has been paid. But this does not affect the lessee's use, income and depreciation. Therefore, the lessee cannot terminate or renew the contract at any time. Four, it is generally believed that the cost of financial leasing is higher than that of loans. Because the leasing company's source of funds is bank loans, it is bound to increase the cost of a financing link. On the surface, this is an indisputable reality. But this is not necessarily the case. First, financial leasing has the function of shortening the depreciation period in taxation, which can help enterprises reduce income tax expenditure; The opportunity cost of the second loan is much higher than that of financial leasing, which is easily overlooked by ordinary people. Third, according to the current policy, the bank loan interest rate is not capped. The actual interest rate obtained by enterprises from banks is not necessarily lower than that obtained by leasing companies from banks. Considering the comprehensive cost, the cost of financial leasing is not necessarily higher than that of loans. Five, financial leasing is to provide financial services for the sales of equipment manufacturers. There is nothing wrong with this, but the main reason why leasing companies do this is that they need a safe, mobile and profitable fund operation platform. Then, when seeking financial leasing companies to provide services, manufacturers should first consider whether they can meet the basic requirements of leasing companies. One of the characteristics of financial leasing is that the lessor not only grasps the creditor's rights of rent receivable, but also grasps the real right of the leased property. Property right is the guarantee of creditor's rights, and leasing companies pay attention to the risk control ability of leased property in the process of operation and the disposal ability after recovery. And these can only be provided by the manufacturer of rental items. If your equipment does not have these functions, it is regarded as an equipment category that is not suitable for financial leasing. Most of the products serviced by leasing companies meet the following conditions: First, control the operation of the leased property. For example, some equipment manufacturers have installed GPS for frequently flowing construction machinery and equipment, which can locate and stop at any time; The second is to provide a part of the account period, and the leasing company bears the risk; The third is to provide renovation and repurchase protection for the target. Six, providing financial leasing to SMEs is too risky. Financial leasing is to achieve the purpose of financing by melting things. Therefore, the leased enterprise will never get the money, but will pay the rent to the lessor. This controls the risk of random flow of funds. Secondly, financial leasing should charge more than 30% of the deposit, while retaining 100% of the property rights. Once there is a problem, the biggest loss is the lessee. Moreover, for the leasing projects of small and medium-sized enterprises, the lessor generally requires the legal representative of the lessee to use family property, vehicles and other valuable assets that can be realized at any time as collateral for joint liability. Once there is a problem, the lessee will lose everything and put an end to malicious breach of contract. Finally, the loan funds cannot be insured, but the leased property can be insured by the lessor for the beneficiary. In case of trauma, the insurance company will pay the leasing company first. For investors, when the competition for good projects is fierce, financial leasing companies are a good wholesale market for funds. Seven, you want money, the bank can't find a financial leasing company. Never treat a financial leasing company as a big boss or banker. Don't be empty-handed, regard the financial leasing company as a second-hand dealer in capital operation. Financial leasing belongs to service trade, and financial leasing companies have more functions as asset management companies that integrate social resources. Don't look at the capital of a financial leasing company. The funds they use for leasing must be found in the capital market. Otherwise, sustainable development is impossible. Therefore, the requirements of leasing companies for potential leasing companies and suppliers are more for the consideration of investors. Without this, they will lose the source of funds and the opportunity to provide services to tenants and manufacturers. The financial leasing company is not a charity. To provide financial leasing services for enterprises, we must first pay attention to the legitimate operation of enterprises. Especially whether the positive cash flow is sufficient and whether it can cover the rent that can be repaid in the future. Therefore, financial leasing companies only do "icing on the cake" projects, not "timely assistance" projects. If you can come up with the deposit, the leasing company will consider providing services for you. Similarly, whether the legal representative's family has a large amount of realizable assets, plus whether the enterprise's assets are enough to cover the rent payable, and the authenticity of the assets you provide. If you are a small boss who hasn't made a fortune yet, you still need to try to find a leasing company, otherwise it is a waste of time. This is the "Mattel effect" in economics. The rich are richer and the poor are poorer. The information provided by the lessee to the lessor is also prepared around the above contents. First of all, the quality of products and the reputation of enterprises are very concerned by leasing companies. Because once the leased object often has problems in operation, it not only increases the operating expenses of the lessee, but also increases the risk of rent withdrawal. The second is the value-preserving curve of equipment. In order to prevent the risks brought by the lessee's problems to the lessor, the lessor must pay attention to the fair market value when disposing of the equipment. In the case of imperfect second-hand market of construction machinery, the repurchase commitment of manufacturers is very important. Of course, this commitment is not only a paper document, but also a part of the final payment when necessary. What annoys the leasing company most is that after the supplier signs the contract with the leased enterprise, the lessee can't afford the money and seeks financing from the leasing company. Because it is easy to cause the loss and emptiness of lease property rights. Losing property rights means that it is no different from loans. The risk of loan is added to the leasing company, and the security of leasing becomes empty talk. If financial leasing companies want to develop continuously, they must be combined with the capital market. The lessee and the supplier must also see whether the leasing company has the ability to refinance before entering the negotiation link, otherwise it will take a long time to talk, consuming manpower, material resources and financial resources, and there is no result. The deification of leasing companies has become a thing of the past. Investors should first look at the corporate governance structure of the leasing company, and enterprises suspected of misappropriating shareholders' funds will inevitably not provide funds. Secondly, the leasing company's enterprise management and risk control capabilities are the minimum conditions. The third is how the business performance is. If the scale is not enough, there will not be much funds provided, and the comprehensive risk control is not strong enough. Even if funds are provided, they are high-cost funds. Fourth, let investors know the overall situation of the construction machinery industry. In order to wholesale funds, investors are usually willing to provide funds for the development of better industries. The same is true in the field of construction machinery. Therefore, it is necessary to provide the growth rate and average profit rate of the industry. Of course, it also depends on these indicators of leasing companies. Fifth, it depends on whether the lease contract is flawed. If the leasing project wants to circulate in the capital market, its safety and profitability must be good. If the lease contract can't guarantee these, there is no problem, but because other investors don't understand the industry, they lose their liquidity. When it comes to financial leasing, leasing companies usually simply publicize what their business processes are like. A successful project must include risks and benefits. In order to achieve this goal, the most important thing is that all parties communicate with each other. Without these, it is impossible to make progress in project development. Secondly, the structural design of the project. A good structure can not only bring benefits to both parties, but also increase the ability to comprehensively control risks. All structural designs are based on investigation and analysis. Communication is mainly reflected in whether the information is symmetrical. According to the market principle, the fairest transaction is when the information is symmetrical. But in fact, information can't be completely symmetrical. Therefore, the authenticity investigation must participate in the project negotiation. How to conduct authenticity investigation, reflecting the foundation of a company. First of all, the evaluation of information should have evidence. No matter what the enterprise says, it is necessary to produce evidence, especially physical evidence. A statement without evidence is untrue at best. Then there was a surprise attack. When many enterprises talk about projects, they always say that they have time to see them. But when you decide to see it, he will make a lot of preparations. Even if there is evidence, the authenticity of some evidence itself is questionable. If you suddenly go to an unprepared place and find that everything is so perfect, it shows that this company pays great attention to details. What are you worried about for such a company? The third is to find indirect evidence. For small and medium-sized enterprises, it is generally financial confusion, and the evidence they provide is usually unreliable. But some enterprises are really powerful, depending on how much property they have. If not, it means it is not true. "Mortgage" has two meanings: mortgage and installment repayment. It means that the mortgagor transfers the property right of the property to the mortgage beneficiary (bank) as a repayment guarantee, and after repayment, the mortgage beneficiary transfers the property right of the property back to the mortgagor. The guarantee method of construction machinery mortgage loan is more flexible: the purchased vehicle is mortgaged, the dealer provides full guarantee, and the insurance company provides performance guarantee insurance; For the mortgage of purchased vehicles, the manufacturer provides full repurchase guarantee or takes full property (including real estate and valuable documents) recognized by the bank as mortgage. Borrowers of China Everbright Bank's construction machinery mortgage loan can use two monthly repayment methods: equal principal and interest repayment method and average capital repayment method. According to the regulations of the People's Bank of China, the current short-term loan interest rate is 5.04% within six months (including six months), 5.3 1% from six months to one year (including one year), 5.49% from one to three years (including three years) and 5.58% from three to five years (including five years). In particular, lenders should pay attention to the fact that banks have the right to float the loan interest rate within 30% according to the loan risk.