Car finance refers to the ability of consumers to apply for preferential payment methods from car finance companies when purchasing a car, and choose different car models and payment methods according to their own needs.

It involves financial services in various aspects of the automotive industry, including research and development, design, production, circulation, and consumption. It is a channel for the flow of funds in the automotive industry, including fundraising, credit utilization, mortgage discounting, financial leasing, and related insurance and investment activities.

Compared to banks, automotive finance is an emerging choice for car purchases. At present, there are five ways for personal car consumption loans: banks, car finance companies, vehicle factory finance companies, credit card installment purchase, and car financing leasing.

Among them, car finance leasing is a service that replaces "rent" with "sale". It first appeared in the United States and has now become the mainstream car finance service in the United States.

It is different from traditional financial loans for car purchases, as it rents the vehicle to customers and ownership belongs to the automotive finance company. When the lease expires, the ownership of the vehicle belongs to the customer.

The emergence of automotive finance has changed the traditional way of purchasing cars and provided consumers with more choices. Through loans provided by automotive finance companies, consumers can make installment payments, alleviate the pressure of purchasing a car, and choose a suitable car model based on their own economic situation.

In addition, automotive finance also provides value-added services such as insurance and investment activities, providing consumers with more comprehensive financial services.

It is worth noting that compared to banks, the interest rates and fees in automotive finance may be higher, and consumers need to choose the most suitable way to purchase a car based on their own situation.