localcollectorspost.org http://www.localcollectorspost.org My WordPress Blog Mon, 13 May 2019 17:26:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.2 Want to Apply for a Car Loan? http://www.localcollectorspost.org/want-to-apply-for-a-car-loan/ http://www.localcollectorspost.org/want-to-apply-for-a-car-loan/#respond Fri, 10 May 2019 17:18:20 +0000 http://www.localcollectorspost.org/?p=49 Read More »]]> What is a car loan?

Car loans are included in Motor Vehicle Loans (KKB), which is one alternative financing for obtaining a new or used car or motorcycle with an installment system.

The general agreement in the CLA concerns two parties, where the lender (the creditor) approves the loan to the recipient of the loan (the debtor) to buy a motorized vehicle.

The creditor will receive the money back along with certain benefits in exchange for the loan service which is usually in the form of interest.

Credit can be submitted to banks or other financial institutions that provide these loan products. Generally, the guarantee used in the KKB is the vehicle itself, so if you fail to pay, the vehicle will be confiscated.

But does taking a car loan always lead to a profit for the debtor?

Benefits of Car Loans

Benefits of Car Loans

Of course car loans have several advantages, as evidenced by the increasing demand for loan products in this community. The several advantages that appear are as follows:

# 1 Solution for those of you who don’t have funds at the start

Cars have now become a major necessity, although not a primary need. But unfortunately the price of cars also continues to increase from year to year.

Thus, you could say a car is an item whose price is quite high. With a standard salary, it is difficult to be able to save for buying a car. You could just buy a car for 10 years.

Therefore, a loan product is made in the form of Motor Vehicle Loans which can be a solution to the problem.

With a car loan, you can have a car while paying slowly in a reasonable amount.

# 2 Will Make Money if Used with Productive

For those of you who buy a car not for personal needs, but for business needs, then car loans are a way that should be considered.

Because this can help turn money around to stay awake.

However, you still have to calculate the estimated profit of the business. Do not let income lower than expenditure. If not, it could be at risk of bad credit.

# 3 Can Have a Car Even Not Paying Off

# 3 Can Have a Car Even Not Paying Off

One of the main factors for people taking car loans is because of the need for fast cars. If you save, you will be able to buy a car, but with a car loan you can use it from the start, even though it hasn’t paid off.

Even now it is not uncommon for car loans to offer a DP of 0% or a light interest rate, which is certainly one of the attractions of credit rather than paying in full.

# 4 Insurance in Car Loans

# 4 Insurance in Car Loans

By applying for a car loan, generally you will automatically get insurance. Thus, even though the car is still in the process of financing and has not paid off, the car will continue to be under insurance protection.

Different if you buy a car in cash, then you need to buy insurance separately.

# 5 Requirements are easy

Compared to taking other loan products to buy a car, the car loan terms are quite easy. Try to compare the terms of Unsecured Loans (KTA) and car loans (KKB), so it is clear that KKB is much easier to submit.

The several terms and completeness of documents for applying for a car loan are as follows:

If you are married:

  • Photocopy of husband and wife’s ID card
  • Photocopy of Family Card
  • Account Statement for the last 3 months
  • Salary slip

If not married:

  • Copy of ID card
  • Photocopy of Family Card
  • Account Statement for the last 3 months
  • Salary slip
  • Photocopy of UN

# 6 Funds Can Be Used for Other Needs

Even though they have sufficient funds to buy a car, some people still choose car loans. Why do you think?

That’s right, they choose to use existing funds for other more urgent needs first, or maybe invest it with a higher rate of return than car loan rates.

Thus, all needs can be fulfilled and you may even benefit from these funds.

Losses on Car Loans

Losses on Car Loans

In addition to the various advantages, in fact car loans also have some disadvantages, you know !

Before applying for a car loan, consider some of the disadvantages as follows:

# 1 There is a financial burden

It’s just credit, meaning you borrow a certain amount of money and must pay it off in return for interest in the form of credit to the creditor. In other words, you actually owe.

This debt is certainly a financial burden that needs to be resolved with high commitment. Once you let your guard down, you might confiscate your car.

# 2 Interest can rise if the economy is not stable

Car loan interest rates change according to market conditions, and can go up or down.

If something happens that results in an unstable economy, such as riots or other socio-political conditions, then you can bear the impact in the form of an increase in interest rates.

Indirectly, these conditions affect the amount of your installments. Unlike the case if you directly pay in full, because the payment is paid is not subject to interest that can change.

# 3 Wrong Calculation, Cars can float

As mentioned earlier, if you fail to pay, the car can be confiscated by the bank. Thus, you could lose your dream car even though it has been paid in installments.

Therefore, do your financial ability calculations before deciding to apply for a car loan.

To check your financial condition, you can use the Varner family application. With the financial health check feature, you can know how healthy your finances are. In addition, you can also use the Varner family credit calculator widget to calculate the amount of your car loan installments per month.

The method is very easy, enter all the information needed to the empty column, for example like this:

# 4 There is a heavy impression because you have to keep paying in installments

Because car loans are now the longer the tenor, you can just start feeling tired because the installments don’t pay off.

Even though for a period of 5 years, for example, you could have wanted to replace your vehicle again. But whatever the circumstances, you still have to pay off your installments to completion.

Not to mention considering the high depreciation of car prices. Once you drive a vehicle, you can say used cars and the price can go down to 20%.

]]>
http://www.localcollectorspost.org/want-to-apply-for-a-car-loan/feed/ 0
What Should You Know About Used Car Loans? http://www.localcollectorspost.org/what-should-you-know-about-used-car-loans/ http://www.localcollectorspost.org/what-should-you-know-about-used-car-loans/#respond Fri, 03 May 2019 17:20:22 +0000 http://www.localcollectorspost.org/?p=52 Read More »]]> What information do you need to know, before making a used car loan? Now these things you need to know so you do not regret later.

This Is What You Need To Know About Used Car Loans

This Is What You Need To Know About Used Car Loans

At present the car has become a necessity for the community, especially the people in big cities. So do not be confused if the streets are getting jammed every day. Many finance companies offer car loans to the public.

This used car loan is a solution for the community, because you can buy a car at a more affordable price and installment rates. Currently you can have a car at a more affordable price. So do not be mistaken and regret in the future, then you must know first about used car loans.

Basically used car loans are the same as buying a car with an installment system. Of course the amount of the installments depends on the down payment you pay, the period and amount of interest. Sometimes used car loans can be more expensive than new cars, because of the large down payment needed and credit interest.

Where is the Place to Apply for Used Car Loans?

Where is the Place to Apply for Used Car Loans?

Who do you think provides a used car loan facility? Used car loans are currently provided by several companies, such as banks and motorized vehicle leasing.

Bank

Banks offer vehicle loans commonly known as motor vehicle loans. Some banks offer used car loan interest in intervals of 8% – 14.5% per year. Interest is offered in the form of a fixed rate. The loan period is up to 5 years. We do not have the financial planners to suggest that you do not take vehicle debt for more than 5 years, especially if you are buying a used car.

Motor Vehicle Leasing

In addition to banks, you can apply for a used car loan in a motorized vehicle leasing company. Leasing companies usually provide easy credit application processes. Of course you need to meet several applicable terms and conditions and pass the survey. The interest offered is also competitive with bank offers, around 8% – 15% per year fixed rate.

What is the Simulation of Used Car Loans?

Used Car Loans

Examples of used car loan simulations:

  1. Advances to be paid 20% – 30% OTR (on the road).
  2. Every application for a car loan must be supported by life insurance and vehicle insurance. Car insurance premiums will be adjusted to the age of the vehicle and type of insurance (all risk or lost only).
  3. Credit is offered at a fixed rate with a maximum period of up to 5 years.

Example:

Mr. Ronald wants to buy a used car for Rp. 110 million and a vehicle age of 5 years. Mr. Ronald wants to use car loan for 5 years or 60 months.

  • Advances must be prepared 30% x Rp 100,000,000 = Rp 3,000,000
  • Insurance premiums, for example 2.50%, then 2.50% x IDR 100,000,000 = IDR 2,500,000 per year.

Monthly installments are calculated from the total used car loan (car price – down payment). In the case of Mr. Ronald, the total credit amounted to Rp. 70,000,000. If the interest per year is 12% fixed rate, then the installments per month:

  • Basic installments: IDR 70,000,000 / 60 months = IDR 1,166,667
  • Interest: (12% / 12 months) x Rp. 70,000,000 = Rp. 700,000
  • Total installments per month: IDR 1,166,667 + IDR 700,000 = IDR 1,866,667

General Conditions in Used Car Loans

General Conditions in Used Car Loans

Here are the general requirements for applying for a car loan, for individual applications:

RequirementsEmployeeProfessionalentrepreneur
Copy of Consumer ID CardYesYesYes
Copy of wife / husband’s ID cardYesYesYes
Copy of Family CardYesYesYes
Copy of Marriage CertificateYesYesYes
A copy or proof of electricity bill, PDAMYesYesYes
Copy of NPWP / SPT or NPWP statement letterYesYesYes
Copy of current account / savings account for the last 3 monthsYesYesYes
Copy of SIUP YesYes
Copy of Practice Permit Yes 
Salary slip for the last 1 month / Letter Ket. IncomeYes  

Here are the general requirements for applying for a car loan, for legal entities:

  1. Copy of NPWP / SPT or NPWP statement letter
  2. Copy of current account / savings account for the last 3 months
  3. Copy of SIUP and TDP
  4. Copy of the Deed of Establishment & Amendment
  5. Copy of Ratification Deed of the Minister of Justice
  6. Copy of Information on Domicile
  7. Copy of financial statements for the last 2 years
  8. Copy of Management ID (complete)

What Should You Look For When Taking a Used Car Loan?

What Should You Look For When Taking a Used Car Loan?

Here are some things you need to pay attention to when taking a used car loan:

  1. Note the condition of the car, whether the price of the car and the conditions are appropriate or not. There is nothing wrong with you comparing the prices of used cars and inviting skilled people about car engines.
  2. Do not ambit the credit period that is too long, so you do not experience losses.
  3. Discuss with banks or leasing companies for financing. It does not hurt you to bid on used car credit costs.
  4. Compare interest between companies offering used car loans.
  5. Also pay attention to the costs of fines, accelerated repayments, provision fees, administrative fees, insurance costs and other costs.

Congratulations on hunting for cars and used car loans that are suitable for your needs.

]]>
http://www.localcollectorspost.org/what-should-you-know-about-used-car-loans/feed/ 0
Case Examples of New Car Loan Calculations and Simulations http://www.localcollectorspost.org/case-examples-of-new-car-loan-calculations-and-simulations/ http://www.localcollectorspost.org/case-examples-of-new-car-loan-calculations-and-simulations/#respond Thu, 02 May 2019 17:21:46 +0000 http://www.localcollectorspost.org/?p=55 Read More »]]> How do you calculate a new car loan plan? Of course, this is quite difficult to do if you don’t have an idea of ​​a new vehicle loan simulation.

In order for you to get a real picture, this time we will discuss examples of calculations and simulations of new car loans.

New Cars, Supporting Vehicles in the Industrial Age 4.0

New Cars, Supporting Vehicles in the Industrial Age 4.0

The industrial era 4.0 has become rampant and has even become the most common discussion about the economic system of our developing country.

The desire of the people in era 4.0 is also based on daily needs, as a result many people are compelled to have a four-wheeled vehicle in the form of a new car or a car that is in a used condition.

With these problems, various finance companies in the form of leasing or commercial banks were present.

They offer car loan simulations for the purchase of new cars and used cars as an convenience for people who want the four-wheeled vehicle.

Ease of Car Loan Procedure

Ease of Car Loan Procedure

Although the need for cars is very high, the Indonesian people still have a general perception that tends to be negative about car loans.

That assumption can be on processing that takes a long time or can not imagine the cost per month that must be spent plus interest every month.

Specifically, the Indonesian people have not fully understood the article on how to calculate credit simulations for the purchase of new cars.

However, the confusion of the community is contrary to the ease and diversity of credit service options offered by banks and financial institutions.

The bank or procedural leasing will usually explain in detail starting from requirements, agreements to credit calculations to prospective customers.

Important Things Related to New Car Loans

New Car Loans

The function of calculating this car loan simulation is for prospective customers to have an overview of payments every month and can do planning.

After that, determine which car wants to determine what car will be purchased by prospective buyers.

For buyers who want the transaction done on credit, then immediately find out which leasing company you will choose for your car purchase.

# 1 Make Sure You Meet DP As Much As Possible

Usually the leasing company prepares many attractive offers for you, so you have to be smart in choosing the product and also be careful in choosing a car leasing company.

Choose a car leasing company that provides prices with advances that are not too high, with low interest, a period that is quite flexible and has a price reality that is quite competitive with its competitors.

# 2 Adjusting Payment Projections with Capabilities

You can also seek information in advance about everything related to car loans via the internet or ask directly to the company office, bank or to relatives or friends who are experienced in buying a car on credit.

Then it’s time to adjust the funding requirements for car loans and adjust the financial conditions that you have now.

Adjusting your funding needs will be very useful to determine down payment at the first time of payment and the amount of installments each month to suit your ability.

# 3 Calculating Credit Simulation

The more amount of down payment you pay, the greater your chances of choosing installments and tenor of the loan period. Not only that, you can also request a discount to make your down payment lighter.

To give you an idea of ​​how to calculate a car loan simulation, the following is a case example on a car loan simulation. Before calculating the simulation.

# 4 Pay attention to Bank Interest Rates

Leasing or bank interest rates which would you choose for the purpose of credit, financing usually will set the interest rate car loans ranged from 6% to 8% for credit for 1 year to 3 years.

Usually the tenor or time period can be chosen from 1 year to 5 years. But it needs to be remembered again if the longer the period, the interest rate will be even higher.

# 5 Know Insurance Rates

Insurance rates that are to be chosen for a period of 1 year to 3 years are generally 7.5% to 9.5%, the calculation is then multiplied by the price of the vehicle that is credited.

# 6 Administration Fees

The leasing / bank administration fee for credit for 1 year usually reaches Rp.350,000, for a period of 2 years which becomes Rp.450,000 and finally if taken for 3 years the period of payment is Rp.550,000.

Example of Car Loan Calculation Cases

Example of Car Loan Calculation Cases

You will buy a new car at a price of IDR 300,000 by credit for 3 years through one of the leases .

Then, what is the minimum amount of down payment that must be prepared and what is the amount of installments every month that must be paid later?

How to determine based on the money you have can be by determining the amount of DP, installments per month and the total amount to be paid for the first time including insurance:

  • The down payment rate is usually the minimum amount will be determined by the leasing party, say 10% of the price of the car. (DP = 10% x New Car Prices)
  • Calculating the Credit Principal (PK) is by reducing the price of the car with the amount of down payment to be paid. (PK = New Car Prices – DP)
  • Determining the amount of interest to be paid (JB) is to multiply the Credit Principal (PK) before the interest rate (tb), where the interest rate is multiplied by the period (jw) of credit in the year divided by 100. (JB = PK x (tb x jw: 100))

After getting the amount of interest that must be paid in its entirety, then to get the amount of the Installment Per Month (APB), how to add the Credit Points (PK) and Amount of Interest (JB) then share the credit period (jw) calculated in months . (APB = (PK + JB): jw (month))

The answers to the example questions above will be like this:

  • DP = 10% x New Car Prices
  • DP 10% x IDR 300,000,000 = IDR 30,000,000
  • PK = New Car Prices – DP
  • Principal Credit (PK) IDR 300,000,000 – IDR 30,000,000 = IDR 270,000,000

JB = PK x (tb x jw: 100)

The amount of interest that must be paid is IDR 270,000,000 x (8 × 3): 100 = IDR 64,800,000.

APB = (PK + JB): jw (month)

Monthly Installments (IDR 270,000,000 + IDR 64,800,000): 36 months = IDR 9,300,000

Insurance Fee 9.5% x Rp. 300,000,000 = Rp. 28,500,000

Administration Fee = IDR 550,000

In addition to planning a budget for car loans, of course you must be able to plan your finances well, you can read the Financial Planning ebook for the age of 30 below for FREE.

New Car Loan Simulation

Car Loan simulation

With the above calculations, the total you have to prepare for the first payment is:

Advance (DP) + Installments in the First Month (APB) + Insurance Fees + Leasing Administration Fees

The first payment to be paid is IDR 30,000,000 + IDR 9,300,000 + IDR 28,500,000 + IDR 550,000 = IDR 68,350,000

Well, that’s the example and how to calculate a new car loan simulation that hopefully can be an illustration before buying a new car on credit.

If you feel the monthly installments are still too large, then return as mentioned before. That you can manage by increasing the amount of his down payment to reduce the amount of installments per month.

Not only that, you can also choose leasing or banks and insurance companies that offer the lowest rate / interest, so that the funds that have to be provided are smaller.

You can use the help of the Application to plan and manage your finances in terms of car loans. The application can be easily downloaded via the link below or through the Google Play Store.

After reading the article above, of course buying a car by credit is not a difficult thing right?

So that more people can buy a car with careful planning, then don’t forget to share these important tips with your friends and family, thank you.

]]>
http://www.localcollectorspost.org/case-examples-of-new-car-loan-calculations-and-simulations/feed/ 0
Choose Which, Car Loans in Banks or Car Loans in Leasing? http://www.localcollectorspost.org/choose-which-car-loans-in-banks-or-car-loans-in-leasing/ http://www.localcollectorspost.org/choose-which-car-loans-in-banks-or-car-loans-in-leasing/#respond Mon, 22 Apr 2019 17:23:56 +0000 http://www.localcollectorspost.org/?p=58 Read More »]]> Is it better to choose a car loan through a bank or in a leasing? What are the disadvantages and advantages of each vehicle credit provider? In this article, we will explore further the pros and cons of each financing.

KMK (Car Ownership Credit)

KMK (Car Ownership Credit)

KMK is a financing facility provided by a credit financing institution especially if the buyer does not have cash to buy the vehicle directly. The system, the agency will pay the dealer a price for the car, then as a buyer, you are responsible for paying the installments every month.

This installment usually has to be paid during the credit tenor, where the time period is different and must be adjusted to the institution. Installments to be paid consist of principal and loan interest. There are many choices of credit financing institutions, the two of which are banks and leasing .

Bank

In addition to being a financial institution that facilitates savings and loan transactions, banks also provide ownership credit facilities, one of which is vehicle ownership loans. Ownership loans offered by banks can be used for new or used cars. At the time of submitting an application, the applicant must fulfill several conditions such as:

  • Proof of identity (KTP, KK or Marriage Certificate)
  • Proof of income (Salary Slip, Work Certificate)
  • Tax proof (NPWP)

After the applicant meets these requirements, the bank will then process the application. The application process requires a variety of time, the fastest is one (1) day to the latest, 7 (seven) days.

Once approved, it means that credit is accepted, the applicant gets a vehicle and must fulfill his responsibilities as a borrower by paying monthly installments.

Benefits of Financing through Banks

Here are some of the benefits that you get if you apply for credit through a bank:

  • Low interest rates so that your monthly installments will be lighter
  • There is an option to pay off part of the debt if you have enough cash so that the remaining bills don’t burden you

Loss of Financing through Banks

If you choose credit financing through a bank, then some of the disadvantages you must face are:

  • The submission process is quite complicated, because you need various documents that show your identity and your eligibility to get credit
  • Your submission may be rejected, even the bank will conduct various surveys to ensure the accuracy of the data you provide.

Leasing

Leasing comes from an English word which means to rent out, in financial terms, leasing means a financing activity given by a company ( lessor ) to a customer ( lesse ) in the form of borrowing or procuring capital goods in the form of an agreement with conditions such as:

  • Tenants have the obligation to pay rent periodically, generally once a month.
  • There is a tenor of rent with a variety of times, such as 1 year, 2 years, 3 years to more than 7 years.
  • The company has the choice to buy or deliver the leased capital goods at the end of the agreement period.

Leasing is usually submitted by the applicant which can be in the form of an organization, company or individual, with the items submitted can be vehicles for industrial needs, daily necessities and others obtained from suppliers .

In financing using leasing , you must also include insurance from suppliers or insurance service providers with insurance options such as all-risk , total lost only (TLO) or combined insurance.

In Indonesia, the filing of car ownership using leasing is quite well known and every year, the number of submissions has experienced a significant increase.

Advantages of Leasing Financing

Below are some of the benefits that you can get by choosing leasing as your financial institution:

  • The submission process is quite easy with conditions that are not complicated and fast
  • Some leasing companies are willing to come to your house to explain their offer

Loss of Leasing Financing

The following are some of the leasing losses compared to credit financing through banks:

  • The interest charged to customers is quite high
  • There are additional costs such as fiduciary fees, provision fees and insurance costs
  • Must have insurance, both TLO and all-risk

Equality of Banks and Leasing

Equality of Banks and Leasing

Among the two institutions, there is 1 similarity, namely you need a Down Payment of at least 30% of the selling price of the car, both new and used, which is agreed by both parties. This provision is based on External Circular No. 14/10 / DPNP dated March 15, 2012 concerning the Application of Risk Management to Banks Conducting Home Ownership Loans and Motorized Vehicle Loans.

Adjust With Needs

Adjust With Needs

To choose which financing you should choose, you must return to your individual needs. If you have applied for a loan with the bank and have been refused, it might not hurt to try credit applications through the leasing party.

The important thing is to know clearly all the requirements and conditions in the agreement and pay off your installments on time. How? Are you interested in applying for a loan to buy a car?

]]>
http://www.localcollectorspost.org/choose-which-car-loans-in-banks-or-car-loans-in-leasing/feed/ 0