My WordPress Blog Wed, 15 May 2019 13:25:11 +0000 en-US hourly 1 Get to know the Cheapest 2018 Car Loan Promos for You to Profit! Mon, 06 May 2019 13:19:50 +0000 See More]]> The Cheapest Car Credit Promo in 2018
The Cheapest Car Credit Promo in 2018

Various promos are offered by many car dealers , whether through exhibitions, advertisements, or through other marketing means.

Actually, a car is one of the things that is quite expensive. At present, the average four-wheeled vehicle is priced at a price above 100 million rupiah per unit.

Therefore, with many promos and discounts, many people are tempted to buy new cars with car loan promos offered to them.

Thus, you need a good financial strategy in order to be able to see clearly the advantages and disadvantages offered by a dealer through this car loan promo.

Let’s look at some of the cheapest car loan promos this year so you can prepare your finances carefully before deciding to apply for your dream car loan.

To be able to maximize your financial planning, Gabriel Oak can help you by providing applications and ebooks that can be accessed to increase your knowledge of good financial planning.

Before Deciding to Glance at Car Loans

You certainly don’t want to be harmed either financially or materially when applying for a car loan, right?

Before deciding to apply for a car loan, you need to really consider a number of things below.

# 1 Your Financial Readiness

# 1 Your Financial Readiness

Before you decide to apply for a car loan, make sure you are financially stable.

Because, completing a car loan installment requires a short time, unless you want to pay more for a shorter installment tenor.

In addition, when applying for a car loan, you need to prepare sufficient funds to pay a small down payment. Usually, the down payment requested ranges from 20% – 25%.

It’s good before you apply for a car loan, you have made preparations by having enough savings or savings to be able to make advance payments.

This will make your financial routine will not be disturbed by your credit application.

In addition to having savings first, you can try a car loan simulation that is usually available on the website or dealer to find out the description of the credit scheme that you will later go through.

# 2 Your Needs

In addition to financial readiness, you also need to consider what kind of car you really need.

Do you have a family and have children? Obviously, large cars are more useful than sedans.

Or, does your job require high mobility? It’s better to look for a car that is comfortable to travel far and save fuel.

Keep in mind, your priority in choosing a car is your need, not your desire or desire for the latest or most sophisticated car trends.

# 3 Future Planning

You also need to know the continuation of the car loan that you submitted.

  • What is the procedure for applying for a car loan that you will do?
  • Will you be able to complete this car loan?
  • Does the loan interest rate that you submitted burden you?
  • Can you use this car as much as possible?
  • Can you afford the maintenance costs?

As much as possible, think carefully about the benefits you get from the car you are crediting.

Do not regret at the end for not considering these things.

Attractive Cheap Car Loans

Attractive Cheap Car Loans

After considering the things above, you can start looking at the cars on the market.

You can also consider cars with the brands listed below. Check out the car promos below!

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Recognize Terms in Used Car Loan Simulation Fri, 03 May 2019 13:21:28 +0000 See More]]> What are the terms often used in used car loan simulations? This time we will discuss the terms that we have encountered in a used car loan simulation.

Terms in Used Car Loan Simulation

Terms in Used Car Loan Simulation
  • Do you intend to buy a used car or second car in the near future?
  • Have you thought about, cash payments or using credit?

Before doing a used car loan simulation, you need to understand some terms that often appear when you used car loan simulation. Here is the explanation

Price of On The Road (OTR)

Price on the road (OTR) is the purchase price of a car plus all vehicle taxes and various documents (vehicle registration and BPKB). So the price on the road is the price of a car to be used.

Price of Off The Road

Price of Off The Road

The Off The Road price is the price of buying a car, not including the document. So you have to pay extra to take care of all vehicle taxes and various documents .

Tenor or Period of Loan

Tenor or Period of Loan

The tenor or loan period is how long the loan period is determined in units of months or years. Generally the tenor of used car loans is shorter (shorter) than the tenor of new car loans.

Down Payment

Down payment (DP) is a fee that must be paid in advance as a sign of being a vehicle purchase. Usually a down payment for a used car loan or a new car loan is 25% – 30% of the price of the car.

Credit Ceiling

Credit Ceiling

Credit ceiling is the amount of debt that must be paid by the debtor (people who apply for credit). Credit ceiling is calculated by means of the purchase price of a vehicle minus the DP of a car. Debt interest is calculated from the credit ceiling, not from the selling price of the car.

Insurance Policy and Premiums

Insurance policies and premiums are contracts or agreements related to vehicle protection. This agreement is made between you (the vehicle buyer) and the insurance company. You need to pay an administrative fee to arrange an insurance policy. This fee is only paid once when you register. Insurance premiums are fees that should be paid annually as a liability for insurance participants. Vehicle insurance companies usually offer two types of vehicle insurance namely all risk and total lost only.

Comprehensive or All Risk Comprehensive

Comprehensive or all risk insurance is vehicle insurance that provides protection against all types of damage (written in the policy). The premium amount is determined in percentage, which is around 1.5-3% of the OTR price of your car. The price will be updated annually.

Total Loss Only

Total lost insurance is vehicle insurance which guarantees total loss if it is due to theft or heavy damage. The definition of heavy damage is damage to a vehicle due to an accident with a total damage of more than 70%. TLO insurance costs are cheaper than all risk insurance, approximately 1% of the OTR price per year.

Administrative costs

Administrative costs

Administrative costs are costs that should be incurred by the buyer to take care of car loans. This fee is paid only once, when you take care of credit.

Fiduciary Fee

Fiduciary Fee

Fiduciary according to the Big Indonesian Dictionary means that:

fidusia / fi · du · sia / delegation of authority to process money from the owner of the money to the delegated party.

The cost of fiduciary guarantee is the cost of taking care of the debt agreement which states that the vehicle (car or motorbike) that is being submitted for credit is owned by the debtor (the person who submitted the credit) legally. Although in reality the BPKB vehicle was used as collateral.

Based on the Regulation of the Minister of Finance (PMK) No. 130 / PMK 010/2012 concerning Fiduciary Registration: requires leasing companies to register a fiduciary guarantee no later than 30 days after the credit agreement was signed.

Generally fiduciary fees will be charged at the beginning and at the end of the credit agreement. The amount of fiduciary fee is adjusted to the price of the vehicle, starting from Rp. 25,000 to Rp. 100,000.

Have you calculated the vehicle costs before buying a car?

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Guide to Examples of Used Car Loan Simulation Calculations Mon, 15 Apr 2019 13:23:49 +0000 See More]]> The following is an example of calculating a used car loan simulation, so that you know the cost component and how to calculate it. This guide is an illustration, so you can better compare used car loans.

Examples of Used Car Loan Simulation Calculations

Examples of Used Car Loan Simulation Calculations

Have you ever done a calculation or simulation of a used car loan?

If you do a simulation of a used car loan, you will be asked to fill in some information, such as car prices, down payment amount and credit tenor. It is best before you fill out the calculator, you already understand the definition or definition of these terms.

Guide to Examples of Used Car Loan Simulation Calculations - Independent Financial Planner Robert Lovelace

If you have never done a calculation, try to consider the following example:


  • ABC car loan simulation calculator
  • IBB car loan simulation calculator
  • NNI car credit simulation calculator
  • AprilBank Indonesia car loan simulation calculator


  • The ABC Finance car loan simulation calculator is here
  • CNC car credit simulation calculator here
  • Mobilmobil Finance car loan simulation calculator here
  • Siramas Multifinance car loan simulation calculator here

The question is, how do banks and / or leasing companies calculate interest and installments of used car loans?

The question is, how do banks and / or leasing companies calculate interest and installments of used car loans?

In general there are three components of costs that must be taken into account, namely: interest costs and principal installments, other costs (administrative costs) and insurance costs. Let’s discuss them one by one

Down Payment is a minimum of 20% of the price of the car.

Credit ceiling the difference between the price of the car and the down payment.


Car Prices= Rp. 200,000,000
Down Payment (DP)= 20% x Rp. 200,000,000= Rp. 40,000,000
Credit Ceiling= Rp. 160,000,000

Interest that must be paid is calculated in a way

If known

  • Credit interest = 8% per year
  • Credit Tenor = 36 months (3 years)


Monthly Installments = (Credit Ceiling + Interest to be Paid) / Tenor

Monthly installments= (IDR 160,000,000 + IDR 38,400,000) / 36= IDR 5,511,200

If known

  • Insurance premium = 9.5% per year
  • Administrative Fee = Rp 550,000


Insurance premium= 9.5% x Rp. 200,000,000= Rp. 19,000,000

The total funds that must be prepared for the first payment to the bank or leasing company are:

Down Payment + First Month Installments + Insurance Premiums + Administration Fees

40,000,000 + 5,511,200 + 19,000,000 + 550,000 = Rp. 65,061,200

How about? Are you interested in buying a car? You can also prepare funds to buy a car by counting it in the our Application.

Are Used Car Loans Profitable?

Try to continue the calculation above:

  • Year 1 = 65,061,200 + 11 x 5,511,200 = Rp 125,684,400
  • Year 2 = 12 x 5,511,200 + (9.5% x 0.9 x Rp. 200,000,000) = Rp. 83,234,400
  • Year 3 = 12 x 5,511,200 + (9.5% x 0.9 x Rp 180,000,000) = Rp 81,524,400

* calculation assumption : a decrease in the price (depreciation) of the car 10% annually.

Continuing the question, is used car credit profitable? The answer depends, depending on the value of the selling price of the used car.

  • If at the end of year 3 the selling price of the car is IDR 80,000,000, then the used car loan is not profitable.
  • If at the end of year 3 the selling price of the car is IDR 180,000,000, then the used car loan is still profitable.

Usually the calculation of used car loans becomes unprofitable if someone repays a car too long (installments of more than 3 years), cars with a market that is not too large and / or a car manufacturer stops operating in Indonesia.

In your opinion, are car loans including productive loans or consumer loans?

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