No more cheap DP, auto loan advances 40 percent minimum

YAKARTA, KOMPAS.com – Amid large-scale social restrictions (PSBB), several people experienced financial problems due to declining income.

Not a few of those who have to suspend credit payments to financial companies (leasing) until normal conditions.

The government together with the Financial Services Authority (OJK) also offers credit relaxation solutions for sectors affected by the Covid-19 pandemic.

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Arista Group Arista Group officially launched a vehicle buying and selling site

This condition ultimately forced the lease to select stricter consumers who apply for credit, to minimize consumers who do not pay.

Ali Hanafiah, co-founder and director of the Arista Group, said his group is increasing sales with attractive programs and digital services.

This step is believed to make it easier for consumers to purchase vehicles when PSBB. Still, it doesn’t mean that Arista is loosening the terms and conditions for consumers who apply for credit.

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Kompas.com/Alsadad Rudi A featured used car unit can be purchased on credit from the Ciliwung Motor dealership, Kelapa Dua, Depok, on Tuesday (2/13/2018).

Ali said his side remained selective in accepting potential clients. According to him, consumers must adjust their credit capabilities when buying a vehicle.

As is known, several distributors have increased the average down payment (DP) by at least 40 percent. Whereas previously there were plenty of low DP deals and light fees for consumers.

“We really maintain the quality of consumers. We work with many large financial companies on vehicle loans. We select their ability to pay with the selected vehicle,” Ali said in a video conference (04/27/2020).

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special Illustration of buying a car

He added that consumers should adjust the DP with financial capabilities, so as not to overburden credit payments.

“The ideal share is one third of consumer income. If they meet these requirements, we will help them send it to the finance company,” said Ali.