Tips For Arranging To Financing For Your Dream Car Loan – Buying a car with cash can indeed save your expenses because it is not charged with credit installment interest. However, buying a dream car with a vehicle loan or car loan may be an option for those of you who want to have a car but also still need funds for other purposes. Here are some guidelines that can help you apply for a car loan while protecting your Financing from breaking down, one of them:
Choose The Right Car
Make sure the car is following the needs and circumstances of the financing. Do not choose a car just because of prestige or just want style. It’s possible because the price is expensive, you become stuck when paying the credit installments.
Car Price Survey
After determining the type or type of car you want to buy, the next step is to find out what the price is being offered in the market. You can find out this information by visiting car dealers immediately, or through the official website of the dealer or multi-financing company.
Determine The Right Source Of Financing
In Indonesia itself, there are two sources of financing or car loans that can be used, namely banks and financing companies or multi. Each certainly has advantages and disadvantages.
Prepare DP And Other Costs
At this time, the government has decided on the amount of down payment for four-wheeled vehicle loans, which is a minimum of 30% of the price of the car. Think about paying a down payment that exceeds this minimum limit, so that installments can be easier and pay off faster. Thus, the flow of financing will not be disrupted because of the number of installments.
Stay Away From Advances On Loans
It’s better to stay away from paying down payments on vehicle loans by borrowing, best from relatives or financing agencies. If this is done, it will be difficult to financing, because you have two obligations or two credit installments.
The Tenor Does Not Exceed The Economic Age Of The Car
The amount of credit installments is also determined by the interest and tenor or credit period that you specify. Make sure the specified tenor does not exceed the age or economic time of the car. Generally, when the car enters the age of five years, prepare a reserve fund for vehicle maintenance. This makes your expenses double, namely for car installments plus vehicle maintenance costs.
Another thing to consider is the requirements. Both banking institutions and financing companies require ownership of Identity Cards, salary slips, and savings accounts. However, some other borrowing institutions may require other documents such as electricity or telephone bills, or Land and Building Tax.
In applying for a car loan, several borrowing institutions provide convenience and speed in their services. It aims so that you are no longer preoccupied with other documents. Make sure all the requirements are complete.
Choose The Right Insurance
Choose a source of financing that works with the right insurance company. Look for information about the easy claim procedure at the insurance. Garda Oto provides convenience for customers during the claim submission process, by presenting the Otocare mobile application and also the Garda Center.