Buy A Car Loan With A Car That You Are Nice And Attractive. The car loan is one of the credit facilities provided by banks / financial institutions to the borrower/customer to purchase a car. The term of a car loan, in general, is almost the same as a loan without collateral, which ranges from 1 to 5 years. However, some companies can provide credit for up to 7 years with only certain packages or requirements. Each car loan can finance the car up to 70% or 80% of the price of the car, for the rest will be a down payment or down payment (DP) that must be borne by the car buyer.
First of all, look for the type of car and vehicle specifications that suit your needs and the down payment budget that you have prepared.
VISIT CAR DEALERS
To see the physical car you want, of course, it is very important to visit an authorized dealer for a new car. But if you want to buy a used car, you can visit an individual dealer or business entity dealer that sells a variety of vehicle brands. If possible, you should consult your budget with the dealer.
SUBMIT A CAR CREDIT
Once you know what type of car you need and choose a car dealer. Choose a bank or leasing company to apply for a car loan. Then, attach the required documents in full so that the bank or leasing company can process your credit application.
The document process usually takes 3 – 5 working days for data verification, after which the survey team will visit you. If your credit application is approved, the bank or financial institution will give financing approval called a Purchase Order (PO). When the PO has been received by the seller or dealer, you will be asked to pay an advance.
After all administrative requirements are completed, the seller or dealer will arrange a delivery schedule for the car to your desired location. Car deliveries will usually take 3-4 business days. Meanwhile, the Motor Vehicle Ownership Book (BPKB), Vehicle Number Certificate (STNK), and car plates will be sent 14 days after the car is delivered.
Types of Car Credit Insurance
Car loan insurance undeniably, insurance has provided many benefits for people who have experienced accidents, damage, and bad things. Now, every bank and leasing company also offers insurance for your car.
So, if something bad happens like sabotage. A natural disaster or a riot occurs that causes your car to break down, you don’t need to worry anymore. Insurance will cover it.
Car insurance costs are also not expensive, only ranging from 2% to 3%. However, the price of a vehicle can also affect the number of insurance costs. Also, the age of the car affects the number of insurance costs. So, the older the car, the greater the insurance premium.
All Risk Car Insurance
The meaning of all risk is any risk, therefore this insurance is referred to as overall or comprehensive insurance. So, this type of insurance will pay claims for all types of damage be it light damage, heavy damage to loss. But this insurance is the most expensive compared to TLO car insurance for car loan.