Buying a car on credit is certainly one of the solutions to owning a car. You can directly use the car from the dealer without having to deposit large amounts of money. Because the payment is made in installments every month until the specified time. No wonder so many are interested in buying a car on credit because of the convenience.
Some claim that buying a car on credit is actually detrimental. How can? If calculated and added up, the total credit installments you pay compared to the price of the car if purchased in cash is definitely more expensive and that is why credit is called detrimental. Installments that you pay every month are not pure discounts on the price of your car but have been added with interest so that the price of the car becomes more expensive.
So, if someone says buying a car on credit is detrimental, there is truth. In fact, the price of the car we pay is more expensive than the original price. In addition, the value of the car is increasingly decreasing due to usage. By the time your car loan is completed, the selling price of your car at that time could have dropped far from the previous price. That’s why buying a car on credit is quite detrimental.
Is it really a loss?
Talking about whether or not to buy a car on credit actually depends on how you judge it. There are several things you need to know about car loans. Who knows by knowing these things, your perception changes that it turns out that car loans are not entirely detrimental.
There are a number of things to consider if you want to buy a car.
The price of vehicles, especially cars, tends to increase every year. There are several factors that influence the rise or fall of car prices, including exchange rates or currency exchange rates, production costs, inflation, and Motor Vehicle Transfer Fee (BBNKB). These factors are difficult to ascertain stability. Therefore, if you intend to buy a car, do not delay too long.
Find out if you really need a car. Do not let because of buying a car, you are overwhelmed in meeting basic needs. Costs such as fuel and service / maintenance costs must be included in future monthly expenses other than car loans. That means there are new liabilities that are burdening finance.
You must be absolutely sure of the reasons why the car is a necessity. If it’s a matter of time because of high mobility at work and you happen to live outside the city far from your workplace, it is appropriate to designate a car as a necessity.
If only, you finally decided to buy a car on credit for fear of rising prices next year and increasing job mobility. First of all, you need to know the provisions that apply. In accordance with the provisions of bank, down payment (DP) for car loans at least 25% of the price of the car. While the recommended amount of income is IDR 5-7 million.