Buying a new car on credit requires a finance company to help with the regular installment process. However, there are conditions for credit applications to be accepted. Each finance company has several initial requirements that must be met and usually the requirements are very varied. However, in general, the following are the terms of a new car loan that prospective buyers must meet according to Auto2000.
Choose a car that suits your abilities
The first requirement for a new car loan is to choose a car according to your abilities. The leasing party will see the choice of a car in installments because this will affect your financial condition. For that, avoid choosing a car at a price that exceeds financial capabilities. Installments do not make you spend a lot of money at once, but if the amount is too large, it will certainly affect financial management. Moreover, if you are unable to pay off the installments, then leasing will give you bad credit status, making it difficult to apply for credit again.
Have a Healthy Account
After choosing a car according to your financial capabilities, you are also required to have a healthy account. A healthy account does not mean that you have a lot of money, but that you have a balanced income and expenses, and are free from suspicious transactions.
Completing Administrative Files
Just like accounts, administrative files are also a consideration for the leasing party to approve or reject your credit application. If you need information about accessories and jewelry you can visit this site karendiamonddesigns
Offer Low Downpayments and Quick Credit Generally, the documents needed are identity cards (KTP), Family Cards, checking or savings accounts (last three months), NPWP, and salary slips. In addition, it’s a good idea to ask the leasing party regarding this because they may want other files in addition.
Paying Down Down Payment
Finally, you must pay the down payment or down payment after completing the administrative files. For a car in a personal name, usually, the lender will apply for a down payment of 20 percent to 30 percent of the total price. Let’s say you buy a car for Rp. 200 million and leasing requires a 20% requirement, then provide Rp. 40 million as a down payment.
The amount of the down payment paid will greatly affect the nominal of your installments. The bigger the down payment, the lighter the installments. However, you should consult with the leasing party to get a more detailed calculation.
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