Tips for arranging car loan installments so that they don't burden you

By Mas Temon February 09, 2023 Post a Comment

Arranging car loan installments is tricky because it requires a commitment to immediately settle your obligations

Financial ability is very important because it will greatly affect your ability to pay car loan repayments. Because if you fail to pay, there will be many bad consequences that must be faced. therefore, it is very important to think carefully before deciding to take credit.

But don't worry, as long as you can manage your finances and determine your installments wisely, of course, bad consequences can be avoided. To help you determine and arrange light car installments, CARRO Indonesia will provide the following easy tips.

1. Adjust to your budget and finances

The first and most important tip is to adjust the car of choice to your budget and financial capabilities. Don't be tempted by a car whose price is beyond your budget and capabilities, because it will burden your finances later. Don't forget, you also still must pay installments or installments every month. So make sure it doesn't interfere with your finances every month.

2. Consult the dealer or leasing

If you are sure of the car of your choice, then it's time to consult a dealer or leasing. The goal is for you to get clear information about the used car loan that you will choose. Making it easier for you to prepare everything, from documents to available down payment options, installments, and tenors.

3. Take advantage of a credit simulation before deciding on a car loan

A credit simulation or calculator is very important to find out how much the down payment, tenor or length of installments, and the number of installments per month.

Find out carefully and adjust it to your budget and financial capabilities. Don't hesitate to consult again with the leasing or dealer to make it easier for you to determine light down payments and installments.

4. Choose a trusted dealer and leasing

Credible or trusted leasing companies are generally registered as members of the Indonesian Financial Services Association (APPI) or registered and supervised by the Financial Services Authority (OJK).

So, you will avoid the risk of fraud or loss in the future. Don't be easily persuaded by attractive offers from dealers or leasing whose credibility is unclear.

5. Make a budget post for car loan installment payments

Separate the budget for installments so that it doesn't get mixed up with other needs

Positive habits that help you in managing your installments. By making separate budget items, it will be easier to make a budget based on your monthly needs, starting from living expenses, and savings to the installments that you have to pay each month.

6. Immediately pay your car loan installments

One more positive habit that helps you in managing your finances. Always pay your installments and avoid procrastinating. With obligations that have been completely paid, you can freely arrange a budget for other needs. Besides that, don't use installments for other needs, OK!