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These are Unknown Vehicle Credit Rules

The existence of credit facilities in buying motorized vehicles makes it easy for people to have their own vehicles. But there are people who get into trouble when taking out motor vehicle loans because they don’t fully understand the rules that surround them.

Taking vehicle credit from a bank or leasing has its own rules. Generally loans from banks are lighter because interest rates are lower. But credit from leasing is easier to obtain because of the more lenient conditions. [Read: Loans from Banks or Leasing, Plus Minuses of Each Choice]

But motor vehicle loans are not only a matter of easy disbursement. We also need to understand the credit rules. Here are some rules that are rarely known to the public when taking vehicle loans.

Down Payment

Bank Indonesia in BI Circular Letter No. 15/40/DKMP dated September 23, 2013 stipulates that the down payment/down payment (DP) requirement for motor vehicles through banks is at least 25 percent for two-wheeled vehicles and 30 percent for three-wheeled or more vehicles for non-productive purposes. And 20 percent for 3 or more wheeled vehicles for productive purposes.

Everything that is credited has a down payment. If you don’t have it you should be suspicious (DP/Bed & Breakfast)

Nonproductive here means that it is not used for commercial purposes, as it is only used as a means of daily transportation. Whereas productive such as official vehicles or public transportation.

Whereas the DP from leasing according to the Minister of Finance Regulation Number 43/PMK.010/2012 is a minimum of 20 percent for two or three wheeled vehicles and 25 percent for four or more wheeled vehicles. The minimum DP for four or more wheeled vehicles for productive purposes is 20 percent of the total price.


Have you ever found a group of people who carry communicator gadgets and see the license plates of vehicles passing on the road? They are called debt collectors or eagle eyes (matel).

Debt collector is given the task of leasing to attract vehicles that fail to pay off installments in accordance with the agreement. The problem is, debt collectors often act harshly when they find the vehicle they are looking for. As a result, bickering happens on the road, it can even lead to violence.

We can avoid matel problems after understanding fiduciary. What is fiduciary? According to Law Number 42 of 1999, fiduciary is a process of transferring ownership of an object on the basis of trust, but the object is still in the control of the party who transferred it.

Understand fiduciary well so you avoid these debt collectors (debt collectors/career addicts)

Fiduciaries are generally included in motor vehicle loan agreements. We as debtors pay the fiduciary guarantee fee. The goal is a vehicle that is credited free from debt collector withdrawal.

So, debt collectors are forbidden to pull a vehicle if you have paid fiduciary even though the installments are a bit slow. Unfortunately, there are also rogue leases that do not register the guarantee with the authorities, in this case the fiduciary guarantee office.

Therefore, there is a Minister of Finance Regulation (PMK) No. 130/PMK 010/2012 concerning Fiduciary Registration which requires leasing to register a fiduciary guarantee no later than 30 days after the credit agreement is signed. Leases that do not register guarantees are threatened with business freezing.

Ask the fiduciary about the lease and make sure that the guarantee has been registered. According to the Police Chief Regulation Number 8 of 2011, the only party entitled to withdraw a problem credit vehicle is the police.


Motor vehicles purchased through credit, especially new vehicles, are usually equipped with insurance. There are two types of motor vehicle insurance, namely All Risk and Total Lost Only (TLO).

All Risk Insurance protects vehicle users from the risk of being lost to blisters. Whereas TLO protects users from the risk of being lost. Usually leasing registers vehicle credit to TLO type insurance.

Certainly insurance will be included when you apply for a motor vehicle loan. Understand the type of insurance, yes (submit car insurance/Future Ready)

So, we need to pay insurance premiums when crediting a vehicle. But this extra cost gives us benefits. Because, we as creditors can submit insurance claims if there is loss. 

However, we must understand the policy or rules for filing a claim. Each lease and insurance can be different in providing claim conditions.

Generally the conditions specified are:


2. Purchase invoice

3. Key

4. Letter of loss report from the police

5. STNK block letter from the police

6. Claims must not exceed 3 x 24 hours of loss

Purchasing a vehicle on credit is now easier, but we still need to know our rights and obligations in accordance with applicable regulations. That way, we will not experience losses just because of lack of understanding the rules that accompany the vehicle loans we take.

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