What happens if someone does a car loan, if without clear calculations? This time we will discuss the financial catastrophe that occurs if someone submits a car loan without calculation.
Don’t Get Car Loans without Mature Calculations
Vehicles become a necessity for almost all people in Indonesia, especially people in urban areas. Cars are one of the most popular vehicle choices. At present we can buy LCGC (low cost green car) cars at a relatively affordable cost.
The good news is that there are currently many choices of vehicle loans from banks and leasing companies. Unfortunately if we use car loans without careful calculation, it will cause havoc. The following are 5 less precise reasons related to vehicle loan applications:
# 1 reason to show off
Severe palling is car loans for reasons of showing off and prestige. Forcing a lifestyle is not the right way. Have you ever seen someone who already had a luxury car but didn’t have a house?
# 2 Take Credit Without Calculation
There are also people who apply for credit, without calculating the costs. Try to mention what costs suddenly appear if someone applies for a car loan? Yes it is absolutely certain the costs related to car loans (interest, administrative fees) and also the operational costs (fuel, toll fees, maintenance costs, fees for arranging letters and so on).
Usually people who have a crush on cars tend to ignore the sources of funding. Carelessly choose a bank or leasing company without checking or comparing with other offers. So, yes, often there are less good offers (expensive interest, large administrative costs, large fees, etc.). Well, therefore, do a comparison of car loans from several credit providers before deciding.
The problem with beirkut in car loans is the long installments. There are people who repay the car for more than 4 years. Though the price of cars always decreases (depreciation / depreciation) every year. If you pay in installments, the installment amount might be greater than the selling price.
# 5 Does Not Pay Attention to Costs
Never ignore the costs associated with car loans. Starting from the cost of credit, insurance costs and operational costs. Usually people don’t realize how much vehicle expenditure is compared to income.
Tips for Choosing a Car Loan, So You Get the Benefits
What should be done in order to get an additional advantage in choosing a car loan:
- Choose a vehicle according to your needs, not wants. For example, if it’s really a need for a family, the choice of family car is more suitable than a narrow city car.
- Don’t be lazy to survey car prices, before buying it. You can search car prices through the internet. Make sure you also know what the price of the second car is, for comparison.
- Also pay attention to operational costs, don’t just think about the purchase costs. Also think about fuel consumption, maintenance costs and so on.
- Buy vehicle insurance that suits your needs. If you buy all risk insurance, make sure you read the policy. All risk insurance only covers all the risks stated in the policy. So if there is a risk outside the policy, it will not be borne by the insurance company.
- As much as possible do not owe for the down payment for the purchase of a car. We strongly recommend paying a cash advance for the purchase of a car.
Become a Wise Buyer
Car loans are the most appropriate solution to help realize the dream car. So that you do not regret later, you should choose car loans wisely and carefully. Good luck.