Urgent needs for large funds can come to anyone, regardless of whether they have a steady income or not. Those with a steady income should be grateful, as they can use their income as collateral to obtain a loan. For example, civil servants can rely on their Appointment Decree (Surat Ketetapan or SK) as collateral. Private employees may benefit from having their salary account with the same bank as the lender, which makes the loan process easier.
If the option to use an Appointment Decree or salary account is not available, don’t worry. Now you can use your Motor Vehicle Ownership Document (BPKB), especially your car’s BPKB, as collateral. Using a car’s BPKB as collateral offers several advantages compared to other types of collateral.
Advantages of Using a Car’s BPKB as Collateral :
1. Quick Fund Disbursement
The fund disbursement process using a car’s BPKB as collateral is relatively faster compared to loans with other types of collateral or unsecured loans. It typically takes about 1 to 3 working days. Other types of collateral usually require a longer process because the lender must perform asset appraisal and surveys to determine the estimated value.
2. Relatively Low Interest Rates
Loans secured with a car’s BPKB generally offer lower interest rates compared to unsecured loans (KTA). This benefits borrowers as lower interest rates result in smaller monthly installments.
3. Large Credit Ceiling
The financing amount is calculated based on the estimated resale value of the car used as collateral. Typically, the loan amount ranges between 75% to 85% of the car’s estimated value.
4. Long Tenor
Loan terms are important, especially if the funds are intended for starting a long-term business. Loans secured by a car’s BPKB can have terms up to 5 years (60 months).
Bu Ana: Financing Product with BPKB Collateral :
Did you know? Buana Finance offers a financing product that uses only your car’s BPKB as collateral, called Pinjaman Bu Ana (Bu Ana Loan).
Pinjaman Bu Ana provides convenience by only requiring personal identification and the BPKB document as collateral. The application process can even be done online.
As a financial institution registered and supervised by the Financial Services Authority (OJK), Buana Finance guarantees the security of your car’s BPKB as collateral. Plus, retrieving your BPKB after fully repaying the loan is a simple process.
