Applying for a loan with a vehicle BPKB guarantee is a common solution to get liquid funds in a short time. There are various financial institutions that you can choose to apply for a vehicle lease. The most common are banks and finance companies. Which is more profitable?
Of course, this goes back to your abilities and needs. At first glance, the two are almost indistinguishable. Both are licensed and supervised by the Financial Services Authority (OJK). You also have to pay a certain amount of installment interest and there are strict requirements that must be met.
But lately, more and more finance companies are chosen because the requirements are considered more practical and profitable.
What are the advantages of leasing offered by finance companies? Check out the full review below!
Higher Loan Ceiling
The first advantage you can get is a higher loan ceiling or limit. Generally, you can get a disbursement of funds starting from Rp. 2 million. You can get a disbursement of around 60-80% of the value of the vehicle you guarantee. However, this comes back to the condition of the vehicle that you guarantee. With a higher loan ceiling, you can get enough funds to meet your various financial needs.
The second advantage that you can get is a longer tenor or loan repayment time. Because you are pledging valuable assets, the finance company provides benefits for you with a long repayment period. Generally, the tenor given ranges from 5 to 10 years.
Faster Defrosting Process
As previously explained, the disbursement process for finance companies takes a relatively shorter time than banks. For example, at BFI Finance Indonesia, you can get liquid funds in less than one day if you are judged to have met all the requirements and required documents.
Therefore, more finance companies are chosen for those who need liquid funds in an urgent situation. Generally, banks take longer to approve their customers' loans. However, of course, this comes back again whether you are judged to have met the specified requirements and documents or not.
Those are some of the advantages that you can get by applying for leasing via a finance company. If you need liquid funds in a short time, of course, leasing at a finance company will be more profitable for you.
Hopefully, the above review can help you determine the right choice for you, yes!