Today, owning a car has become an essential need for many people—especially for families with several members.
That’s why learning tips for buying a used car through sharia financing can help you achieve the dream of having your own vehicle without draining your savings all at once.
Sharia-based car leasing now comes as a solution, offering a financing system that is fair, transparent, and aligned with Islamic principles.
By understanding how sharia financing works and the requirements involved, you can make wiser decisions when choosing the right option.
Read this article to the end so you won’t take the wrong step when applying for sharia-based used car financing.
How to Apply for Sharia Used Car Financing
Interested in buying a used car through sharia financing? The process is actually quite straightforward, as long as you know the steps. Here’s a simple guide:
1. Choose a Sharia Financing Institution
Select a trusted sharia financial institution that offers car financing products suited to your needs.
2. Decide on Your Car
Choose a used car that fits the criteria set by the financing institution.
3. Prepare Your Application Documents
This usually includes your ID card, tax number, payslip, and other supporting documents.
4. Wait for Approval
The institution will review your financial eligibility before making a decision.
5. Sign the Agreement (Akad)
Once approved, both you and the institution will sign a contract outlining the terms of the financing.
6. Start the Installments
After completing the process, you can begin making payments according to the agreed akad.
Tips to Get Your Sharia Car Financing Approved
Even if your documents and requirements are complete, your application can still be rejected for various reasons. To increase your chances of approval, here are some tips worth considering:
1. Consider Your Budget and Financial Capability
Before applying, set a realistic budget and make sure you can pay off the installments in full. Ideally, monthly installments should not exceed 30% of your total income, especially if you already have other ongoing loans. This way, you won’t overextend yourself and can avoid a bad credit record.
2. Check and Maintain Your Credit History
If this isn’t your first loan, review your credit history beforehand. You can check your eligibility through SLIK. A good credit record should be maintained since every financing application will be reviewed via BI Checking.
3. Maintain a Positive Credit Track Record
Be consistent in paying off previous loans—such as mortgages—on time. This builds your reputation as a disciplined and trustworthy customer, which greatly affects your approval chances.
4. Decide on the Car and Inspect Its Condition
Choose a car that matches your financial capacity. Many sharia institutions even offer financing with no down payment.
Always check the car’s condition thoroughly. New cars are usually straightforward, but for used cars, it’s best to inspect them at least twice: once when meeting the seller and again before signing the contract or receiving the vehicle.
5. Complete All Required Documents
Ensure all documents are ready before submitting your application. For used cars, besides your personal documents (ID, tax number, payslip), make sure the car documents are complete as well—BPKB, STNK, invoice, and others.
This not only speeds up approval but also minimizes risks of future legal or ownership disputes.
6. Choose a Credible Financing Institution
As interest in sharia financing grows, so does the number of institutions offering it. However, unlike conventional financial institutions, finding information on sharia institutions may not always be easy.
That’s why it’s important to choose one supervised by the Financial Services Authority (OJK) and the Sharia Supervisory Board (DPS), ensuring that every transaction complies with sharia principles.
Those are some tips for buying a used car through sharia financing. By understanding the steps, you can feel more confident and secure in choosing your dream car.
The process will also be smoother if you prepare the required documents early on.
For those of you who want to own a used car in a halal, safe, and transparent way, BFI Finance Syariah is here as your solution through its Sharia Business Unit.
With Sharia Used Car Financing, you can enjoy financing facilities that follow Islamic principles with a trustworthy process. This way, your efforts to own your dream car can be more comfortable and blessed.
In addition to used car financing, BFI Finance also provides a wide range of other sharia financing options. All financing services are directly supervised by OJK, so their security is guaranteed.
Make your dream come true with BFI Finance Syariah—because with trustworthy sharia financing, you’ll always feel #MuchMoreAtEase.
