Tips to Choose the Best Company for Pawning Your Proof of Motorized Vehicle Ownership

17 Oct 2017

Today, there are many companies that offer credit fund by Proof of Motorized Vehicle Ownership pawn. However you need to be careful since there is a high risk of fraud if you recklessly choose the company that you are going to pawn. In this article, we would like to give some tips on choosing the best company for pawning your Proof of Motorized Vehicle Ownership.

Clear Identity of Potential Creditor

You need to first know the identity and clear background of the potential creditor: the person in charge from the company, its legality and office location, to the history of the company like the establishment year and the founders. Once you know the clear information about the potential company, then it will be easier for you to track if there is something happen in the future.

Legality from Financial Services Authority of Indonesia and Indonesia Finance Services Association

For the next step, you have to make sure that the company has been legalized by Financial Services Authority of Indonesia (Indonesian: Otoritas Jasa Keuangan) and Indonesia Finance Services Association (IFSA) (Indonesian: APPI (Asosiasi Perusahaan Pembiayaan Nasional)). This is important because the requirements to get the legalization from both institutions are not easy. Thus, when a company has been granted the legality by both institutions, this can be considered that the company is trusted.

Having a Bank Account on Behalf of the Company

A legal credit company should have a bank account on behalf of the company name. We recommend that you should be careful when the company asks you to transfer your loan to a bank account with personal name as the chance of fraud is high.

The Creditor has a Number of Branches

A credit company that has a number of branches is reasonably more trusted then a company that is located only in one area. As they have more branches, then the company should have enough funds to expand their business and build their credibility to public.

Having a Good Reputation in Public

The last step is that you need to research about the potential creditor from external parties as well. You can easily find reviews about the company in the internet as today people usually tell about bad experience they have with certain services. You can also ask your colleagues who have experienced loaning from the company.

If you are still confused on which creditor to choose, we can recommend BFI Finance as one of the best financial services in Indonesia. As one of the biggest and oldest multi finance companies with a number of branches in Indonesia, BFI Finance is surely safe and trusted for you to pawn your Proof of Motorized Vehicle Ownership.

At the end, we hope that this information help you to choose the best creditor for your needs. 









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