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Who says you can only buy a used car with a loan at a used car dealership? It’s worth noting that now you can also get a car loan at the IBID auction house.
There are several advantages to buying a used car at IBID. Not only are the prices more competitive, but the auction process is also transparent. On top of that, you can transact safely at IBID because each car has been professionally inspected.
With IBID’s installment program, you can buy a used car with a loan and enjoy several benefits. These include a low down payment (DP) starting from 5%, competitive interest rates, and flexible loan terms of up to 48 months. In addition, the application process is fast, easy, and secure.
This program certainly makes it easier and opens up greater opportunities for you to buy a used car with a limited budget. What are the requirements for used car loan at IBID? Here’s a breakdown.
See also: Here’s How IBID Inspects Used Cars for Accident and Flood Damage
You can buy a used car on credit at IBID through installments as long as the vehicle is no more than 13 years old by the end of the installment period. The requirements for used car loan at IBID are quite simple:
An Indonesian citizen who resides (as per ID) near an IBID branch. For example, if you want to bid at IBID Jakarta, you must reside in Jakarta, Bogor, Depok, Tangerang, or Bekasi. Meanwhile, to bid at IBID Surabaya, you must live in Surabaya, Malang, Kediri, or Jember.
Prospective participants must be at least 18 years of age. Individuals under 18 may apply if they are married or have previously been married. Unmarried participants aged 18 must be represented by a parent or legal guardian. Participants over 70 years old at the end of the installment period must provide a guarantor.
Fill out the application form to participate in the auction process. Submit the required documents based on your profession. Once you meet these three requirements, you can apply for a used car loan at IBID.
See also: How to Safely Bid on Used Cars Online
If you're interested in joining IBID's installment program, here are the steps you need to follow.
Complete the electronic installment application form. Then, confirm the auction-determined price of your chosen car as a reference for estimating the credit limit.
Inspect the desired car during the Open House. After that, the financing company (leasing) will inform the credit application result via the registered email or the auction participant's phone number.
Auction participants whose loan applications are approved are entitled to receive a credit limit.
If the application is rejected, the participant will be contacted by the leasing company. Even so, participants can still join the auction and make the final payment in cash.
The credit limit is valid for 30 days from the approval date of the application and applies according to the vehicle type and year approved by the leasing company.
Auction participants can only use the credit limit once they are declared the Auction Winner.
If the auctioned item won exceeds the credit limit, the participant must pay the remaining balance in cash to IBID.
If the participant wishes to change the vehicle type or year beyond the leasing approval, they must refill the credit application form for the financing company.
Auction participants who have received a credit limit and intend to use it for the used car won must inform IBID's Customer Service at cs.ibid@ibid.astra.co.id.
Once you’ve confirmed, you’ll get Auction Winner Confirmation (KPL) along with the details about the installment scheme.
See also: How To Access IBID’s Used Car Inspection Results
That’s some information about used car credit at the IBID auction house. If you're interested, you can join this installment program and own your dream car with an easy and transparent process.
IBID is a subsidiary of PT Serasi Autoraya (SERA), dealing in auctions of vehicles, heavy machinery, gadgets, and lifestyle products. In addition to being professional and reliable, one of its benefits is the easy process.