If I am not mistaken quotation from an article in a leading business magazine in the country, about 75% of Indonesian people buy a car on credit. Either through banks or financial institutions (leasing) others. Of course this is a very lucrative market for the financing / bank on the one hand and for consumers / buyers to buy a car (especially new cars) by means of setting up their credit with only about 10% -30% down payment may already have a car , But we realize that behind easy to have a car on credit, it appeared that we had to pay a cost that is very expensive. I will lay out below calculations and explanations are complete.
Consumer understanding is Not Complete
Notice that during this time if we want to buy a car on credit, our main consideration and preparation is just on the ability to pay the mortgage each month. And we also have to take into consideration many other cost components that arise and we have to pay for the car ownership in the credit period, and unfortunately this was the most we forget.
Right now I will discuss about how simulation example a consumer who buys a car on credit below that we collect from the site http://www.oto.co.id September 18, 2007:
Cars: New Toyota Avanza 1500 cc
Cash price: Rp. 131 300 000, -
Advances: Rp. 32.825 million, - (25% of the cash price)
Insurance: USD. 10.6353 million, - (All risk 8.10%)
Instalment: Rp. 3.7875 million, -
Flowers: 12.82 %% per year
Duration: 36 months
Administration: Rp. 475.000, -
Total First Payment: Rp. 47.7728 million, -
Let's look at the process of the settlement to be paid by the consumer for three years as we show in the table simulation file-mobil.pdf:
Total Instalment: Rp. 136 350 000
Total Cost of Gasoline: Rp. 36,000,000
Total Fee Tax: Rp. 4,500,000
Total Cost of Maintenance: Rp. 8,400,000
Total Costs During the whole period of 3 years Loan: Rp. 227 360 300, -
Wow !, behold when we completed the loan period less the total cost we should spend for the car to be very big ...! Remember that much money, you know it is money lost alias charred. Note, too, sort of the purchase costs of gasoline, tax and vehicle maintenance for three years were mostly less concern us when they want a car loan. Yet we must remember also that the car is a thing that will suffer price depreciation (depreciation) from year to year. If we assume the car depreciation of approximately 8% (eight percent) per year, then after the completion of our new car loan rates will be:
Rp. 131 300 000 x 8% x 3 = Rp. 31.512 million. Means that within three years the price of our cars shrank by numbers. So that the car is now only worth Rp. 99.788 million. Try to compare with the total money you pay for 3 years with the condition of the value of our cars now! It was very oppressive ...
What If Invested?
Now for example with money forfeited Rp. The 227 360 300, if we tumbuhkembangkan for example to one of the investment instruments that have the result of return (for / yield) of 10% per year (flat), and we endapkan for 15 years. How much money will we have in the future? Note the table in the file that you downloaded earlier.
Wow, look at the money you save for 15 years now has reached nearly 1 billion dollars ... Well now live you choose, it will still insist to buy a new car on credit but with consequences "singeing" of money? Or intelligently, still spend that much money, but not to buy a car, but dikembangbiakka in the form of investments such as the above calculation.
Solutions and Conclusions
Indeed, there may be cynical about my calculations above, for example: "... why we are so stingy really yes same money, instead it means we become a slave to money ...?" Or also as "... for 3 years it right we can smoothly undergo all matters such as business, etc., so it can get a lot of money, so not seberapalah money spent during those three years ... "
For the first comment instead we stingy / a slave to money, but how can we be wise to treat the money. Moreover, in the future, the need for money would multiply eg children's education, and pensions. For the second comment on the one hand have a point, but please be honest with our conscience, what should be the purchase of new cars on credit to support daily activities and your business?
In my opinion, if we want to buy a car with an intelligent and wise is to buy a second car (in conditions very ok) and purchased in cash. Two main keys used cars and cash, it's the principle. Because the used cars that are still in good condition no less comfortable when we buy new and also with excellent facilities. Because we need to remember every new car we bought immediately out of the dealership, then automatically the price / value went down. And why should be paid in cash, because of course we have to avoid the burden we have to bear the costs (such as interest) that we have to pay over the term of the loan.
Hope can help broaden all of us.