Almost forgot, there are some things that you have to take into account before you decide to get a motorcycle loan. You can learn from some of the mistakes that people often make when motorcycle loans are made.
Not Calculating Own Finance
Before deciding to take a motorcycle loan, it is important for you to know how your financial condition is to avoid things that are not desirable.
In general, three basic things are needed to be able to calculate their own finances, namely logic, art, and financial planning. Making a financial plan requires logic to be realized.
In addition, art is also needed in making financial plans, meaning that a financial plan implemented by someone will certainly be different from other people.
Finally, the financial plan must also be supported by knowledge and experience in the financial field.
If you feel that the knowledge and experience you have in the field of finance is mediocre or even very lacking, you can use the help of the Peter Pan Application.
Through the Dana Beli Item feature in the Peter Pan Application, applying for a motorbike loan will be easier to understand.
In this feature, you can calculate the amount of costs that must be prepared each month along with the estimated inflation. You can easily download the Peter Pan Application via the link below or through the Google Play Store.
Does Not Include Vehicle Insurance
Another common mistake when someone makes a loan is not using insurance.
Many people assume that motorcycle insurance products are an additional unnecessary cost and will only add to expenses, which is wrong.
Indeed, when you add an insurance product to be part of a motorbike, you will be charged a higher installment fee if you don’t use it.
However, insuring the motorbike you buy will actually benefit you.
The existence of an insurance product on the motor you buy will make it safer when you experience an unwanted event. For example, such as loss or accident.
By adding motorcycle insurance products, the costs that you have to spend when having an accident or losing can be cheaper.
Wrong Choosing Leasing
The higher the public’s interest in buying a motorbike on credit makes more and more irresponsible people tempted to use it.
Finally, there are a lot of fake and abusive leasing companies that aim to seek personal gain.
To avoid the risk of fraudulent fake leasing companies like this, it helps you find out first how the credibility of the leasing company you will use.
Ensure that the leasing company has been registered with the Indonesian Payment Companies Association (APPI)
Don’t Find Out When BPKB Can Be Taken
Usually the Motor Vehicle Ownership Book or usually abbreviated as BPKB will be immediately given after you complete the administrative process required.
But sometimes there are several leasing companies that make it difficult to provide BPKB even though the motorbike has paid off. Therefore you should look for clear information about when you will receive the BPKB.
Choose the Longest Credit Term
The long credit period makes the credit installment costs feel lighter. Even though it doesn’t feel heavy, taking credit in the longest period of time will actually hurt you.
On the other hand, this also means you pay more to own a motorbike.
The lower the installments, the more your debt and the interest on the payment. Therefore, choosing credit in a period not too long will be wiser for financial health.
But back again, as I explained before, you still have to adjust to your baby’s abilities every month.
Does Not Pay Attention to Payment Date
Another thing that is not less important than buying a motorcycle loan is the maturity date. Every time you apply for a loan, you will be asked when the due date you want.
Making a payment past the payment date or the due date will hurt you because there will be late fees or fines that you have to pay.
The cost of this fine will make your debt bigger. Therefore, it is important for you to know when the payment due date.
In addition, find out also how much late fees you have to pay if one day you experience late pay for one reason or another.