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Used cars financing to soar in the end of the month

JAKARTA: Multi finance companies with used cars segmentation projects a rise over new financing disbursement in the end of this month or slower compared to last year where it rises two months before fasting month.Last years trend of rising disbursed

JAKARTA: Multi finance companies with used cars segmentation projects a rise over new financing disbursement in the end of this month or slower compared to last year where it rises two months before fasting month.Last years trend of rising disbursed financing is faster compared to this year, said Director of PT Sinar Mitra Sepadan Finance (SMS Finance) Gabriel Mahyudin.It is relatively slower this year. Yet, hopefully, although it is lower it may record significant jump in the end of this month due to the accumulated financing, he told Bisnis recently.He further perceived used cars sector as promising as there is still supply problem for new cars until early July. This problem in fact positively affects used cars segment.Yet, as he added, the projection of industrial players, saying used cars segment will grow missed the estimation although new cars segment growth also stalls.Initially, we predict it to rise. Yet, the growth is modest.Director of PT ANJ Finance Danusubroto Sugiarto shared the similar notion as he projects a rise over financing disbursement for used cars to take place in the end of this month.A stalled financing of used cars ahead fasting month will not shake the monthly financing growth, Danusubroto added. According to him, it is reflected by IDR990 billion disbursed financing or almost a half of this years target at IDR2 trillion.Passenger carOf such used cars segment, car passengers has higher opportunity to further grow compared to commercial cars.PT BFI Finance Indonesia Tbk Corporate Secretary Budi D. Munthe perceives financing for commercial used cars to display fluctuated growth as sometimes the demand soars and afterwards moves stagnant since many industrial players withhold their business.Usually, it will slightly rise yet, approaching Ied Mubaraq, the growth is relatively stagnant as the business circle stalls.The similar phenomenon also occurs in heavy equipment segment whose growth possibly declines as few mining or plantation contractors raise their production during fasting or Ied Mubaraq. (t02/msw)

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