Toyota Credit Car Credit Calculator Application
For some people, purchasing a car with a loan may seem to be the right choice, especially when one haven’t have enough money on hand to buy a car with cash. However, even though taking loan seems to be the right choice, doesn’t mean you do not have to take the calculations thoroughly into consideration. It is important to first calculate the amount of credit to be paid before taking a loan, this is to ensure, that you have the financial capacity to pay the loan. If it isn’t calculated thoroughly, you may only then later find out that you are not capable of paying the payments incurred.
Thanks to the increasingly rapid technological developments, now we can all benefit from using the calculator application for credit before applying for a car loan. This credit calculator application will make counting the amount of loan based on the tenor selected, easier. And other than just that, this application also allows us to calculate the amount of Down Payment as well as estimating the right amount of time to pay up of the car loan.
Things You Should Pay More Attention to When Taking a Car Loan
Before taking a car loan there are certain things that you should pay attention to. First, determining the amount of the on the road (OTR) Down Payment. Generally, it will be 20% - 30% from the total price of the car. For example, if a car is priced at Rp 200.000.000, to reduce the installment burden, take 30% or more of OTR Down Payment. For example if it’s 30%, hence, it will be Rp 200.000.000 x 30% = Rp 60.000.000.
Second, calculate the lease interest fee or calculate according to what has been determined by the bank you chose for the car loan. Both the leasing company and bank will determine the amount of interest that should be paid during the tenor duration. Usually, the longer the amount of time you choose, the higher the interest rate is. Generally, for 1-3 year duration, the average interest rate is 6% to 8% of the price of the car.
Third, is calculating how much installments must be paid each month. Calculating this is quite easy as well, simply add the credit principal with an interest rate. Then, divide it with the tenor.
Not to forget as well, include the rates for insurance and administration fees for applying the car loan.
If you have thoroughly calculated and determine everything, you may prepare all the necessary documents needed to apply for loan such as copies of your Identity Card and the recent Pay Slip or Bank Statements.
Calculating the loan with the Toyota FLEX Application
In this era of digitalization, even automotive companies like Toyota provide easy access in a digital form for customers to calculate their own credit online. Through Toyota Finance, Toyota provides a Toyota FLEX Application, an application designed to bring Toyota Financing Services closer to consumers.
This application is very practical for users; it allows users to calculate the amount of loan needed for any Toyota cars they want. Toyota FLEX basic concept itself is “Calculate, Estimate, and Apply”. This means, that you can calculate and estimate your own credit capacity based on your current financial condition and apply for loan on your own. Moreover, if you are a customer of Toyota Finance, you are allowed to access other services on Toyota Finance such as:
- Information relating to the contract (Virtual account number for payment, due date, installment payment method, etc)
- Register e-account service (auto sent payment statement via email)
- Perform a simulation of changing the Due Date
- Perform an accelerate repayment simulation
- Receiving the soft copy documents for STNK tax extension
- Booking for BPKB (Car Ownership Certificate) withdrawal
Isn’t it easy and very helpful to use Toyota FLEX from Toyota Finance? To register and use this application you can click here to scan the QR CODE and download it. You can also contact us on “Hello, TAFriends!” at 1500550 for further information.