Ges-r.Com – Financing or Islamic car loans can be an alternative for friends who want to have a car. The reason is that Sharia car financing generally uses Murabaha contracts, which are a type of sharia-based buying and selling contract by confirming the acquisition price and profit margin to the buyer. This profit is obtained by agreement between the buyer and the seller.
With the sale and purchase contract, you can find out the profit margin taken by the financing institution, so that the Sharia car financing process runs fairly, transparently, and does not cause prejudice between you as a consumer and a financing institution as a service provider.
In addition, Islamic car financing or loans also provide a fairly attractive tenor, which is a maximum of five years. So, you can more freely manage expenses and sort out the use of funds based on the level of urgency.
Benefits Of Sharia Car Financing
As everyday mobility increases, many people need a car as their daily transport. That way, many people also apply for financing or car loans to meet their needs.
However, some people are reluctant to apply for car financing because there is a burdensome interest. In fact, currently there are financing services or Sharia car loans. In fact, financing or Sharia car loans can benefit friends because the benefits of financing institutions have been informed from the beginning.
As you know, financing or Sharia car loans using Murabaha contracts, so that the principal amount of financing and profits have been informed in advance by the financing institution as a seller. This will make your friend’s financial planning more mature.
These advantages make financing services or Islamic car loans an option for some people to support their daily mobility. Due to the transparency in using the revenue sharing system, it makes it easier for friends to have a vehicle at a more reasonable price. However, before applying for financing or Sharia car loans, make sure you make a projection of income that you can get during the installment period, so it will not feel heavy as long as you pay installments or Sharia car loan financing.
Delay in sanctions channeled to the virtue fund
In Islamic car financing or loan services, there is no penalty if you are late in paying the installments. However, there is another term called Ta’zir, which is a certain amount of funds that must be paid if a friend is late in paying installments with the aim of making friends more disciplined. However, the funds will not be taken by the financing institution, but will be channeled as benevolent funds.
Although in financing or Sharia car loans do not impose fines, friends still have to pay installments according to the specified time. Because, the history of installment payments can be very helpful for friends to get access to wider funding.
These are some of the benefits of Islamic finance. Are friends more confident to apply for financing or Sharia car loans? But before that, it would be better if friends know the tips for filing financing to run smoothly and safely.
Tips For Filing Sharia Car Financing
In order to make the application for financing or Sharia car loans safer, easier, and faster to be approved, there are several things you need to do, including:
Choose a credible financing institution
Before applying for financing or Sharia car loans, make sure you choose a credible and trusted financing institution. The sign of the institution is already legal that has been registered supervised by the Financial Services Authority (OJK), one of which is Adira Finance Syariah.
Adira Finance Syariah is a business unit in Adira Finance that focuses on the development of financing business based on Islamic sharia principles. One of the services is Sharia car financing using Murabaha contracts. By utilizing this service, then you can benefit when applying for financing or Sharia car loans.
Financing or Sharia car loans at Adira Finance can serve friends who want a new car or a used car. For used car financing, friends only need to find the desired used car, then register at Adira Finance to get convenience. Similarly, when friends plan to buy a new car with a financing system.
Note the requirements
Each financing institution has special requirements to be able to take advantage of motor vehicle credit facilities. Well, friends must know and understand the requirements needed to be able to apply for financing or Sharia car loans. After preparing various predetermined requirements, friends must also prepare an advance payment.
You will have to allocate a certain amount of funds to keep in the account for a long time. Later these funds can be used as a down payment. Avoid using the same account as the salary shelter account.
By having funds stored long enough and the balance increases regularly every month, shows that friends are among those who are careful in managing finances. This will have a positive effect on the assessment of the financial institution of friends. Usually the down payment to get financing services or Islamic car loans range from 25% to 30%.
Maintain a track record of financing
Maintaining a track record of financing is one of the tips to apply for financing or fast liquid Sharia car loans. You must show discipline in installment payments over other pre-owned financing. For example, if you already have financing for home ownership, then try to pay the installments on time. By maintaining this track record, Sahabat will be rated as a disciplined and secure customer. This will affect the desired car financing application process.
Take advantage of the online system
Submission of car financing requirements in each financing institution has a different mechanism. There are easy services, but there are also services that actually make it difficult for potential customers.