Second Hand Car Sales in Indonesia is Expected to Reach Over 4.2 Million by 2023: Ken Research

Interest Rate Structure: Individuals who cannot afford to pay the full price of used car generally require loan financing from both public and private banks. Majority of the banks such as AB Sinarmas Multifinance, KKB Astrido Finance, Mega OTO (Kredit Pemilikan Mobil)-Arrear, Bank BRI, KKB Astrido Finance and others offer competitive interest rate for cars that are five years old or less while certain private banks offer used car loans to individuals for cars that are older than five years. The interest rates provided by these institutions vary on the basis of loan amount, car type, age of the car, model, loan tenure and location of the borrower.

Analysts at Ken Research in their latest publication "Indonesia Used Car Market Outlook to 2023 - Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales" believe that expansion in tier-2 and tier-3 cities will create a positive impact on Indonesia used car market. The market is expected to register a positive CAGR of 8.5% in terms of Gross Transaction Value during the forecast period 2018-2023E.

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For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-market-research-report/212624-100.html

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