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Struggling to buy a car as an expat

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  • Struggling to buy a car as an expat

    I have been struggling to get the all new rush car by Toyota to no avail. I made the deposit and the agent in Toyota kept telling me he was waiting for approval from Finance. This morning, he told me that the rules have changed for expats. Instead of depositing 42 juta as down payment, expats must deposit about 92 juta as down payment. In fact, this means I have to add additional 50 juta to the 42 juta I gave, This is frustrating. Can anybody explain this to me? What is the alternative? What if I buy the car in an Indonesian friend's name instead so that I would just pay the 42 juta as deposit? Anyone with experience in this field can help me or if you can recommend a reliable agent of Toyota to help. Thanks.

  • #2
    It seems the down payment is around Rp50 million (unless the website data is not updated) . Check in the internet for more data (search for something like : uang muka untuk Toyota Rush) .

    Note : To get the car documents in you name , you need to have a KITAS/SKTT ot a KITAP/KTP WNA .


    (from https://www.cermati.com/kredit-mobil/toyota-rush)

    [... Rush G VVTI ... Rp239'900'000 , Uang Muka Rp47'980'000 ...]


    https://www.oto.com/mobil-baru/toyota/rush/harga

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    • #3
      I do have KITAS but the guy working with TOYOTA is the one giving me this information. He came back and told me that TAF ( Finance) says that I need to add 50 juta to what I have already deposited, making a total of 92 Juta. Meaning, I would be paying 25% instead of the initial 15 percent he told me 2 months ago. This was the reason for my confusion. How complicated has it become for expats to buy cars on credit when they already have KITAS?

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      • #4
        Originally posted by Everycedicounts View Post
        ... How complicated has it become for expats to buy cars on credit when they already have KITAS?

        I didn't hear anything about complications before .

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        • #5
          I am wondering if request for a greater down payment is something that is now applied to all expats or is specific to an assessment of the creditworthiness of the OP.

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          • #6
            According to the agent, my credit worthiness is not in doubt, and my bank book shows a considerable inflow of cash and it is quite substantive in that respect. I got a second agent who says he can help me and I am keeping my fingers crossed. In fact, I have my suspicion that the first agent used my money for 3 months and obtained some profits/ interest from it , knowing very well that he wouldnt be able to help. I heard such things happen in Indonesia.

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            • #7
              Originally posted by Everycedicounts View Post
              ..., I have my suspicion that the first agent used my money for 3 months and obtained some profits/ interest from it ...

              In a Credit Union I know , for Rp50 million in 3 months it would pay a little more than Rp1 million in interest .
              Last edited by marcus; 09-04-18, 20:18.

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              • #8
                Normally to buy a car in bali you need a ktp wna , without which you cannot ,as far as I am aware expats cannot take a loan .

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                • #9
                  Originally posted by tel522 View Post
                  (1) Normally to buy a car in bali you need a ktp wna , without which you cannot ,

                  (2) as far as I am aware expats cannot take a loan .

                  Checking in the internet , I found the information below at http://www.hukumonline.com/klinik/de...n-di-indonesia , written in Sept. 2014) :

                  (1) The Police accepts vehicles registration by foreigners with KITAS or KITAP according to Article 10 paragraph (2) of Perkapolri 5/2012 (see below) . According to members of this Forum , it is necessary to have the "NIK" which is stated in the Catatan Sipil's SKTT (for KITAS holders) or KTP WNA (for holders of KITAP) .

                  [ ... (2) Regident Ranmor's implementation as referred to in paragraph (1) shall be made against Ranmor owned by:
                  a. Individual Indonesian Citizen;
                  b. an individual Foreign Citizen who has a Temporary Stay Permit (KITAS) or a Permanent Stay Permit (KITAP) in Indonesia;
                  c. Government agencies other than the Indonesian National Army or Police; and legal entity of Indonesia or a foreign legal entity with permanent office in Indonesia.


                  (2) It seems that you are right (see below) , unless there is already a newer Regulation stating otherwise or the Regulation below does not apply to Everycedicounts' case where the credit is from the car manufacturer .

                  [ ... From Pasal 3 Peraturan Bank Indonesia Nomor 7/14/PBI/2005 tentang Pembatasan Transaksi Rupiah dan Pemberian Kredit Valuta Asing oleh Bank (“PBI 7/2005”) banks are prohibited from giving credit in rupiah or foreign currency to foreign parties. Foreign parties as referred to in the provision shall include: (see Article 1 Sub-article 2 of PBI 7/2005)

                  a. foreign nationals;
                  b. foreign legal entity or other foreign institution;
                  c. Indonesian citizens who have permanent resident status of another country and are not domiciled in Indonesia;
                  d. overseas Bank offices of a bank having its head office in Indonesia;
                  e. offices of overseas companies of Indonesian incorporated companies.]
                  Last edited by marcus; 09-04-18, 20:16.

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                  • #10
                    I think you should get your money back from the credit agent asap .

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                    • #11
                      Originally posted by marcus View Post


                      Checking in the internet , I found the information below at http://www.hukumonline.com/klinik/de...n-di-indonesia , written in Sept. 2014) :

                      (1) The Police accepts vehicles registration by foreigners with KITAS or KITAP according to Article 10 paragraph (2) of Perkapolri 5/2012 (see below) . According to members of this Forum , it is necessary to have the "NIK" which is stated in the Catatan Sipil's SKTT (for KITAS holders) or KTP WNA (for holders of KITAP) .

                      [ ... (2) Regident Ranmor's implementation as referred to in paragraph (1) shall be made against Ranmor owned by:
                      a. Individual Indonesian Citizen;
                      b. an individual Foreign Citizen who has a Temporary Stay Permit (KITAS) or a Permanent Stay Permit (KITAP) in Indonesia;
                      c. Government agencies other than the Indonesian National Army or Police; and legal entity of Indonesia or a foreign legal entity with permanent office in Indonesia.


                      (2) It seems that you are right (see below) , unless there is already a newer Regulation stating otherwise or the Regulation below does not apply to Everycedicounts' case where the credit is from the car manufacturer .

                      [ ... From Pasal 3 Peraturan Bank Indonesia Nomor 7/14/PBI/2005 tentang Pembatasan Transaksi Rupiah dan Pemberian Kredit Valuta Asing oleh Bank (“PBI 7/2005”) banks are prohibited from giving credit in rupiah or foreign currency to foreign parties. Foreign parties as referred to in the provision shall include: (see Article 1 Sub-article 2 of PBI 7/2005)

                      a. foreign nationals;
                      b. foreign legal entity or other foreign institution;
                      c. Indonesian citizens who have permanent resident status of another country and are not domiciled in Indonesia;
                      d. overseas Bank offices of a bank having its head office in Indonesia;
                      e. offices of overseas companies of Indonesian incorporated companies.]
                      I am not disputing that banks cannot make loans to foreigners, but I wonder how that squares with my experience that banks almost shove credit cards down your throat when an account is opened. Is extending revolving credit to foreigners with money in the bank, viewed as different than granting a conventional collateralized loan to a KITAS holder, especially when the credit card limit can be high enough to buy a used (make that a well used) car.

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                      • #12
                        Originally posted by waarmstrong View Post
                        I am not disputing that banks cannot make loans to foreigners, but I wonder how that squares with my experience that banks almost shove credit cards down your throat ... Is extending revolving credit to foreigners with money in the bank, viewed as different than granting a conventional collateralized loan to a KITAS holder, ...

                        Good point , Waarmstrong . I didn't think that far .

                        Returned to the internet and found that credit card is one of the rule's exception , and car may also be (see item "c" below) . Recently foreigner's owned property under Government Regulation No. 103 of 2015 was specifically mentioned as eligible for a bank loan too (see below) .


                        (from http://www.hukumonline.com/klinik/de...-di-indonesia- , Jul 2011)

                        [ ... Based on Article 3 of PBI 7/2005 (Peraturan BI), banks are prohibited from providing credit in rupiah or foreign currency to foreign parties. ...

                        Exceptions to the prohibition on lending above include:
                        a. credit in the form of syndication that meets the requirements ...
                        b. credit card;
                        c. consumption credit used in the country;
                        d. intra-day intercepts of rupiah and foreign currencies supported by authenticated documents ...
                        e. overdrafts in rupiah and foreign currency due to imposition of administrative costs;
                        f. the acquisition of a bill from a government-appointed body to manage bank assets ... ]


                        -------------------------------------------


                        (from https://artikel.rumah123.com/orang-a...erti-wni-32178 , Nov 2016)

                        [ ... Bank Indonesia (BI) instructed all red-plated banks (BUMN) and private companies to provide convenience for foreigners who want to buy property in Indonesia. "BI and OJK (Financial Services Authority) have no problem in giving credit to foreigners, including KPR or KPA. There is no difference in the down payment for Indonesian citizens or foreigners," said Director of Makro-prudential Department of BI, Yati Kurniati, at Forum Group Discussion (FGD) at Raffles Hotel, Jakarta, Monday (31/10) ... ]
                        Last edited by marcus; 15-04-18, 11:43.

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                        • #13
                          Thanks, Marcus, for the added detail. Fortunately we have always been able to pay cash; so far, anyway. I am not at all conversant with the rules for securing a loan, but at least now I am aware that getting a local loan could be a hard row to hoe.

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