Having a two-wheeled vehicle that has long been a dream is no longer difficult thanks to the presence of a credit facility from a leasing company. However, have you ever tried applying for a motor vehicle loan at the leasing company? If so, did the finance company immediately approve your request? It turns out that applying for credit is not as easy as we imagine.
Actually, the application process is very easy and fast, even in less than a week a new motorcycle can be displayed on the porch. Even so, some people actually fail to taste the credit facilities. The main purpose of a leasing company is to make it easier for consumers to buy a dream motorcycle on credit. However, there are a number of mandatory requirements that must be met before tasting the credit facility. Unfortunately, the rejection of the application is often caused by the inability of potential customers to fulfill each of these important points.
Why is that? The description below will give a clear picture of the ins and outs of the vehicle loan application. There are at least four main reasons why applications for motorcycle loans are rejected by leasing companies.
Unknowingly you are on the blacklist
Do not expect to be able to apply for motorcycle loans in the leasing company if the name has been entered in a blacklist. This case often happens to consumers who have had a motorcycle loan and keep a bad track record in installment payments, whether it’s always late paying, months in arrears and motorbikes are forcibly withdrawn by the leasing party.
In the world of leasing, there is the term blacklist of leasing companies and Checking Black Lists. The term “Bank Blacklist” that is commonly circulating in the community actually refers to the data of problematic debtors in the Bank Fine Bank Debtor Information System (SID). SID is a system that collects information on financing facilities (credit) that are reported regularly every month by SID participating financial institutions, including commercial banks, to Bank Fine Bank as the monetary regulator and payment system in Fine Bank. The integrated system allows a bank to know if there are credit arrears at other banks that apply for credit in place. For the case of vehicle loans in finance companies (leasing) usually, only use blacklist data between finance companies.
Names with bad track records are guaranteed to fail miserably. Therefore, always maintain a good name in front of the leasing party with timely installment payments every month. Try not to take additional motorcycle loans if you are unable to meet the monthly obligations that actually lead to the destruction of good name and blacklisted.
2Income is not enough, ideally, income is 3x of total monthly expenses
The leasing party has the right to reject the application for a motorcycle loan if income is inadequate. They have a team of analysts who calculate income and expenditure items for potential customers in detail. If the number of these two posts is almost equal, then the application is immediately rejected.
In the credit analysis system, the term analysis 5 C is known, one of which is capacity analysis in terms of income feasibility. Income from salary, other income compared to routine expenditure is expected to have a difference to pay installments. Ideally, one of the formulas often used by the survey team is that the installment amount must be a maximum of one-third of the total routine income. Many people try to exaggerate their side income with the aim of being considered to have the ability to pay installments.
Therefore, potential customers must calculate the amount of income and expenses before applying for motorcycle loans. Do not let the nominal expenditure amount is almost as big as the income which is actually a strong reason for the leasing party to refuse the application submission.
Requirements are incomplete and difficult for potential customers to contact
The leasing party needs the prospective customer’s personal data, thus requiring a photocopy of their KTP and Family Card. In certain conditions, prospective consumers are also asked for a number of additional data such as employment certificates, proof of homeownership, certificate of domicile to divorce or death certificates.
Credit cases being rejected can also be caused by an Applicant Difficult to Contact. If you apply for electronic credit then make sure your phone number is stand by and easy to contact from the leasing party. If the applicant is difficult to contact by the leasing party then the submission process will be slow and difficult for further processing. The leasing company can assume that when applying for credit it is difficult to contact, especially if there is a disbursement later.
If the data requirements are incomplete, especially if you are hard to contact, the greater the chance of rejecting a motorcycle loan application. Therefore, try to meet the requirements of the leasing including additional data. Usually, additional data only requires about 1-2 documents, depending on needs.
There is no good intentions alias less cooperative during the survey process
Prospective customers are rejected by the leasing party because there is no good intention to cooperate with alias cooperative during the survey process. There are two main things that become the main consideration, namely:
a) It does not provide complete and correct personal data information. At the time of the survey, potential customers must be open and not lie when giving information on personal data. If there are no good intentions in this regard, don’t be surprised that the application is rejected. Therefore, do not hesitate to give information correctly and clearly.
b) Not cooperative during the survey process. Many potential customers fail to bring home the dream motorbike because of the uncooperative attitude during the survey process. Avoid unpleasant behavior on the part of surveyors. Do not hesitate to open the door of the house and be friendly to convince representatives of the leasing party.
Also, note that the key to a successful survey can also be determined by the results of your environmental survey. If you are good in the eyes of the neighbors, the survey results will be positive and if you have bad character, then the environment around your house will also find out. There is an obligation of the surveyor to check the character of potential customers to the surrounding environment.