Jakarta, CNN Indonesia —
The government provides free incentives tax sale of luxury goods (PPnBM) for purchase car new this year to ease the burden on the community in the midst of a pandemic covid-19.
In fact, the possibility of new car tax incentives will continue next year.
Minister of Industry Agus Gumiwang Kartasasmita is proposing to Minister of Finance Sri Mulyani that the tax exemption can be valid forever for people’s cars at a price of around Rp. 240 million.
So, is this policy a good signal to buy a car?
Founder and Director of OneShildt Financial Planning, Budi Raharjo, said that relaxation from the government, such as exemption from car taxes, could indeed be used. The reason is, the amount of car tax is indeed one of the things that need to be considered when buying a car in addition to the purchase price and maintenance costs later.
“With so many promotions, PPnBM relief, and discounts, this is an opportunity,” Budi told CNNIndonesia.com.
However, according to Budi, incentives like this are not the main reference in considering buying a car. Understandably, buying a car is similar to buying a house, it requires large funds and will affect future cash flow, so it requires careful planning.
Budi said there are at least two main reasons why car purchases should be made. First, the purpose of buying a car.
For example, is it really necessary and urgent to support daily mobility? Or as a business support? Or just prestige?
Second, financial capability. The reason is, the price of buying a car is greater than a motorbike. Likewise with the cost of fuel, maintenance at the workshop, taxes, to insurance premiums.
“Don’t let it be because buying a car is forced, even though routinely its use is burdensome and rarely used, so that the burden of installments and downpayments ends up sacrificing savings and the ability to save,” he said.
Third, consider economic and business conditions, including government policies.
“If there is a drastic change in the economic situation such as a recession, this must be considered,” he added.
FourthHow to buy a car, is it cash or in installments?
CFP Learning & Development Manager Advisors Alliance Group Indonesia Andy Nugroho added, if you buy in cash, you need to prepare for a long time to save.
Meanwhile, in installments, there is some flexibility at the beginning. However, it is necessary to consider the ability to pay in the following months with existing expenses.
However, when accumulated, the actual cost becomes more expensive.
“Moreover, after it is paid off, and then we sell the car, there will be a very significant price depreciation that we have to bear between the total we have to pay compared to the price of the car,” said Andy.
Fifth, buy a new or used car. According to Andy, a used car doesn’t really matter as long as it meets the criteria for needs, for example in terms of specifications, price, and others. However, it is necessary to investigate whether a large additional repair fee is needed or not.
While buying a new car there are usually benefits in the form of a guarantee, free maintenance in the early years, and others, but the price is usually more expensive. This will have an impact on down payments and installments.
Simulation of Buying a Car for Workers with a Salary of IDR 7 Million
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