Indonesia Used Car Financing Industry Overview
The Indonesian used car financing market is dominated by several key players such as ACC Finance, BFI Finance, Oto Multiartha, MPM Finance, Batavia Prosperindo, Toyota Astra Finance (Toyota and Daihatsu), Dipo Star Finance (Mitsubishi), Bussan Auto Finance (Yamaha), and Suzuki Auto Finance (Suzuki). Banks, captives, and multi-finance companies are the leading lenders for cars, with banks also lending to used car buyers. Fin-tech startups have emerged, creating tools to digitize the banking sector, including online payments, lending, aggregation, and remote banking capabilities. This simplifies the loan process and helps the vehicle finance segment grow. For instance,
- In June 2023, Jardine Cycle & Carriage (C&C) and Carro announced a strategic partnership valued at over USD 60 million. The partnership involves Carro acquiring a stake in Jardine's subsidiary, Republic Auto, and Jardine C&C acquiring an equivalent stake in Carro. The partnership aims to control the strengths of both entities, with Jardine C&C being an established player in the automotive industry and Carro being a technology-driven company with multi-platform experience.
• In March 2023, Broom, a startup in Indonesia, unveiled a groundbreaking automated asset-backed lending service for used car dealers. This innovative solution is expected to revolutionize the auto-financing industry by streamlining the lending process and providing dealers greater access to funding for their business needs. With Broom's cutting-edge technology, dealers can now get quick and hassle-free loans at competitive rates, enabling them to grow their businesses with ease.
Indonesia Used Car Financing Market Leaders
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Astra Credit Companies (ACC)
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PT Toyota Astra Financial Services
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Suzuki Finance Indonesia
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PT JACCS Mitra Pinasthika Mustika Finance Indonesia (MPM Finance)
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Oto Multiartha
- *Disclaimer: Major Players sorted in no particular order
