Bagi sobat yang pernah mengajukan kredit pemilikan kendaraan dan kredit pemilikan rumah (KPR), tentu pernah membandingkan suku bunga yang ditawarkan oleh kedua transaksi tersebut. Bila diperhatikan, tingkat bunga kendaraan selalu lebih murah daripada tingkat bunga KPR. Hal ini mungkin menimbulkan pertanyaan, bagaimana perusahaan multifinance yang notabene mengandalkan modalnya dari pinjaman bank, dapat memberikan tingkat bunga yang lebih murah daripada bank?

Kali ini kita akan berkenalan dengan konsep tingkat bunga flat (yang dibebankan oleh perusahaan multifinance) dan tingkat bunga normal yang dibebankan oleh bank (pada umumnya disebut sebagai tingkat bunga efektif, walaupun sebenarnya ada perbedaan definisi antara kesuanya).

Marilah kita mulai dengan definisi kedua tingkat bunga tersebut. Definisi tingkat bunga flat adalah, tingkat bunga yang dibebankan setiap bulan secara mendatar dari pokok pinjaman awal, mulai bulan pertama pembayaran cicilan sampai akhir masa pembiayaan. Sementara, tingkat bunga normal adalah, tingkat bunga yang dibebankan setiap bulan dari sisa pokok pinjaman yang tentunya setiap bulan selalu berkurang, karena KPR yang menggunakan system anuitas, membagi cicilan perbulan menjadi porsi bunga dan porsi pokok pinjaman.

Untuk memperjelas, mari  kita mempergunakan ilustrasi. Anggap bapak A memperoleh fasilitas kredit kendaran Rp 100 juta, dan pada saat yang sama juga memperoleh fasilitas KPR senilai Rp 100 juta. Perusahaan Multifinance membebankan tingkat bunga flat 5% per tahun untuk masa cicilan 1 tahun, sedangkan bank membebankan tingkat bunga normal 7% per tahun untuk masa cicilan 1 tahun. Maka, jumlah bunga yang harus dibayar selama setahun oleh bapak A untuk fasilitas multifinance nya adalah sebesar 5% x Rp 100 juta = Rp 5 juta. Total pinjaman + bunga akan menjadi Rp 105 juta, dan cicilan per bulan adalah sebesar Rp 8.750.000 (100 juta + 5 juta dibagi 12 bulan.

Sementara, untuk fasilitas KPR nya yang mempergunakan sistem anuitas, dengan mempergunakan kalkulator financial, akan diketahui bahwa cicilan per bulan yang harus dibayar setiap bulan adalah sebesar Rp 8.602.500,-

Dari ilustrasi di atas, terlihat bahwa walaupun tingkat bunga multifinance lebih kecil dari tingkat bunga bank (5% dibanding 7%), namun, cicilan per bulan yang harus dibayar oleh bapak A kepada perusahaan multifinance lebih besar daripada cicila yang harus dibayar kepada bank (Rp 8.750.000,- dibanding Rp 8.602.500,-).

Nah, penjelasan ini dapat menjawab, mengapa perusahaan multifinance yang mengandalkan bank sebagai sumber dananya, dapat membebankan tingkat bunga yang lebih murah daripada bank.

Ada dua tujuan utama perusahaan multifinance mempergunakan tingkat bunga flat :

1. Agar tingkat bunga yang ditawarkan kelihatan kompetitif, walaupun dibandingkan dengan bank.
2. Agar konsumen dapat turut menghitung jumlah cicilan dengan mempergunakan kalkulator biasa, karena cara menghitungnya lebih sederhana.

Demikian penjelasan singkat mengenai kedua tingkat bunga diatas. Bagi yang berminat mengetahui secara lebih detail, dapat menghubungi saya di email tcs.agus@gmail.com

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Apakah sobat pernah mendengar istilah “leasing” atau “kredit”?

Saya yakin, banyak di antara sobat yang pernah bahkan akrab dengan istilah tersebut. Contohnya, seseorang membeli mobil seharga Rp 100 juta, mempergunakan uang sendiri sebesar Rp 30 juta (30% dari harga mobil, sebagai uang muka), dan sisanya sebesar Rp 70 juta dipinjam dari lembaga keuangan tertentu. Pinjaman sebesar Rp 70 juta tersebut kemudian dibayar secara mengangsur setiap bulan selama periode waktu tertentu. Untuk transaksi tersebut, lembaga keuangan mengenakan sejumlah bunga pinjaman sehingga total jumlah yang dikembalikan akan lebih besar dari Rp 70 juta.

Transaksi tersebut merupakan salah satu contoh dari bisnis Multifinance, bila yang meminjamkan uang (financier/lessor) adalah lembaga keuangan non bank.

Bisnis Multifinance mulai diperkenalkan di Indonesia pada tahun 1974, oleh salah satu perusahaan keuangan Jepang yaitu OBUL (Orient Bina Usaha Leasing). Pada saat itu, transaksi masih terbatas dalam bentuk leasing. Selanjutnya, bisnis ini menjadi popular pada era 90-an, setelah diluncurkannya pakto 88 oleh pemerintah Indonesia. Hingga saat ini, tercatat lebih dari 100 perusahaan Multifinance yang aktif menjalankan kegiatannya.

Sebenarnya, jangkauan produk Multifinance lebih luas daripada pinjaman cicilan yang dicontohkan diatas.
Produk Multifinance di Indonesia mencakup bentuk-bentuk transaksi yang diterangkan sekilas dibawah ini :

1. Leasing (Sewa Guna Usaha)
Yaitu, fasilitas penyediaan barang modal bagi kegiatan yang bersifat produktif. Contohnya, leasing truk atau alat berat.

2. Consumer Finance (Pembiayaan Konsumen)
Yaitu, fasilitas pinjaman untuk barang-barang konsumsi. Contohnya, pembiayaan kendaraan pribadi (mobil/motor), alat elektronik, perlengkapan rumah tangga.

3. Factoring (Anjak Piutang)
Yaitu, fasilitas pemindahan piutang suatu badan usaha ke lembaga keuangan tertentu. Contohnya, perusahaan A memiliki piutang sejumlah Rp 100 juta. Karena membutuhkan dana tunai, pituang tersebut dicairkan dalam bentuk tunai oleh perusahaan Multifinance kepada perusahaan tersebut, dan selanjutnya piutang tersebut akan menjadi piutang dari perusahaan Multifinance.

4. Credit Card (Kartu Kredit)
Banyak yang belum mengetahui bahwa perusahaan Multifinance juga memiliki ijin untuk mengeluarkan produk kartu kredit. Pada prakteknya, bisnis kartu kredit di Indonesia masih dikuasai oleh perbankan dibandingkan Multifinance.

Pada intinya, perusahaan Multifinance memperoleh pendapatan dalam bentuk bunga dengan tingkat bunga tertentu, dan produk Multifinance akrab dengan pembayaran cicilan/angsuran.

Demikian perkenalan kita dengan bisnis Multifinace. Pada posting-posting selanjutnya saya akan mencoba menerangkan bisnis ini secara lebih mendalam.

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Even though term of Leasing often used by most of people, but actually only limited people who really understand the definition and role of leasing, especially equipment leasing. Leasing transaction is considered as a quite complex transaction in term of tax and accounting. Even daily practitioner sometimes get into some confuses and cause additional cost for their lessee due to it’s complexity. Moreover, different country usually has different legal and tax regulation related to leasing, so that leasing practice in one  country may not be valid in other country.

Even though there are some complexities in practice, but basically leasing has similar nature regardless prevailed regulation in any country. Basically, leasing transaction can be separated into two main categories: financial leases and operating leases. Financial lease represents a longer term lease commitment in which the sum of the rents due will approximate the equipment’s purchase cost plus profit of the lessor (full pay out). Meanwhile, all lease transaction which is not fitting with the financial lease can be put into operating lease category.

Within the two broad categories, are some basic variations. The most popular variation in major Asian countries is  leverage lease, beside other service lease and non leveraged lease. These variations are sometimes incorrectly considered to be separate types of leases rather than descriptive forms of the basic types. For example, finance leases can be leveraged leases or non leveraged leases, and service leases can be financial or operating in nature.

This posting will briefly explain three of leasing categories, ie financial lease, operating lease, and leveraged lease.

1. Financial Lease

Financial leases are considered long term leases because the primary lease terms usually run for most of the equipment’s useful life. Typically, the total cash flow over the term—from rents, tax savings, and the end-of-lease equipment (residual) resale or re-lease value—will be sufficient to pay back the lessor’s investment, take care of the administrative expenses, pay off any equipment-related debt obligations and commissions, and provide a profit (full pay out).

Because they are entered into by lessors as long-term financial commitments, finance lessors usually impose a substantial repayment penalty for a lessee’s early lease termination in an amount that will assure the lessor of a return of its investment and a profit, at least up to the date of termination.

Under financial lease, the fundamental ownership responsibilities, such as maintaining and repairing the equipment, paying for the necessary insurance, and taking care of property, use, and sales taxes, are placed on the lessee. So, financial lease can be compared with loan in that the lessor, like a lender, is involved only in asset funding.

In financial lease, lessee bears a major risk of lease item obsolescence, so that common lease item in financial lease are the items which has quite significant resale value compared with it’s brand new price.

2. Operating Lease

When full pay out condition is not fulfilled in lease transaction, the lease is called an operating lease. Operating lease can be span a few months to a few years, although some are as short as a few hours.

Because the lease terms are relatively short, an operating lessor usually cannot earn much of its equipment investment back through the rents from one lease transaction; thus, it must either sell or re-lease the equipment on attractive terms to be profitable.

Their short lease terms and easy cancellation provisions make operating lease attractive to users in several situations, especially if the user has planning to use the lease item in short period only. For this kind of transaction, it seems similar with rental transaction.

Other benefit for using operating lease to lessee is if residual value of item is very much depreciated or the item is related to fast changing technology. By using operating lease, the risk of obsolescence is born by lessor instead of lessee. So that, lease rent of operating lease is usually higher compared with financial lease.

3. Leveraged Lease

Both financial lease and operating lease can use this kind of variation. In a leveraged lease, lessor only cover some major percentage of purchase amount, let say 60% up to 80% of it. This leveraging generally enables lessor to provide a lessee with relatively lower rents while at the same time maintaining its return.

This kind of lease transaction is commonly used in Asian countries. Since the country risk is considered higher compared with other developped countries, lessor only take some portion of financing, and lease term will be set for shorter period (usually 3 years only). As consequence, credit risk will be lower and lease rent doesn’t reduced significantly due to shorter lease term.

There are a lot of variation of lease transactions, but in basic those three lease categories already covered the definision of leasing.

Tags: lease, Leasing

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Buying a new car for personal uses is the thing we usually do periodically, in line with increasing of our income and lifetime period of current car. It’s good if we can buy it by cash, but in most case we have to buy it by using auto financing due to limited cash on our hand.

Instead of get rush going to car dealer and experience unexpected bad things after that, here is some easy step by step tips to do for best auto financing :

1. Set up maximum monthly budget of loan repayment

Setting up a budget is important thing, to ensure our capability in making good loan repayment. Once we have certain amount of fixed budget, then we can start to choose our dreamed car by choosing the one which suitable with our budget. We can do simple simulation using online car loan calculator, compare several different set of car price, down payment, and term of loan. With this kind of simulation, we have one comprehensive picture about the most suitable car to purchase under current budget. Please see this basic budgeting post if you still confused how to set up the budget.

2. Find a good lender

We can find them fast and easy by online. By sending some basic information, we can get offering from some different online lenders just in minutes. Then, make a comparison between them. Two factors should be noticed when choosing a lender. The first is quality of lender, by checking their reputation as a company comparing with other lenders, popularity among other borrowers, and variation of financing program they provide. Second thing is their competitiveness, including offered interest rate and other charged fees. Several things will determine interest rate offered by lenders, but the most dominant factor is our credit score rating.

3. Enjoying car windows shopping before auto financing approval

When we have decided a lender, just send our loan application and waiting for their approval. Usually it needs a couple of days. While waiting for the approval, we can do car shopping by visiting car dealers, collecting offering letter from them, and choose the best dealer. Once our application is approved, then we have decided from where we will buy the car.

4. Ensure that we have loan payment protection insurance

We can’t expect the future anyway. This protection is important to secure our loan repayment in case something happened to us and we cannot continue to perform monthly repayment. Some lenders provide such protection together with their financing package. If our lender doesn’t provide it, go online and find good reputable insurance company easily.

5. Maintain good repayment performance

Yes, we have a new car now. Further important thing to do is to maintain good repayment performance until the end of financing period. It’s necessary to maintain good personal reputation since today is not the end of the world. With good credit score, we can get easy loan approval from good lender for any loan we need in the future, and enjoy lower charged interest rate.

Tags: Auto Financing, Loan

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