Have you ever followed the term excessive car installments? This term refers to the transfer of ownership of a car, from the initial owner to the current owner.
Excess installments are common if the original owner is unable to continue the installments, as a result, new customers are sought to continue their credit.
For insured means of transportation, can the installments be excessive? Of course you can, but there are tips that must be tried so that insurance can be claimed if it sometimes crashes or runs out. Further description:
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Excessive Credit Car Insurance Tips
1. Live in a trusted leasing
In fact, you can transfer ownership of the car without the encouragement of any party. But to be more comfortable, you should go this way on the side of trust leasing. At least with the encouragement of leasing, the excessive installment business will be easier.
Not only that, the leasing party also wants to help speed up the search for potential car customers. So, you don’t have to wait very long until the conclusion is that transportation equipment is selling well.
2. Must report to the insurance company
After reporting to the leasing party, don’t forget to report this excessive installment problem to the insurance company. The goal is to avoid the problem of denied claims which often occur due to the transfer of ownership of the means of transportation.
By reporting, until the nickname of the owner of the insurance policy of transportation means automatically changes. If an accident occurs or runs out, then the owner of the latest means of transportation can make an insurance claim as well as be recorded in the policy determination without being hindered by any problems.
3. Time of Policy Transfer
Likewise, what is recorded in the Standard Motorized Transportation Insurance Policy in Indonesia, the legal era of the policy will end automatically after 10 days the transfer of ownership is attempted by the initial party.
But if the new owner wants to continue paying the insurance bonus by signing a registered contract, then the benefits of transportation insurance are always legal as well as they should be.
Guidelines for Excessive Installment Runs Easily and Safely
Considering that too many installments connect the business in a fairly sufficient number, you need to make sure that the business runs easily and comfortably. So that this matter can be realized, here are some tips that need to be tried:
1. Ways of excessive installments are known by banks
If the purchase of transportation equipment is tried in installments with the bank, don’t forget to tell the bank about this installment’s excessive behavior. The goal is that the bank can take into account the financial expertise of potential customers. Whether financially willing and accepting the amount of monthly installments or not, as a result the problem of bad installments can be minimized as small as possible.
If the current consumer financial situation is deemed appropriate, then the excessive installment method can be immediately resumed. The second party who resides shall initialize the contract in a registered manner which carries the address if the ownership of the means of transportation has changed hands.
2. Stay away from excessive unauthorized installments
Even if you need money by pressing, do not have time to make excessive installments illegally. In the intention of being tried on the basis of the hand or by word of mouth without a registered contract.
If there is a bad installment later that day, then the bank or leasing has the power to sue you for late payments with the fine even though the ownership status has changed hands.
You can sue the second party for this late payment, but the fact is that the claim is not solid. In the end, you are the one who has to bear the impact of the actions of the second party.
3. Make sure traders are free from problems
Before buying a car that has too many installments, make sure the seller is free from the main problems related to paying installments at the bank or leasing. If it is proven that the payment is stuck, ask the initial party to complete the installment payment until the last month. After that, then do the extra installments.
If not, then the payment problem that was previously problematic will be suspended for you to act like the current owner. Don’t let your own negligence cause you to get injured.
4. Divide payments in a transparent way
Before buying a transportation vehicle in excess of installments, it is better to ask the initial party to include the purchase price of the transportation equipment, installment payment details, DP, and other payments. The goal is to achieve clarity during business.
With clarity, you act like a prospective owner of the latest means of transportation, not feeling that the original party is trying to cover something up. As a result, the mind feels more spacious after excessive installments.
5. Checking the situation of transportation equipment and documents
In general, the age of the car with excessive installments is categorized as young, but don’t forget it. Always check the condition of the transportation equipment globally who knows there are defective parts, so you can ask the merchant to fix it first. Or you can fix it yourself with a memo that the seller wants to reduce the selling price.
Not only that, look at the whole deed of transportation means. The deed required is generally different for each bank or leasing, so make sure nothing is too much.
Also Read: 5 Things That Ensure Vehicle Insurance Guarantee Rates
Carry out excessive installments with caution
Do not be easily tempted by the excessive price of economical installments. Look at the history of consumption and payments from merchants carefully. Don’t let the means of transportation change hands, there will be various problems that can harm you financially.