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Used car auctions are gaining popularity. They offer lower prices, transparent inspections by professionals, and the convenience of online bidding.
Now, you can buy used cars on credit at auction houses, including IBID, just like at dealerships. IBID offers installments through the IBID Installment Program.
This makes it easier for you to buy a used car, especially when you’re on a budget. The best part? IBID’s installment is only for individual bidders.
See also: Closed Auction: New Auction Method at IBID
IBID Installment Program is only applicable to used cars that are less than 13 years old until the end of the installment term. Please see the full requirements below.
You must be an Indonesian citizen and reside (as per ID) in the area of the nearest IBID branch.
For example, if you want to bid at IBID Jakarta, you must reside in Jakarta, Bogor, Depok, Tangerang, or Bekasi. Meanwhile, for IBID Surabaya, you must live in Surabaya, Malang, Kediri, or Jember.
Another requirement is that you must be at least 18 years old. Exceptions can be made for you under 18 if you are or have been married.
If you are 18 and unmarried, you must be represented by your parents. If you will be over 70 at the end of the installment period, you’ll need a guarantor.
Before participating, you must fill out the application and
submit the necessary documents according to your profession.
You can enjoy many benefits with the IBID Installment Program. These include a down payment of just 5%,
competitive interest rates, and a long installment term of up to 48 months. Plus, the process is fast, simple, and safe.
See also: An Easy Guide to Sell Your Electronics at IBID Auctions
To apply for an installment program, you must complete the application form. After that, you need to confirm the auctioned price of the car you want as an estimated credit limit.
You need to check the desired vehicle during the Open House. The company will send you the credit application results to your registered email or phone number.
If your application is approved, you’ll get a credit limit. But if it’s rejected, the company will reach out to you.
You can still bid and pay in cash even if your credit application is denied. The credit limit is valid for 30 days from the approval date.
Your credit limit will be based on the vehicle type and year approved by the financing company. However, you can only use the credit limit after you’ve won the auction.
If you win an auction item that costs more than your credit limit, you need to pay the difference in cash to PT Balai Lelang Serasi.
See also: Don’t Miss Out! Check Out These IBID Auction Branches in Indonesia
If you want to change the vehicle type or year beyond the financing company’s approval, you must reapply for a credit application with the company.
If you win the auction and plan to use your approved credit limit on the winning used car, please inform IBID Customer Service at cs.ibid@ibid.astra.co.id.
Once you’ve confirmed, you’ll get Auction Winner Confirmation (KPL) along with the installment scheme. It’s so easy, right? You can enjoy this convenience only at IBID.Why Use IBID?
Balai Serasi Lelang, or IBID, is an auction house providing automotive and non-automotive items, such as cars, motorbikes, gadgets, and other heavy equipment, respectively.
The company was founded in 2007 and is a subsidiary of PT Serasi Autoraya (SERA), which is an Astra Group company. IBID opens its auctions to everyone, allowing both companies and individuals to make large-scale and single-item purchases.
IBID holds auctions weekly at its 10 branches across Indonesia. Moreover, IBID has hosted auctions in over 30 cities across Indonesia.
Want to Know More About IBID?
Download the IBID app on the Google Play Store and Apple App Store or visit https://www.ibid.astra.co.id. Also, follow its Instagram account: @ibid_balailelangserasi. Facebook: IBID - Balai Lelang Serasi TikTok: @ibid_balailelangserasi. YouTube: IBID - Balai Lelang Serasi and X (Twitter): @ibid_lelang.