인도네시아의 중고차 금융 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the indonesian used car financing market size is projected to expand from USD 8.15 billion in 2025, USD 8.72 billion in 2026, to USD 12.22 billion by 2031, registering a 6.99% CAGR from 2026 to 2031.

This report is Segmented by Vehicle Type (Hatchback, Sedan, and More), Financing Provider (Captive OEM Finance, Commercial Banks, and More), Financing Tenor (<=24 Months, 25-48 Months, and More), Vehicle Age (<=3 Years Old, 4-7 Years Old, and More), and Province (Jakarta, West Java, and More). The Market Forecasts are Provided in Terms of Value (USD).

Indonesia Used Car Financing Market Trends and Insights

Robust Demand Shift from New- to Used-Cars Amid High Interest Rates

Used-car sales hit 1.8 million units in 2024 versus 889,680 new-car registrations, reflecting cost-driven substitution as nominal wage growth lags vehicle inflation . In September 2024, Bank Indonesia held its policy rate steady. As a result, many families faced auto-loan coupons that remained high. This scenario has amplified the affordability edge of three-year-old multi-purpose vehicles (MPVs), with their monthly installments being significantly lower than their brand-new counterparts. Responding swiftly, multifinance companies adjusted their portfolios. Notably, BFI Finance experienced a notable rise in showroom-linked receivables in 2024, underscoring a strong demand in organized retail channels. To counteract the effects of diminished purchasing power and sustain loan origination flows, lenders have begun extending loan tenors beyond the typical duration, showing an annual increase. However, this strategy does come with an extended credit-risk exposure. Overall, these dynamics underscore that affordability challenges are the primary drivers steering flows into Indonesia's used car financing market.

Expansion of Multi-Finance and Bank Loan Portfolios into Used-Cars

By June 2024, total motor-vehicle disbursements saw significant growth as lenders shifted focus to higher-yield pre-owned segments, responding to a dip in new-car demand. Adira Finance's merger with Mandala Multifinance in October 2025 birthed a platform with a substantial user base and extensive service points, significantly broadening its geographic footprint. In a similar vein, BCA Finance, in September 2024, streamlined its used-car specialist arm, harmonizing risk systems and slashing loan processing costs. While used-car financing commands wider spreads due to heightened asset risk perceptions, this is balanced by swift repeat purchases, with owners upgrading to newer models every three to four years. As a result, the Indonesian used car financing market continues to attract robust institutional capital, even as lenders implement stricter valuation measures to mitigate default risks.

Persistent Trust and Odometer Fraud Issues

Industry surveys reveal mileage manipulation in roughly one quarter of traded units, inflating residual values and saddling both borrowers and lenders with unexpected repair bills that erode collateral cover. The absence of a nationwide vehicle-history ledger forces lenders to rely on manual inspections that extend approval times and increase operating expenditure. While POJK 46/2024 mandates stronger appraisal standards and borrower verification, uneven regional enforcement allows informal dealers to bypass scrutiny, perpetuating credibility gaps. Blockchain registries piloted by selected multifinance firms aim to stamp immutable service records yet require cross-ministerial data sharing. Until coverage becomes universal, trust deficits will curb first-time penetration and temper Indonesia used car financing market.

Other drivers and restraints analyzed in the detailed report include:

1. Digital Marketplaces Embedding Instant Loan Approvals
2. Growth of Sharia-Compliant Auto Finance Products
3. Elevated Lending Rates and Macro-Volatility

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Multi-purpose vehicles held 44.15% of 2025 financing originations, underscoring their suitability for extended families that dominate Indonesian demographics. Compact SUVs are outpacing all other categories at an 8.45% CAGR as aspirational middle-class buyers gravitate toward higher ground clearance and premium perception, often paying resale premiums above same-age sedans. Lenders typically extend up to 80% loan-to-value on three-year-old MPVs or SUVs because of strong liquidity and predictable collateral curves, ensuring that the Indonesia used car financing market size tied to these segments remains robust through the forecast window.

Sedans and hatchbacks account for a dwindling slice as OEMs phase out low-margin small cars. Ride-hailing fleets still sustain sedan demand, but private owners pivot to crossover designs with more perceived status and safer cabin structure. Loan products now differentiate tenor ceilings: SUVs can qualify for 72-month terms, whereas older hatchbacks often cap at 48 months due to steeper depreciation. These underwriting nuances reinforce segmental divergence within the Indonesian used car financing market.

Due to low-cost deposits and the ability to cross-sell, commercial banks secured a commanding 70.25% share of the 2025 origination, solidifying their dominance in Indonesia's used car financing market. Yet peer-to-peer and fintech platforms are growing at 9.75% CAGR by offering real-time decisions and alternative credit analytics that onboard applicants sidelined by legacy scorecards. Non-bank multifinance firms sit between these poles, blending deep vehicle knowledge with moderate digital enablement, although their funding spreads face a squeeze from both ends.

Partnership models are proliferating: BCA Finance's app now embeds inside leading marketplaces, closing the convenience gap with pure fintechs while preserving deposit-funded pricing. Regulation 40/2024 obliges peer-to-peer lenders to maintain a minimum composite rating of 3 and equity equivalent to 50% of paid-up capital, which raises thresholds and triggers consolidation. Joint ventures between digital lenders and mid-tier banks, therefore, become a critical route to scale inside the Indonesian used car financing market.

Complete Report Scope:

• By Vehicle Type
  • Hatchback
  • Sedan
  • Sport Utility Vehicle (SUV)
  • Multi-Purpose Vehicle (MPV)
• By Financing Provider
  • Captive OEM Finance
  • Commercial Banks
  • Non-Bank Finance Companies
  • Peer-to-Peer / Fintech Lenders
• By Financing Tenor
  • Less than/Equals 24 Months
  • 25 - 48 Months
  • 49 - 72 Months
  • Above 72 Months
• By Vehicle Age
  • Less than/Equals 3 Years Old
  • 4 -7 Years Old
  • Above 7 Years Old
• By Province
  • Jakarta
  • West Java
  • East Java
  • Central Java
  • Banten
  • North Sumatra
  • Other Provinces

List of Companies Covered in this Report:

1. Astra Credit Companies (ACC)
2. BFI Finance Indonesia
3. Adira Dinamika Multi Finance
4. Oto Multiartha
5. Mandiri Tunas Finance
6. PT Toyota Astra Financial Services
7. Suzuki Finance Indonesia
8. PT JACCS MPM Finance Indonesia
9. BCA Finance
10. Bussan Auto Finance
11. Dipo Star Finance
12. Batavia Prosperindo Finance
13. BRI Multifinance Indonesia
14. Clipan Finance Indonesia
15. BNI Multifinance
16. CIMB Niaga Auto Finance
17. Bank Syariah Indonesia - OTO Finance

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Robust Demand Shift from New- to Used-Cars Amid High Interest Rates
  • 4.2.2 Expansion of Multi-Finance and Bank Loan Portfolios into Used-Cars
  • 4.2.3 Digital Marketplaces Embedding Instant Loan Approvals
  • 4.2.4 Growth of Sharia-Compliant Auto Finance Products
  • 4.2.5 Buy-Now-Pay-Later Down-Payment Solutions
  • 4.2.6 Second-Hand Hybrid and EV Incentives Creating Niche Demand
• 4.3 Market Restraints
  • 4.3.1 Persistent Trust and Odometer Fraud Issues
  • 4.3.2 Elevated Lending Rates and Macro-Volatility
  • 4.3.3 Rise in Collateral Fraud and Stolen-Vehicle Risk
  • 4.3.4 Stricter OJK Caps on Fintech Lending Fees
• 4.4 Value / Supply-Chain Analysis
• 4.5 Regulatory and Economic Impact Analysis
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Bargaining Power of Suppliers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intensity of Rivalry

5 Market Size and Growth Forecasts (Value, USD)

• 5.1 By Vehicle Type
  • 5.1.1 Hatchback
  • 5.1.2 Sedan
  • 5.1.3 Sport Utility Vehicle (SUV)
  • 5.1.4 Multi-Purpose Vehicle (MPV)
• 5.2 By Financing Provider
  • 5.2.1 Captive OEM Finance
  • 5.2.2 Commercial Banks
  • 5.2.3 Non-Bank Finance Companies
  • 5.2.4 Peer-to-Peer / Fintech Lenders
• 5.3 By Financing Tenor
  • 5.3.1 Less than/Equals 24 Months
  • 5.3.2 25 - 48 Months
  • 5.3.3 49 - 72 Months
  • 5.3.4 Above 72 Months
• 5.4 By Vehicle Age
  • 5.4.1 Less than/Equals 3 Years Old
  • 5.4.2 4 -7 Years Old
  • 5.4.3 Above 7 Years Old
• 5.5 By Province
  • 5.5.1 Jakarta
  • 5.5.2 West Java
  • 5.5.3 East Java
  • 5.5.4 Central Java
  • 5.5.5 Banten
  • 5.5.6 North Sumatra
  • 5.5.7 Other Provinces

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (Includes Global Level Overview, Market Level Overview, Core Segments, Financials as Available, Strategic Information, Market Rank/Share for Key Companies, Products and Services, SWOT Analysis, and Recent Developments)
  • 6.4.1 Astra Credit Companies (ACC)
  • 6.4.2 BFI Finance Indonesia
  • 6.4.3 Adira Dinamika Multi Finance
  • 6.4.4 Oto Multiartha
  • 6.4.5 Mandiri Tunas Finance
  • 6.4.6 PT Toyota Astra Financial Services
  • 6.4.7 Suzuki Finance Indonesia
  • 6.4.8 PT JACCS MPM Finance Indonesia
  • 6.4.9 BCA Finance
  • 6.4.10 Bussan Auto Finance
  • 6.4.11 Dipo Star Finance
  • 6.4.12 Batavia Prosperindo Finance
  • 6.4.13 BRI Multifinance Indonesia
  • 6.4.14 Clipan Finance Indonesia
  • 6.4.15 BNI Multifinance
  • 6.4.16 CIMB Niaga Auto Finance
  • 6.4.17 Bank Syariah Indonesia - OTO Finance

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-Need Assessment