Bisnis.com, JAKARTA - The trend in demand for new car loans, which is booming due to the imposition of sales tax subsidies on luxury goods (PPnBM), does not necessarily make PT Mandiri Tunas Finance (MTF) 'rodly' off financing.

Deputy Director Risk Management of PT Mandiri Tunas Finance (MTF) Johanes Barus revealed that risk mitigation before the acquisition process is the key to keeping the collection going smoothly.

"This is also to maintain the position of MTF which currently occupies the top three car financing with a market share maintained at 12.9%. In addition, risk mitigation is also carried out during financing. One of them is by reminding consumers before the maturity date," he said. to Business, Wednesday (2/6/2021).

Therefore, to ensure that risk mitigation continues to go hand in hand with the momentum of financing demand, the company's new financing target of IDR 20 trillion throughout 2021, and the potential for car sales based on the automotive association's projection of 740,764 units, MTF has launched a special program.

"As part of its efforts to achieve its annual target, MTF has launched a number of programs. Two programs have been launched, namely Millennials Credit and Smart Credit," he added.

Millennials Credit is a credit scheme that is expected to help young customers stay productive. This financing service, which is certainly aimed at millennials, offers a 5-year tenor, lighter installments in the first 3 years, and the next 2 years according to the remaining obligations.

"For millennial customers who want to enjoy this service, MTF requires a debt service ratio of 30 percent, a down payment of 20 percent and only for passenger vehicles," he said.

Meanwhile, Smart Credit is financing by pledging an old car as an additional down payment for a new vehicle that is accommodated by MTF credit. "In this program, customers are processed using our 'Cash Aja' financing program for guaranteeing old cars, then customers can take 'New Car' financing to bring home the new car they are interested in," added Johanes.

For your information, a subsidiary of PT Bank Mandiri (Persero) Tbk (51 percent) with automotive trading issuer PT Tunas Ridean Tbk. This (49 percent) previously distributed financing of IDR 16.7 trillion throughout 2020 or during the pandemic period, supported by the new car and heavy equipment segments.

Meanwhile, in the first quarter of 2021, MTF still recorded a slight decline in assets, namely 0.77 percent (year-to-date/ytd) from Rp. 18.61 trillion at the end of 2020 to Rp. 18.47 in March 2021. Meanwhile, profit for the year after MTF tax was recorded at Rp49.64 billion.