Used Car Financing Shows Resilience Amidst New Car Slowdown

Positive Growth in Used Car Segment

The multifinance industry recorded Rp 87.46 trillion in used car financing as of November 2025, demonstrating a 0.42% increase from the same period last year. Agusman, Head of the Executive Office for Supervision of Financing Institutions at OJK, revealed this data during a press conference on January 9, 2025. The growth indicates a positive trend in the used car financing segment despite overall economic challenges.

Contrasting Performance with New Car Financing

In contrast to the used car segment, new car financing through multifinance companies experienced a 4.65% contraction, totaling Rp 142.59 trillion. This divergence in performance between new and used car financing suggests shifting consumer preferences and potential economic influences on purchasing decisions. The OJK's data highlights the multifinance industry's nuanced response to current market conditions.

Market Implications

The contrasting trends between new and used car financing may indicate changing consumer behavior and economic pressures. The growth in used car financing could be attributed to consumers seeking more affordable options amidst economic uncertainty. Meanwhile, the decline in new car financing might reflect reduced consumer spending on larger purchases.

Regulatory Oversight

The OJK continues to monitor the multifinance industry closely, ensuring that financing practices remain stable and consumer protection is maintained. The regulator's oversight is crucial in balancing the growth of the financing industry with the need to mitigate potential risks.