Used Car Financing Shows Resilience Amid Market Challenges

Growth Trends in Vehicle Financing

The used car financing segment demonstrated resilience with 0.42% year-on-year growth by November 2025, according to the Financial Services Authority (OJK). In contrast, new car financing experienced a 4.65% contraction during the same period. Astra Credit Companies (ACC), a major player in the multifinance industry, is capitalizing on this trend by focusing on quality used vehicles.

Market Dynamics and Consumer Behavior

EVP Corporate Communication ACC, Riadi Prasodjo, highlighted that the divergence between new and used car financing trends is influenced by dynamic market factors, including shifting consumer behavior and supply conditions in the automotive industry. Despite the growth in used car financing, ACC maintains that new car financing remains the dominant segment in their portfolio.

Industry Challenges and Strategic Responses

The primary challenges in new car financing stem from intensifying market competition, incomplete economic recovery, and weakened consumer purchasing power. In response, ACC is strengthening partnerships with automotive partners and optimizing service quality to maintain business balance. The OJK reported that used car financing reached Rp87.46 trillion by November 2025, while new car financing stood at Rp142.59 trillion.

Future Outlook

The OJK forecasts that used car financing will be relatively more resilient in 2026, while new car financing is expected to recover with adjusted financing strategies, regulatory support, and product innovation in the multifinance industry. Agusman, OJK's Head of Executive Supervisor for Financing Institutions, emphasized the role of strategic adjustments and regulatory packages in supporting industry growth.