Getting your dream car without paying in full upfront is now easier through a car loan takeover. By taking over the remaining installments from the previous owner, you can buy a used car faster without applying for a new loan.
Curious about how the car loan takeover process works and what benefits you can gain? Find out everything in this article.
What Is a Car Loan Takeover?
A car loan takeover means purchasing a car by assuming the remaining loan payments from the previous owner. This usually happens when the original owner struggles to make payments or wants to switch cars.
For buyers, a loan takeover can be an attractive option since the price is often lower than the market rate. However, this process must be done carefully, including making a written agreement to ensure a clear and safe deal for both parties.
Requirements for a Car Loan Takeover
Before deciding to proceed with a car loan takeover, make sure you understand the necessary requirements. The commonly required documents include:
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ID card (KTP) as proof of identity
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Family card (KK) for status and address verification
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Original payslip or employment certificate as proof of income
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Bank statement or savings account record for the last three months to assess financial capability
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Vehicle Ownership Book (BPKB) as proof that the car legally belongs to the previous owner
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Car purchase invoice as proof of vehicle origin
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Utility bills (electricity, property tax, or phone bills) as proof of residence and regular payment record
How to Safely Take Over a Car Loan
Before starting the process, here are some key steps to ensure a safe and smooth car loan takeover:
1. Review Remaining Loan Installments
First, check how many installments are left. Ask for a detailed breakdown of payments from the leasing company or the previous owner to make sure there are no outstanding arrears.
This helps you plan your takeover properly and minimize potential future payment issues.
2. Inspect the Car’s Condition
Thoroughly check the car’s exterior, interior, and engine. Make sure all documents are complete, including the vehicle registration (STNK) and BPKB, which are usually still held by the leasing company. Request copies for your records.
3. Calculate the Car Loan Takeover Value
Calculating the total takeover value isn’t difficult. Simply add up the remaining loan balance, the initial down payment (if agreed upon), and administrative or name transfer fees.
For example:
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Remaining installments: Rp60,000,000
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Down payment: Rp20,000,000
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Administrative fee: Rp2,000,000
Total takeover cost: Rp82,000,000
Disclaimer: This calculation is an estimate. The actual amount may vary depending on each financing company’s policy.
4. Confirm with the Leasing Company
Contact the leasing company to inform them of your intention to take over the car loan. Make sure they allow official loan takeovers, as not all companies do.
If permitted, you’ll usually be asked to complete an application form, submit documents like your ID card, payslip, and tax number (NPWP), and undergo a credit check (BI Checking).
5. Draft a Notarized Agreement
Even if the leasing company hasn’t granted formal approval yet, you can still make a written agreement between the buyer and seller in front of a notary.
This serves as a legal document confirming both parties agree on the takeover — including the price, loan period, and respective responsibilities.
Note: This notarial agreement is legally valid under civil law but does not automatically make the buyer an official debtor in the eyes of the leasing company until official approval is granted.
6. Pay Administrative Fees
Most leasing companies charge an administrative fee for the loan takeover process. The amount typically ranges from Rp1,000,000 to Rp3,000,000, depending on company policy.
7. Continue the Installments and Secure All Documents
Once everything is approved, you, as the buyer, will continue the installment payments according to the remaining term and amount. Keep all important documents safe, including the agreement letter, copies of the vehicle registration, and confirmation from the leasing company.
Advantages of a Car Loan Takeover
Before deciding to buy a car through a loan takeover, it’s important to understand the potential benefits. Here are some key advantages:
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Access to relatively new cars – Takeover cars are often still in good condition, both in terms of performance and maintenance.
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Lower price than market value – Sellers often offer a lower price for quick transactions.
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Shorter loan term – You only continue the remaining installments, saving both time and cost.
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Lower insurance premium – Newer cars tend to have lower damage risks, resulting in cheaper insurance.
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Valid manufacturer warranty – Many takeover cars are still under warranty, providing free repairs or replacements.
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Simpler process – The buying process is faster since you’re taking over an existing loan, though official takeovers still require verification through the leasing company.
Disadvantages of a Car Loan Takeover
Just like any car purchase option, loan takeovers also come with risks. Some common drawbacks include:
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Late payment history from the previous owner – Unpaid installments may cause problems later.
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Car condition not meeting expectations – Possible issues include engine damage, high mileage, or irregular maintenance.
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Legal complications – If the transaction is not officially recorded by the leasing company, you may not be recognized as the legal owner.
By understanding all these aspects, you can plan your car purchase more wisely and securely.
Beyond vehicle needs, there are times when urgent financial matters arise, such as home renovation or medical expenses.
In such cases, BFI Finance can be your solution to access the funds you need. Through financing services backed by Car BPKB, Motorcycle BPKB, or Property Certificates, you can obtain funds quickly with competitive interest rates and flexible terms.
With over 40 years of experience and official supervision by the OJK (Financial Services Authority), BFI Finance ensures every transaction is safe and trustworthy.
With this support, you can continue achieving your financial goals in a structured and secure way — because #SelaluAdaJalan with BFI Finance.
