New Trends in Multifinance: Electric Vehicle Financing Surges, Used Cars in High Demand
“New Trends in Multifinance: Electric Vehicle Financing Surges, Used Cars in High Demand”
Jakarta, CNBC Indonesia — The financing industry is beginning to note a shift in trend at the start of 2026. On one hand, financing for electric vehicles surged sharply, while on the other hand, generally financing for used cars grew faster than for new cars.
The Financial Services Authority (OJK) notes that financing of electric vehicles by the multifinance industry in January 2026 reached Rp21.05 trillion, or 39.13% year-on-year. This growth aligns with rising sales of electric vehicles and the electrification trend of vehicles in Indonesia.
Agusman, Executive Head of the Supervisory Board of Financing Institutions, Venture Capital Firms, Microfinance Institutions, and Other Financial Services Institutions, assessed that financing for electric vehicles still has positive growth prospects throughout this year, driven by increasing public interest in energy-based vehicles and the developing electric vehicle ecosystem.
On the other hand, the trend in four-wheeled vehicle financing shows a different pattern. In the period 2022-2025, the receivables for four-wheeled vehicle financing grew by an average of 6.80% year-on-year. However, the used-car segment recorded higher growth, around 12.75% year-on-year.
As of January 2026, total disbursement of four-wheeled vehicle financing by the multifinance industry stood at Rp229.43 trillion.
“The phenomenon of stronger growth in used vehicles reflects, among other things, the public’s preference for more affordable prices and financing flexibility,” said Agusman.
Meanwhile, total multifinance receivables as of January 2026 reached Rp508.27 trillion, up 0.78% year-on-year. The January growth this year was notably slower than in January 2025.
OJK also targets multifinance receivables to grow 6%-8% year-on-year. The figure is considered realistic given industry targets and economic conditions. “To achieve this, companies need to optimise the potential of prospect sectors and regions while maintaining asset quality and risk management,” said Agusman.