This is why Indonesians are reluctant to buy used electric cars

Jakarta – Amid the proliferation of new electric-vehicle brands, the market for used electric cars in Indonesia remains small, with transactions extremely limited. Quoting detikOto, OLXmobbi director Agung Iskandar said that electric cars account for only 1% of all used vehicle transactions on the platform, with the Wuling Air EV as the biggest contributor. According to Agung, used electric cars cannot be bought on credit or instalment plans because no financing company is willing to accommodate such purchases. ‘There is no financing company willing to finance (the purchase of used electric cars). Why? Because they fear the resale value. If the principal debt is higher than the resale value, customers would simply consider returning the car. So the concern is there,’ he said to detikOto on Saturday, 7 March 2026. He noted that around 50% of OLXmobbi’s customers buy used cars with a credit arrangement. Therefore, when vehicles cannot be bought with such schemes, potential buyers are roughly halved. ‘Interest from buyers is not very high, because if you want to buy a used electric car you must be prepared to pay cash. So no one wants to, whereas the majority of used-car buyers use credit, so half of them are out. That’s what stops people from buying used electric cars,’ he said. In addition, he cited another factor: the warranty period ends when the car changes ownership. He also highlighted the drastic drop in price for used EVs; even with price cuts, consumer interest remains low. ‘Now, with new EVs there is a strategy of “the first 2,000 units at a special price”; it’s hard, but it still affects used EV sales,’ he noted.