Market Size of Indonesia Used Car Financing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 39.99 Billion |
| Market Size (2029) | USD 53.02 Billion |
| CAGR (2024 - 2029) | 5.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Used Car Financing Market Analysis
The Indonesia Used Car Financing Market size is estimated at USD 39.99 billion in 2024, and is expected to reach USD 53.02 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).
Over the long term, as digital technologies continue to transform the automotive industry, the used car market in Indonesia is poised for remarkable expansion. With the advent of innovative tools and platforms for creating compelling remote buying experiences, Indonesian consumers can now explore a vast range of pre-owned vehicles online from the comfort of their homes. This shift toward digitization is expected to drive significant growth in the used car market, offering consumers greater convenience, choice, and value.
The used car market in the country is expected to grow due to increased value-added services and the availability of finance providers offering credit for used cars. However, the growth may be affected by higher interest rates, which could discourage potential customers from making purchases.
The market growth is being significantly boosted by the emergence of multiple non-banking finance companies that provide customers with low-interest rate options compared to traditional banks. In addition, these companies offer more flexible installment options, making it easier for consumers to manage their finances and fulfill their obligations.
