Approaches to Dealing with Late Payment

Oct 13, 2025 by miodeya.com 62 views

Introduction

The COVID-19 pandemic has brought about unprecedented challenges to the Indonesian economy, including in the motor vehicle leasing sector. The pandemic, declared a national disaster through Presidential Decree No. 12 of 2020, has had a significant impact on the growth of the national economy. Many customers have struggled to fulfill their payment obligations according to the agreement agreed upon, leading to a crisis in the motor vehicle leasing sector.

In response to this situation, the Financial Services Authority (OJK) released OJK Regulation Number 14/POJK.05/2020, which aims to provide solutions to the challenges faced by financial services institutions, especially in the field of leasing. This policy encourages financing restructuring to help customers affected by the pandemic. This research examines in depth the leasing agreement conducted by PT. Summit Oto Finance Medan and analyzes how the COVID-19 pandemic influences the implementation of the agreement.

Research Methods

To achieve the research objectives, the authors use a descriptive analysis approach with the normative juridical legal research method. This study includes two stages, namely library research (library research) and field research. Field research was conducted at PT. Summit Oto Finance Medan through interviews with related parties, such as the Administration Head and Credit Marketing Officer division. The data collected will provide a deeper insight regarding the impact of the pandemic on the implementation of the leasing agreement.

The Impact of Pandemi Covid-19 on Motor Vehicle Leasing

The COVID-19 pandemic has had a significant impact on the motor vehicle leasing sector in Indonesia. Many customers have struggled to fulfill their payment obligations according to the agreement agreed upon, leading to a crisis in the sector. The pandemic has resulted in financial difficulties for many consumers, which has had an impact on their ability to fulfill payment obligations.

The Role of PT. Summit Oto Finance Medan in Mitigating the Impact of the Pandemic

PT. Summit Oto Finance Medan has taken proactive steps to mitigate the impact of the pandemic on the motor vehicle leasing sector. The company has restructured financing in 270 contracts, providing solutions in the form of an extension of the agreement period, postponement of installment payments, and reducing basic arrears. This step shows the proactive response of the company to help affected consumers, while maintaining the company's financial stability.

Approaches to Dealing with Late Payment

In dealing with the problem of late payment, the company can solve this problem through two approaches: negotiations and litigation. Negotiation is a more flexible choice and can maintain good relations between companies and consumers, while litigation can be taken if the negotiation efforts do not produce results.

The Importance of Adaptation and Innovation in the Motor Vehicle Leasing Sector

It is essential for finance companies to continue to adapt and innovate in creating appropriate solutions to face the challenges that exist. With the right approach, it is expected that the relationship between the company and consumers is maintained even in challenging situations.

Conclusion

From the results of this study, it appears that the COVID-19 pandemic has influenced the implementation of the leasing agreement at PT. Summit Oto Finance Medan. Financing carried out through restructuring is a strategic step to face the challenges that exist. It is essential for finance companies to continue to adapt and innovate in creating appropriate solutions, so that both companies and consumers can get through this difficult time better.

Recommendations

Based on the findings of this study, the following recommendations are made:

Finance companies should continue to adapt and innovate in creating appropriate solutions to face the challenges that exist.
The government should provide support to finance companies in restructuring financing and providing solutions to affected consumers.
Consumers should be aware of their rights and obligations under the leasing agreement and seek assistance from the company if they are facing financial difficulties.

Limitations of the Study

This study has several limitations, including:

The study only examines the impact of the COVID-19 pandemic on the motor vehicle leasing sector in Indonesia and does not generalize the findings to other countries.
The study only examines the leasing agreement conducted by PT. Summit Oto Finance Medan and does not generalize the findings to other finance companies.

Future Research Directions

Future research should focus on the following areas:

The impact of the COVID-19 pandemic on other sectors of the Indonesian economy.
The effectiveness of financing restructuring in helping affected consumers.
The role of the government in supporting finance companies in restructuring financing and providing solutions to affected consumers.

References

OJK Regulation Number 14/POJK.05/2020.
Presidential Decree No. 12 of 2020.
Interviews with related parties at PT. Summit Oto Finance Medan.

Appendix

List of interviewees.
Leasing agreement conducted by PT. Summit Oto Finance Medan.
Data collected from field research.

Q: What is the impact of Pandemi Covid-19 on motor vehicle leasing in Indonesia?

A: The COVID-19 pandemic has had a significant impact on the motor vehicle leasing sector in Indonesia, resulting in financial difficulties for many consumers and a crisis in the sector.

Q: How has PT. Summit Oto Finance Medan responded to the impact of the pandemic?

A: PT. Summit Oto Finance Medan has taken proactive steps to mitigate the impact of the pandemic on the motor vehicle leasing sector. The company has restructured financing in 270 contracts, providing solutions in the form of an extension of the agreement period, postponement of installment payments, and reducing basic arrears.

Q: What are the two approaches to dealing with late payment in motor vehicle leasing?

A: The two approaches to dealing with late payment in motor vehicle leasing are negotiations and litigation. Negotiation is a more flexible choice and can maintain good relations between companies and consumers, while litigation can be taken if the negotiation efforts do not produce results.

Q: Why is it essential for finance companies to adapt and innovate in creating appropriate solutions to face the challenges that exist?

A: It is essential for finance companies to continue to adapt and innovate in creating appropriate solutions to face the challenges that exist because it will help to maintain good relations between companies and consumers, even in challenging situations.

Q: What are the recommendations for finance companies, the government, and consumers based on the findings of this study?

A: The recommendations are as follows:

Finance companies should continue to adapt and innovate in creating appropriate solutions to face the challenges that exist.
The government should provide support to finance companies in restructuring financing and providing solutions to affected consumers.
Consumers should be aware of their rights and obligations under the leasing agreement and seek assistance from the company if they are facing financial difficulties.

Q: What are the limitations of this study?

A: The study has several limitations, including:

The study only examines the impact of the COVID-19 pandemic on the motor vehicle leasing sector in Indonesia and does not generalize the findings to other countries.
The study only examines the leasing agreement conducted by PT. Summit Oto Finance Medan and does not generalize the findings to other finance companies.

Q: What are the future research directions based on the findings of this study?

A: The future research directions are as follows:

The impact of the COVID-19 pandemic on other sectors of the Indonesian economy.
The effectiveness of financing restructuring in helping affected consumers.
The role of the government in supporting finance companies in restructuring financing and providing solutions to affected consumers.

Q: What are the references used in this study?

A: The references used in this study are:

OJK Regulation Number 14/POJK.05/2020.
Presidential Decree No. 12 of 2020.
Interviews with related parties at PT. Summit Oto Finance Medan.

Q: What is the appendix of this study?

A: The appendix of this study includes:

List of interviewees.
Leasing agreement conducted by PT. Summit Oto Finance Medan.
Data collected from field research.

Q: What is the conclusion of this study?

A: The conclusion of this study is that the COVID-19 pandemic has influenced the implementation of the leasing agreement at PT. Summit Oto Finance Medan. Financing carried out through restructuring is a strategic step to face the challenges that exist. It is essential for finance companies to continue to adapt and innovate in creating appropriate solutions, so that both companies and consumers can get through this difficult time better.