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The Auto Finance Contract is a essential legal document used in Indonesia when a customer seeks financing for a vehicle purchase from a financial institution. It is designed to comply with Indonesian Financial Services Authority (OJK) regulations, particularly Regulation No. 35/POJK.05/2018 and the Indonesian Civil Code. The contract is typically used when a customer cannot or chooses not to make a full cash payment for a vehicle purchase. It includes critical elements such as financing terms, payment schedules, security arrangements through fiduciary transfer, insurance requirements, and default provisions. The document must incorporate consumer protection elements as required by Law No. 8 of 1999 and specific OJK regulations on consumer financial services. It serves as both a financing agreement and a security document, establishing the legal framework for the financing relationship while protecting the interests of all parties involved.

1. Parties: Identification of the finance company and the customer/borrower, including complete legal names, addresses, and identification numbers

2. Background: Brief context of the transaction, including the customer's intention to purchase the vehicle and seek financing

3. Definitions: Key terms used throughout the agreement, including financial terms, technical terms, and regulatory references

4. Vehicle Details: Comprehensive description of the financed vehicle, including make, model, year, chassis number, and engine number

5. Financing Terms: Core financial terms including principal amount, interest rate, term length, and total amount payable

6. Payment Terms: Details of payment schedule, installment amounts, payment methods, and due dates

7. Security and Fiduciary Transfer: Provisions regarding the fiduciary security over the vehicle and registration requirements under Indonesian law

8. Insurance Requirements: Mandatory insurance coverage requirements and terms

9. Rights and Obligations: Detailed responsibilities of both parties during the financing term

10. Default and Remedies: Events of default, consequences, and remedies including repossession rights

11. Representations and Warranties: Standard declarations by the borrower regarding their capacity and the accuracy of provided information

12. Governing Law and Dispute Resolution: Choice of Indonesian law and agreed dispute resolution mechanisms

13. Notices: Methods and addresses for official communications between parties

14. Termination: Conditions and procedures for early termination or prepayment