OJK Promotes Financial Literacy as Vehicle Financing Increases

Photo: Antara

JAKARTA - The Financial Services Authority (OJK) considers that there is still a need for increased financial literacy so that the financial decisions made by consumers do not pose risks when taking out loans to own their dream vehicles.

OJK together with the financing company PT Toyota Astra Financial Services (TAF), presents financial education entitled "Financial Literacy and Inclusion: Smart Financial Management, Free from Worry in the Future" at the Gaikindo Indonesia International Auto Show (GIIAS) 2026.

"For TAF, financial literacy is the foundation of healthy financing. Customers who understand the products and their financial conditions in full will make better decisions. And in the end, it creates a more sustainable portfolio quality for the industry," said TAF Director Ezar Kumendong at ICE BSD, quoted by Antara, Saturday, August 8.

The education took place amid the growth of the national automotive industry. Data from the Indonesian Motor Vehicle Industry Association (Gaikindo), showed that domestic car sales throughout the first half of 2026 reached 436,564 units or increased by 15.9 percent compared to the same period last year.

In line with this, the financing industry also recorded a positive trend. Based on OJK data, financing receivables in June 2026 reached IDR 511.26 trillion or grew 1.88 percent year-on-year.

This condition shows that the demand for financing remains maintained in the midst of the recovery of the vehicle market.

The results of the 2025 National Survey on Financial Literacy and Inclusion (SNLIK) recorded Indonesia's financial literacy index only reached 66.46 percent, while the financial inclusion index has been at the level of 80.51 percent.

The difference between the two figures shows that there are still many people who have used financial services, but have not fully understood the benefits and risks.

To narrow the gap, OJK continues to carry out the National Smart Finance Movement (GENCARKAN).

Throughout 2025, the program has reached approximately 4.56 million participants through 37,203 educational activities and has been supported by more than 21 thousand digital content with a total of 306.7 million visits.

The program is part of the target for increasing the national financial inclusion index to 98 percent by 2045.

On that occasion, OJK also reminded the public to be aware of consumer behavior triggered by social media trends, such as fear of missing out (FOMO), fear of other people's opinions (FOPO), you only live once (YOLO), and spending.

This behavior, it is considered, can interfere with financial health if it is not balanced with good spending planning.

In addition, participants received education on various forms of digital financial crimes, ranging from illegal online loans, illegal investments, investment-based fraud, fake masking SMS, impersonation, to social engineering.

OJK urges the public to apply the "2L" principle, namely ensuring that financial products are legal and logical, before deciding to use financial services or invest.

"Legal, which means ensuring that financial companies or products have permits from the competent authorities. Logically, it means not easily believing in promises of too large or risk-free profits," said the Directorate of Financial Literacy and Education of the Financial Services Authority, Enriche Putera Hutama, at the same location.

The collaboration between OJK and TAF at GIIAS 2026 is one of the efforts to expand financial education to the public, in line with the increasing use of vehicle financing services in Indonesia.