PT. Surya NordFinans

1. PT. Surya NordFinans
COP
Car Ownership Programme
For
Employees

2. Why a COP? (and from whom)
A COP is provided by the employer to
its employees to;
• Ensure that an employee has a vehicle
available for use at work,
• Provide financial assistance to the employee,
or
• Provide an incentive to the employee

3. COP from NordFinans
• Surya NordFinans COP for employees is a
programme between NordFinans and the
Employer.
• The Employer sets the rules as to who can
participate and with how much.
• The Employee receives an irrevocable Option
to acquire the vehicle when payments have
been concluded.
• The vehicle is treated as if it was under lease
to the Company with all service and surround
charges included.

4. Which car can I choose?
• The employee may in agreement with his
employer, choose any four wheeled vehicle he
or she may desire. The price of the vehicle
and the lease charge is agreed between
NordFinans and the employer.

5. How long is the programme?
• NordFinans COP is for a maximum period of
Five (5) years.

6. Price
• The price is set at each time a vehicle is
ordered.
• The price is a Corporate price, thus expecting
that it will be significantly lower than any Retail
Hire Purchase arrangement.
• The Price includes all service and
maintenance and other surround charges.

7. What is included in the Price?
• Annual Road Tax
• All service and maintenance including spare
parts
• Tyres
• Insurance
– Comprehensive insurance with Third Party
Liability of IDR 100 million
• Replacement vehicle in the event of lengthy
breakdown

8. Service & Maintenance
• All scheduled service and maintenance
• All spare parts
• Periodic ‘check-up’ by staff from NordFinans’
service vehicle at the location of the vehicle

9. Tyres
• Tyres changed on the basis of manufacturer’s
recommendations
• Brand and quality in accordance with
manufacturer’s specification

10. Insurance
• Comprehensive vehicle insurance with
extended cover;
– Third Party Liability: IDR 100 million
– SRCC (Strike, Riot and Civil Commotion)
– ‘Act of God’ (flooding, earthquake etc)
– Driver theft (Deductible of 7.5% of vehicle
value)

11. Road Tax
• Road Tax is paid, on time, directly from
NordFinans
• No input is required by the user

12. Replacement Car
• In the event of lengthy break-down (generally
24 hours) a replacement vehicle is provided
from NordFinans
• The replacement vehicle is generally of a
similar type as the leased vehicle

13. Is it really my car?
• The car under the COP is leased from
NordFinans. NordFinans owns the car until
fully paid.
• The employer / employee has an Option on
purchasing the car. This option can be
exercised at the end of the lease period (5
years) at the price of IDR 1,000.-.

14. Can I opt out?
• Should the employee wish to buy his car
(exercise his option) prior to the end of five
years, the Option has a set value attached to
it, for each car. This price is more often than
not significantly lower than the market price.
• The option can be exercised at any time after
12 months.

15. Can I get a better car?
• The employer decides the VALUE of the
vehicle which an employee may acquire a car.
• Should the employee wish to acquire a more
expensive vehicle, the employee may deposit
the difference between what the employer is
prepared to guarantee and the price of the
chosen vehicle with NordFinans.

16. What if I leave my job?
• If you leave your employment you may
exercise the Option to purchase the vehicle.
• Should you decide that you do not wish to use
the option, the vehicle is returned to
NordFinans.

17. What if I get promoted
An employee who gets promoted and
thereby get a right to a higher
allowance under the COP may either;
• exercise the option and purchase the car (and
sell it himself into the open market), or,
• Return the vehicle to NordFinans and get a
new vehicle which comensurates with his
higher allowance

18. THANK YOU