Analysis of Mitsubishi Vehicle Payment Methods Using Cash, Cash Top, and Credit and Their Effect on Liquidity at PT. XYZ During the 2021–2025 Period
Abstract
This study aims to analyze the effect of Mitsubishi vehicle payment methods consisting of Cash, Cash Top, and Credit on the liquidity of PT. XYZ during the 2021–2025 period. A quantitative approach with descriptive and associative methods was employed. Secondary data comprising monthly sales unit data by payment method and monthly financial statements from January 2021 to December 2025 were collected, yielding 60 monthly observations. Company liquidity was measured using the Current Ratio (CR) indicator. Data analysis involved descriptive statistics, the Shapiro-Wilk normality test, logarithmic transformation, multiple linear regression, t-test, F-test, and the coefficient of determination (R²). The results indicate that Credit was the most dominant payment method with an average of 445.47 units/month (57.0%), followed by Cash Top with 169.68 units/month (26.5%), and Cash with 149.15 units/month (16.5%). The mean Current Ratio of PT. XYZ during the observation period was 0.875 (below the ideal benchmark of 1.0 times), ranging between 0.436 and 1.088. Partial testing (t-test) revealed that Cash had no significant effect on the Current Ratio (p = 0.451). Conversely, Cash Top showed a positive and statistically significant effect on the Current Ratio (p = 0.008). Meanwhile, Credit had no significant partial effect on the Current Ratio (p = 0.910). Simultaneous testing (F-test) produced a significance value of 0.048 (p < 0.05), demonstrating that Cash, Cash Top, and Credit simultaneously exert a significant effect on the Current Ratio. The Adjusted R² of 0.130 indicates that these three payment methods collectively explain 13.0% of the variance in company liquidity, with the remaining 87.0% influenced by external factors outside the model. Practical implications highlight the need for optimizing Cash Top receivable collection and managing working capital effectively.
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