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BIB Finance

Ask BIB for Private Car Finance

We are impartial, thorough, and professional when it comes to all the types of financing we offer. We have various financing options, which include private car finance and financing for motorbikes, boats, and caravans.  2019-05-21

Looking For Private Car Finance? BIB Finance Can Help!

There is a difference between getting finance to purchase a vehicle from a dealership and purchasing a vehicle from a private individual. It can be difficult to secure finance for a private car purchase. As a result, people may be forced to take out personal loans from a financial-services provider or bank. Personal loans are usually expensive and structured differently to vehicle financing. Personal loans’ interest rates are higher and they might not be as flexible as vehicle financing when it comes to repayment terms and the amount of time given to repay the loan. This is where private car finance is extremely helpful. 

Private car finance is a relatively new type of financing. It is aimed specifically at individuals purchasing vehicles from other individuals, not dealerships. Whereas a dealership will usually have agreements with various vehicle finance providers, a private person selling a vehicle will not, and it is up to the buyer to ensure that they get private car finance that they can afford and repay within the required time period. BIB Finance provides private car finance for individuals who need to purchase a vehicle privately. We assist both the seller and the buyer in this transaction, and these private financing deals cater for the private market and not vehicles purchased from the showroom floors of motor dealerships. When you apply for private car finance through us, we assist you throughout the purchasing process and provide financial protection to both the buyer and the seller. We are always on hand to answer queries about our private car finance, and explain exactly how the transaction is structured. 

We deal with financial-services providers regarding the loan, the repayment of outstanding monies on the vehicle by the seller, and the application of a new loan for the buyer. In order to ensure that everything is in accordance with the NCA and applicable legislation, we do all the checks on the vehicle, such as checking the VIN and engine numbers against the national vehicle database. We then carry out all the relevant licensing applications and re-registration on behalf of the purchaser. We also provide a guarantee that the payment for the vehicle is made to the seller on behalf of the buyer.

We are impartial, thorough, and professional when it comes to all the types of financing we offer. We have various financing options, which include private car finance and financing for motorbikes, boats, and caravans. Our deals are structured to be affordable and we do our best to keep interest rates low. We can structure individual financing deals to suit the needs and affordability profile of the client and we pride ourselves on our transparency and integrity. With us, you will always know exactly what you are paying, how much your interest is, and what you end up paying for the vehicle in total. Just keep in mind that we cannot provide you with financing if you have been blacklisted.

For more information about our private car finance, give our professional and friendly team at BIB Finance a call today.