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Financing Cars In SA: How to

BIB Finance is your solution to securing loans if you want to finance cars in South Africa. We work with the major FSPs to give you competitive terms and interest rates. 

2019-09-25

How to Finance Cars in South Africa

 

For many people living in South Africa, a personal daily driver is their only practical way of commuting. However, prices of new and used cars are often unaffordable without the assistance of a financial-services provider (FSP). Buying a vehicle requires that you consider a plethora of determining factors before you can decide which vehicle is best for you. If you are living the single life, you only need a vehicle that can cater to your needs. If you have a family, your vehicle should be larger for transporting your family. However, the biggest decider is how much money it costs and how much you can afford to spend on it.

 

Some people consider only the second-hand market, as it offers more affordable options. However, used cars are just not the same as brand-new cars, are they? With our solutions, we can assist in securing a loan for your purchase before you go shopping for a vehicle. Maybe you can afford that new car after all! Financing cars is our speciality, as we work in close relation with the major FSPs in South Africa to get you top rates and finance options.

 

Finance Cars the Right Way

 

The first step of any purchase is to determine whether you can afford it. A working-class citizen in South Africa cannot afford an exotic supercar. The monthly repayments on the loan, together with the high insurance payments, will simply be too much. Therefore, normal people buy something more affordable and within their price range. Getting approval on a finance loan will be determined by your current income, your credit score, and other financial considerations. We can assist in securing the best possible options for you beforehand.

 

Now that your financing is sorted, all that remains is finding the ideal model that will cater to your needs amongst all those cars. By securing the loan before you walk into a dealership, you know how much you can afford. This eases the process of buying cars, as you don’t have any worries about the price. You already know in which bracket to shop, which gives you the freedom to find the ideal vehicle. Whether it is a daily driver or a leisure expense, we can help you secure a loan for it.

 

Sometimes, life happens and takes us on an unexpected journey. Vehicle accidents, excess payments, and parts failures can lead to your expenses spiralling out of control. Perhaps you face unexpected medical expenses. Either way, these things cause you to come up short at the end of the month. In such a case, we can refinance your car, usefully extending the loan period and lowering the monthly instalments to give you some breathing room in your budget. In this way, you can stay afloat and still afford your monthly repayments while you weather your financial storm.

 

BIB Finance is your solution to securing loans if you want to finance cars in South Africa. We work with the major FSPs to give you competitive terms and interest rates. For more information on how we can assist you, please browse our website for details. Choose us today and benefit from our solutions when buying a vehicle.