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BIB Finance

Refinance and Save

Refinance Your Vehicle and Save With BIB Finance Today

If you are looking for ways to cut back on costs, why not refinance and save with the help of BIB Finance? Vehicles are one of the biggest expenses that people pay each month.

2018-05-22

The bigger and flashier the vehicle, the higher the monthly instalments. When you initially took out a loan, you may not have had too much room to negotiate a better deal or a lower interest rate. Now that some time has passed, and you have paid off some of that capital debt, you will owe less on the vehicle. You will have proven yourself as a prompt and consistent payer. You might also be in a better financial position, which means your credit rating will have improved. If your financial situation has improved over the last 6 months, it might be time to have your vehicle financing plan looked over again. All of this means that you can successfully refinance your vehicle and benefit. Refinancing is a great way to get your monthly vehicle instalments down and negotiate a better interest rate.

When Refinancing is Not the Best Idea

Refinancing is not the best idea if your financial position has worsened over time and you need to refinance to cut back on costs. You might find yourself in a position where the new loan is denied, because your credit rating has changed, or you do not pass the affordability assessment. Just make sure that you are looking to refinance and save for the right reasons, and everything should go smoothly.

How to Refinance Your Vehicle and Save with BIB Finance

Refinancing your car is not something that you should do on a whim. Unfortunately, too many people jump into it before they consider their situation. It requires forethought and planning before you jump into a new contract (or start the process of applying for one). It is essential to seek out professional assistance and advice from experts in the field. At BIB Finance, we can help you through the entire process. The first thing that needs to be looked at is the status of your existing loan. We can take a look at the details and conditions of your loan. It is important to know the outstanding amount, settlement amount, and attached interest rate. Then we can get started. You will need to take out a loan to settle the existing one. The new loan will have a lower monthly instalment and a lower interest rate. It is important to have a good credit record at this point, as the application for the new loan will require all the details that your first loan did. This includes your credit check, proof of income, and of course, information on how you have been handling your existing loan. If your financial position has improved since you took out your existing loan, it means good things for your new loan application.

It is a very simplified process when you do vehicle refinancing through BIB Finance. Simply apply, submit the required documents, wait for a decision, and then expect your existing loan to be settled and the new loan to be set in place. It really could not be easier.

Apply Online to Refinance and Save

You might be wondering how easy it really is to apply for refinancing and if it is going to take a lot of time or not. While you can give us a call to apply for refinancing, there is an easier way. You can handle your entire refinancing process online. Our website allows for online applications, which are quick and easy to do. One of our professional and friendly consultants will then be in touch with you to complete the process and ensure that all documentation is in order. You only have to apply for refinancing once and we will liaise with the relevant financing providers on your behalf. We pride ourselves on being able to acquire the very best refinance loans for our clients and we look forward to assisting you with yours.

If you would like to learn more about how you can refinance and save, we welcome you to get in touch with us at BIB Finance. You can give us a call or send us an email for more useful information and advice today.


Apply for Refinance.