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Securing Your Car Finance

If you are considering buying a new vehicle at this time, we can assist in securing the best possible car finance options from the FSPs in South Africa.

2020-02-28

Securing Your Car Finance Before You Start Shopping

Buying a new car in South Africa is a very expensive venture. As a result, we must secure car finance from a major financial-services provider (FSP) to be able to afford such a purchase. The FSP would pay for the vehicle, at which point you must repay the loan to them. Such a loan is repaid in monthly instalments, based on a specific interest rate and, if applicable, a balloon payment at the end of the term. FSPs would commonly repossess vehicles from people who fail to make their monthly payments. We can assist you in finding the best possible loans before you start shopping for your ideal car or weekend cruiser. By knowing beforehand how much you can spend, you can make an informed decision on your purchase and get the best deal.

The major financial-services providers in South Africa include WesBank, Absa, MFC (a division of Nedbank), and Standard Bank. We can deliver the best option for car financing from these FSPs, based on your current income and other factors such as credit score. Therefore, if you are blacklisted, we cannot be of service. However, if you have a solid income and keep up with money payments, you will be in a good position when applying for such a loan. Our solution is simple. We take your information and find the best options from the FSPs in South Africa to secure a loan before you go to a dealership. Although it might seem unusual, it will put you in an informed position when buying a vehicle. Therefore, you can shop within the bracket that you can afford instead of overreaching and getting your vehicle repossessed when missing payments. When it comes to asset finance, we have you covered.

Knowing is Half the Battle Won When It Comes to Finance

A common mistake that many South Africans are guilty of is overspending when buying a daily driver. Work is scarce and not guaranteed. Therefore, by getting your car loan approved before you go to a dealership, you know exactly how much you can spend on a vehicle. Knowledge is power when it comes to finance. A few determining factors will influence your purchase. If you are looking for a certain type of vehicle, such as a bakkie or SUV, you can expect to pay considerably more in comparison to a standard hatchback or small car. Therefore, knowing your price bracket will give you the advantage to make a more informed choice. Another determining factor is how you intend to use the vehicle that you want to buy.

Most South African adults own a daily driver to get around. Therefore, many locals are clued up on the motoring industry and how it will change in the foreseeable future. If you are considering buying a new vehicle at this time, we can assist in securing the best possible car finance options from the FSPs in South Africa. You might have your eye on a specific vehicle but are unsure if you could afford it. By applying through us, you will get a comprehensive outlook on how much you can truly afford when buying a new vehicle. We take the stress out of all things asset finance. While you’re having fun choosing your new vehicle, we’ll crunch the numbers and find you the best deal.

We also offer car refinancing options for people who struggle to make their current vehicle payments. Instead of waiting for the day that your vehicle gets repossessed, rather refinance the loan to lower the monthly instalments. This is accomplished by extending your current loan period to lower the current monthly payments. Therefore, these payments become more manageable and you can avoid losing your vehicle. By choosing our services, you can avoid these pitfalls and be a responsible and smart vehicle owner instead. Securing a car financing deal that works for you can be very difficult when attempting it on your own. We can be your guide through such unpredictable waters.

BIB Finance is your answer when you want to finance a car, bike, or leisure purchase in South Africa. Cars are expensive but necessary for daily commuting in this country. For more details on how we can assist you through such a purchase, please browse our website. Be smart about such a large purchase and secure your loan with us.