When applying for vehicle finance through us, we use the information you
provide to find the most appropriate and affordable option for you.
Vehicle-Finance Solutions
The process of financing a
vehicle involves applying for a loan at one of the approved financial-services providers
(FSPs) in South Africa, such as WesBank, Standard Bank, MFC (a division of
Nedbank), and Absa. We deal with all these major FSPs in the country to assist
you in securing a loan and a good deal when you want to buy a new car. Cars are
expensive in South Africa, so it is very common for buyers to seek a loan to
acquire the car that they want to buy.
The norm is to go to a dealership
that sells the car that you are interested in. Once the finer details of the
deal have been decided and the final price is calculated, the dealership needs
an FSP to secure the money for the purchase. This is where things can get
tricky and loans can get disapproved. Our solution turns this situation around
by securing a vehicle-finance deal for you beforehand. Therefore, you
know in which price range you can shop according to the amount that you have
been approved for.
Getting Approved for Vehicle
Finance
Major FSPs around the globe have
certain lending models and use specific criteria in terms of approving loans. It
is a huge industry with many service providers, so it pays to shop around and
not just accept the first deal offered to you. That is why we apply on your
behalf at the four major FSPs and not just one. We can assist in securing the
best possible vehicle-finance options out of the offer we receive from them.
When applying for vehicle finance
through us, we use the information you provide to find the most appropriate and
affordable option for you. Since you are buying on credit, your current credit
score will determine whether you will be approved for such a loan. Therefore,
we will not be able to assist people who have been blacklisted. Your credit
score plays an important role in securing any form of credit from an FSP. As a
result, it is pivotal to ensure that your credit score is sound.
We also offer vehicle-refinancing
solutions. This process settles your current car loan and creates a new loan to
pay off the outstanding settlement amount. This loan is typically paid off over
a longer period, which leads to a reduction in the monthly payments and,
therefore, welcome cash-flow relief. Just keep in mind that this process extends
the period over which you pay off your car. This could be an ideal solution to
avoid missing payments and getting your car repossessed, thereby jeopardising
your credit score. In conclusion, when you want to buy a new car or simply restructure
your current loan by refinancing, we can be of service to you.
BIB Finance is your first choice
when you want to secure a loan for purchasing a new car. Our vehicle-finance
solutions can provide you with the best possible options from the leading
FSPs to ensure that you can make an informed decision and avoid any
disappointment. For more on how we can assist you, please peruse our website
for details on our solutions.