BIB Finance

Confidential, Secure Financing
BIB Finance

Vehicle Refinance

Alleviate Budget Stress and Strain with Vehicle Refinance

If you are starting to feel the pinch of high expenses each month, it is probably time to think about cutting back on some of them. Unfortunately, it is not always possible to reduce some of the fixed expenses and this can leave you feeling desperate and unsure of what to do. One great way to cut back on your financial responsibilities is to think about getting a smaller car.

If you do not want to compromise on your car – trust us, we understand – then it might be a viable option to think about vehicle refinance. In this way, you get to keep the car you love, while enjoying a lower monthly instalment. It can be a big financial relief. 

The car that you drive has probably earned your trust and you might be scared that downscaling will put your safety and comfort at risk. At BIB Finance, we have helped many people to refinance their cars so that they can continue to enjoy their quality of life without becoming financially crippled. Affording your monthly expenses is a large part of leading a healthy and happy life. Financial struggles lead to stress, strain, and possibly even health problems. With the right financing decisions, you can ensure that you do not become a victim of this. 

 With vehicle refinance, you can alleviate some of the pressure on your budget while you still enjoy your car. There is no need to start compromising on your preferences, if refinancing is a viable option. Just like a regular loan, you must apply for a refinance loan. Your budget needs to be analysed and the amount you can afford to pay each month must be determined. This process will determine the loan amount, repayment period, and monthly instalments. We can assist you with this process and while we are at it, we will do our utmost to ensure you get the lowest possible interest rate as well. 

 If you are worried about where your loan will come from, rest assured that we only deal with all the leading banks and lenders to ensure that you get the best possible deal. We drive a hard bargain for our clients. We work with most major financial institutions including MFC (Nedbank), ABSA Bank, WesBank, and Standard Bank. In order to apply for a refinance loan on your car, you must have a sound credit record. A credit check will have to be carried out, so make sure that you are not blacklisted and do not have any judgments against your name. Your credit record will reveal how you handle your existing credit and this will have an influence on your application. You must have a valid South African driving license and a barcoded ID. 

 Taking a look at your current vehicle finance is the first step of the process for us. If you settle your vehicle amount in full, the amount will be less than reflects as outstanding on your statement. We will help you to understand the terms of your existing loan so that we can determine your settlement amount. The amount that you borrow will need to pay off the outstanding amount on your vehicle loan over a longer time period, which reduces the monthly instalments. If you have been managing your existing vehicle finance agreement well, you will stand a great chance of getting a good deal at a favourable interest rate and lower monthly premium. 

 Applying for our assistance online is quick and easy. Simply use our car refinance loan application option and provide us with your personal details and that of your vehicle. Let us know if you would like to apply for the loan in your personal or business capacity and we will take care of the rest. Any required supporting documentation and correspondence will be requested from you by our friendly and knowledgeable refinance consultants. We keep the process hassle-free for you. After all, nobody likes to encounter red tape when applying for finance. 

 If you would like to chat to one of our friendly finance consultants, we welcome you to get in touch with us at BIB Finance. For more information and advice on refinancing your vehicle loan, contact us via email or telephone today.

Apply for Vehicle Refinance.