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Car financing: how it works at Bynco

Financing offers a solution if you can't (or don't want to) spend a large amount of money on a car at once, but still have the need for a car. Read here how car financing works at Bynco.

Pay per month instead of a one time payment

With financing you pay a fixed amount per month, so that you do not have to spend a large amount at once. At Bynco we offer you the opportunity to arrange the financing of your car with our partner Dealer Totaal Concept (DTC). DTC is an independent, expert and reliable party that provides tailored private and business (car) financing.

Of course, you are not obliged to take out finance from DTC to be able to buy a car from Bynco. 

Benefits

  • No large amount at once: you do not have to spend a large amount of money at once to buy a car.
  • Fixed monthly amount: you pay a fixed monthly amount that suits your personal situation. The agreed monthly amount remains the same during the term, whether you finance the car for one year or ten years.
  • You know what you are going to pay in advance: there are no hidden costs or extra charges that you have to pay later.
  • Trade-in = down payment: you can use the amount we give you for your trade-in car as a down payment on the financing to reduce your monthly fee.
  • Your car, 100%: in contrast to private leasing, for example, you become the owner of the car in question. You don't have to hand it in at the end of the financing

Good to know

  • Excluding monthly usage fee: you only finance the purchase cost of the car and not the monthly costs for its use (road tax, insurance, fuel/electricity) and maintenance. These costs are added to the monthly amount for the car financing.
  • Borrowing money costs money: dfter all, you pay interest on the amount you borrow.

Whatever happens, you’ll have zero costs on your car in the first half year. Also with financing.

How car financing through Bynco works

Follow these steps to buy a used car at Bynco through financing.

  • Choose the car that suits you best. Can't make up your mind (yet)? Then ask for the help of one of our car experts and let them advise you without obligation.
  • Click 'Finance' and then click 'Start loan application', fill in your details and click 'Next step'.
  • Configure your private or business car financing. We have already filled out the purchase price of your car. After entering the down payment amount and the final instalment, you will immediately see the monthly amount that corresponds to your car financing. Below that you can also see the amount you have to deposit in case of a down payment. Click 'Apply' if you agree with the monthly amount(s).
  • Your application has been submitted to DTC, our financing party. DTC will process the application as soon as possible and will contact you by phone in the near future to discuss the application with you.
  • Provide a copy of your pay slip, proof of identity, bank statement and, if necessary, additional information to your DTC contact person as soon as possible. Your pay slip and bank statement may not be older than 3 months. In addition, the bank statement must show the debits and credits (rent, mortgage, salary, etc.) of an entire month. Don’t wait too long with providing these, as this will prevent the rest of the process from taking longer than necessary. DTC expects expats to submit a copy of their passport or ID card and a copy of their residence permit.
  • DTC then determines, based on all the data and documents you have provided, whether your financing has been fully approved. If it is not the case, you will be contacted to inform you of this fact, and to explain what caused this 'outcome'. It is also possible that DTC will ask you for more information so that the car financing can still be approved.
  • Car financing approved! DTC notifies both you and us. Let’s check if the car of your choice is still available, so we can finalise the order - and agree on a delivery date.

 

This is what makes up a car finance

Duration in months, optionally from 12 months up to 120 months.

Purchase price: the amount that the car you want costs - without deducting the down payment.

Down payment: an amount that you can contribute in order to reduce the amount to be financed. You can use the money we offer you for your trade-in car for this purpose.

Financing: The amount - after deduction of the down payment and trade-in allowance, if applicable - to be financed.

Final instalment (not compulsory): the part of the loan that you pay at the end of the term. You pay interest on the final instalment, just like on the rest of the car financing. The higher the final term, the lower the monthly payment.

Interest rate: the amount of interest you pay on the amount financed. The interest rate is determined at the time of taking out the car finance and remains the same throughout the term, and therefore the monthly amount.

All the above components affect the amount you pay for your car per month.

Also good to know

  • Until your financing request is fully approved, the car you have in mind remains available for other buyers. Reservation is not possible. DTC takes this into account and tries to process every application as quickly as possible. On average, the entire process takes about 8 to 10 working days, but it will take less time if you provide them with the necessary documents (copy of your pay slip, identity card and bank statement) and/or additional information as soon as possible.
  • Don't like your new car? You can return it within 14 days and choose to annul the financing contract or switch to a different car. In case of a business car financing, costs will be charged.
  • Because you become the owner of the car in the case of a car finance agreement, you are free to sell it or trade it in before the financing contract expires. You are then obliged to repay the remaining finance amount - all remaining monthly instalments including, if applicable, the final instalment. Do you want to sell or trade in the car before the end of the contract? Then please contact DTC first.

Veelgestelde vragen over autofinanciering

Is zakelijk financieren ook mogelijk?

Jazeker, DTC, onze financieringspartner biedt ook een zakelijke autofinanciering aan. Je kunt kiezen uit twee ‘smaken’; Financial Lease en Operational Lease. Wat de verschillen tussen deze twee financieringsvormen zijn, lees je op de website van DTC: https://dtc-lease.nl/klantenservice/zakelijk. Je kunt via onze website snel en makkelijk bij DTC een zakelijke financiering aanvragen voor de auto die je op het oog hebt.

Welk rentetarief hanteren jullie voor een autofinanciering?

De rente op een lening fluctueert en daarom stelt DTC, onze financieringspartner, de hoogte van de rente vast bij het afsluiten van de financiering. De vastgestelde rente blijft gedurende de looptijd onveranderd, zodat je elke maand hetzelfde bedrag betaalt en niet meer als de rente stijgt.

Welke documenten heb ik nodig voor het aanvragen van een financiering?

In ieder geval een kopie loonstrook, identiteitsbewijs en bankafschrift. Indien nodig vraagt DTC, onze financieringspartner, om meer documenten. Je loonstrook en bankafschrift mogen niet ouder dan 3 maanden zijn. Bovendien moeten op het bankafschrift de bij- en afschrijvingen (huur, hypotheek, salaris e.d.) van een gehele maand zichtbaar zijn. Van expats verwacht DTC ook een kopie paspoort of ID-kaart en een kopie van de verblijfsvergunning.

Moet ik een financiering afsluiten bij DTC om een auto bij jullie te kopen?

Nee, ook al werken we samen met DTC, je bent niet verplicht om een (zakelijke) financiering bij hen af te nemen. Je kunt dus zonder consequenties een financiering afnemen bij de bank of kredietverstrekker waarmee je bekend bent. Kies je wel voor DTC, dan neem je de (zakelijke) financiering af bij hen en niet bij Bynco.

Hoelang duurt het voordat mijn financieringsaanvraag rond is?

Gemiddeld duurt het hele proces zo’n 8 à 10 werkdagen, maar het kost minder tijd als je de benodigde documenten (kopie loonstrook, identiteitsbewijs en bankafschrift) en/of aanvullende documenten zo snel mogelijk bij DTC, onze financieringspartner aanlevert.

Reserveren jullie de auto voor mij totdat de financiering geregeld is?

Nee, helaas is dat niet mogelijk omdat we van tevoren niet weten hoeveel tijd het jou en onze financieringspartner DTC kost om de financiering in orde te maken. De auto die je bij ons op het oog hebt, blijft dus beschikbaar voor andere kopers. DTC houdt hier rekening mee en probeert elke aanvraag zo goed en snel mogelijk af te handelen. Toch adviseren we je om eerst de financiering met DTC (of een andere partij) te regelen. Bestel daarna de auto van je keuze, dus zonder een financieringsaanvraag te doen, zodat we hem meteen aan jou kunnen toewijzen zodat hij niet meer beschikbaar is voor andere kopers.