Car financing: how it 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. 

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.