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 DTC Financing. DTC Financing 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 Financing 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: after all, you pay interest on the amount you borrow.

Bynco's Worry-free Service

Whether you buy or finance a pre-owned car, you always benefit from Bynco’s Worry-free Service. This service includes 12 months' BOVAG warranty and at least 1 year's MOT. We also promise you that you won't have any unexpected costs on your car for up to 12.000 kilometers or during the first year* of ownership. If you do, we will solve it.

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 fill in your details. Click 'Finish at our financing partner'.
The only thing left for you to do is enter your date of birth, the amount to be borrowed and the registration number and mileage of the car at our partner DTC Financing. You can do this in the screen that opened automatically. Does the screen not open automatically or did you accidentally click it away? Don't panic, the link to open this screen can also be found in your email.
Then provide your financial details. You can do this easily and securely online. This allows you to get approval for your financing within 15 minutes, so that we can definitively order the car (which has not yet been reserved) for you.
If your application has not been approved, you will be contacted to inform you of this and to explain what led to this 'outcome'. It is also possible that DTC Financing asks you for more (financial) details so that the financing can still be approved.

Would you like to know about applying for car financing? Or do you have a question about the status of your financing application? Do not hesitate to contact our partner DTC Financing via 030 – 68 68 750.

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. Therefore, provide your financial details to DTC Financing as soon as possible so that you can quickly obtain approval and your car order can be completed.
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 Financing first.

Frequently asked questions on car financing

Is it possible to get business financing on a car?

Absolutely, DTC Financing, our partner offers business financing. Applying for business financing is quick and easy through Bynco.

Which interest rate applies to your car financing?

Interest on a loan can fluctuate. That is why DTC Financing, our partner, will determine the interest rate once you’ve applied for financing. The rates defined will remain the same for the duration of your loan.

Which documents will you need to apply for car financing?

Because you identify yourself completely online through IDIN and provide your financial details, it is often not necessary to upload documents. If DTC Financing needs more details from you, they will contact you.

Do I have to take out financing with DTC Financing to buy a car from you?

No, even though we work together with DTC Financing, you are not obliged to take out financing from them. Therefore, you can take out financing from the bank or lender with which you are familiar. If you do choose DTC Financing, then you take out the financing from them and not from Bynco.

How long does it take for my financing application to be completed?

Since you can provide all your financial details online yourself, you could get approval for your financing within one hour. It is possible that there are still questions from DTC Financing or that you have to provide more information. In that case it may take a few working days before your financing has been approved.

Will you reserve the car for me until financing is arranged?

No, unfortunately we can’t do that because we don’t know in advance how much time it will take you and our partner DTC Financing to arrange the financing. The Bynco car you have in mind will therefore remain available for other buyers. Therefore we advise you to first arrange financing with DTC Financing (or another party), and then order the car of your choice. This way we can immediately assign it to you so that it is no longer available to other buyers.