Romanians can now buy cars from Carvago with financing from TBI Bank within minutes

The annual inflation rate has significantly increased in Romania in the last year, and the trend may continue until the end of 2022, making it harder for customers to buy high value goods like cars.

To make such purchases more accessible to consumers, TBI Bank has partnered Carvago, an international online platform for selling second hand cars, helping Romanians purchase vehicles through the Buy Now, Pay Later (BNPL) solution in a payment plan of up to 60 installments.

TBI Bank is the only approved financing provider on the platform for individuals, offering access to amounts of up to 80,000 lei with online approval in just a few minutes. All customers have to do is enter the platform, choose their preferred car, click on the TBI Pay button, then receive a link and finalize the loan application online.

”A personal means of mobility is very important for most people because it offers great freedom of movement and leisure, which is why the interest in cars remains significant, despite challenges in the purchase process due to the economic environment. The partnership with Carvago allows us to help more people who want to own a car, the support to cover the full cost in a fast and easy way”, said Gergana Staykova, TBI Bank,  Market Leader Romania.

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The Czech company Carvago is an online platform for selling used cars and recently announced that it is entering the Romanian market. The company aims to sell almost 1,000 cars in its first year of presence in the local market and over 3,000 units in 2023. The platform also offers products from authorized dealers in Romania, from different brands, with about 7,500 cars from the Romanian market already sold to buyers in other European countries so far.

“Carvago brings a different, more transparent, honest and faster way to people who want to buy a second hand car. Our online marketplace offers to all potential buyers in Romania a wide choice of cars, with more than 750,000 vehicles listed, out of which everyone can choose their dream car. Carvago simplifies the process, and we can now even finance the acquisition thanks to the partnership we have with TBI Bank, so we can offer a complete solution to our Romanian clients”, said Jakub Sulta, CEO Carvago.