Alma Media-owned car vertical NettiAuto tied up with Nordic bank Svea to enable users to purchase cars, which are offered on the NettiAuto marketplace, from each other with installments, according to a report on Finish news site Iltalehti.fi.
The new service facilitates the car trade between individuals by offering the possibility to apply for financing directly from the Nettiauto site. The buyer can apply for financing in advance, and the credit decision will come the next business day.
When a car sale has been agreed with the seller, the buyer and seller can create the contract and sign it electronically within the NettiAuto site. The granted financing can then be used as a payment method in the transaction. The financing company also handles the car’s registration as part of the service.
NettiAuto is the largest auto vertical in Finland. It was acquired by Alma Media last year, together with several other niche marketplaces. In April, the sites were merged with Alma Media Suomi and are now part of Alma Media’s automotive business.