Buyers of used cars on Berlin-based general goods marketplace Kleinanzeigen can now directly obtain a financing offer for the vehicle through Bank11, a credit institution specializing in sales and purchase financing in the mobility sector.

In a press release, Kleinanzeigen said that the offer was available for vehicles with an asking price of €2,500 ($2,704 U.S.) or above on sale from private sellers.

In addition to adverts placed directly on Kleinanzeigen, adverts from Mobile.de, the leading automotive marketplace in Germany, displayed via Kleinanzeigen also have the new feature.

Once interested parties input their preferred loan amount and duration, they will be redirected to the Bank11 website. There, they can initiate a loan inquiry and, if inclined, proceed to apply for financing directly.

“With the integration of financing offers, we are taking a further step in the professionalization of our vehicle category,” said Carina Schüller, director c-to-c at Kleinanzeigen. “At the same time, we are helping to make it even easier for users to buy vehicles.”

“When buying a car [digitally], today’s customers want to see in real time whether and on what terms it would be possible to finance the vehicle and would then like to finalize this directly online,” said Patrick Rittich, head of sales center and insurance at Bank11. “They want a simple system that reliably and quickly leads to a credit decision and, above all, is intuitive to use.”

He added that once a credit decision is taken, payments are made within 24 hours of all necessary documents being submitted.

According to the company, Kleinanzeigen is Germany’s premier marketplace for general goods, with over 50 million ads on the site and more than 36 million users monthly. The company is owned by Norway-based Adevinta.

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