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Our new loan product for used car resellers

Blue Automotive Sales – a brand new and original loan product for used car dealers 

Blue Automotive Sales or, as we call it, ‘BAS’, is the newest brand in the Danish branch that was launched in May 2022. This brand is an innovative financial solution directed solely towards used car dealers who wish to have more liquidity for improving and expanding their business.  

We see ourselves as a business partner working together with the car dealers and offering them advice and help as a part of the process. The process of the concept is that we agree on cars to buy in cooperation with the car dealers. Usually, they find cars that fit their clientele, skills, and experience so that they can sell the car. 

We then buy the car and make an agreement with the car dealer that gives them an exclusive right to sell the car on their premises. When they have sold the car, they buy it from us and still get the profit from the sale. We only charge a small premium fee.  

This business model has several advantages for the car dealers. Seeing as they do not have to use all their funds on building and maintaining a big and diverse inventory of cars, they can use their money in other ways.  

They can use their capital on expanding and optimizing their business in ways that they see fit. They can also choose to reinvest some of the free liquidity. These are all ways to increase their earnings and scale their business. In other words, our concept can create a positive snowball effect for their business and help them grow.  

The car industry is ever-changing and must keep up with the newest technology and demands from the consumers. This makes it a tricky market to navigate and only makes it more advantageous for the car dealers to be in dialogue with an external partner as BAS that can provide extra perspective, new insights and prevent blind spots in their business strategy. 

We have developed routines that are meant to make the processes as easy and simple as possible for the car dealers, so they can focus their time and energy on running their business.  

KreditNU is celebrating its five-year anniversary!

KreditNU was launched in 2019 as the first Blue Finance brand in Denmark and can celebrate its 5-year anniversary in August 2024. A lot has happened in those five years, both internally and externally.  

The regulations for loan providers in Denmark have changed a great deal over the last years and has generally made loan terms more favorable and transparent for consumers. This has influenced the common public discourse about online loans, which is slowly and gradually changing. 

Our product has also changed significantly to adapt to the market and the current Danish legislation. This means among other things that the APR now is at the lowest level in the existence of KreditNU.  

KreditNU has gone from offering online quick loans with a high APR to offering online consumer loans without interest rate, but with an establishment fee of 25% of the loan amount. This fee is added to the principal of the loan, and this means that the repayment amount stays the same throughout the term of the loan.  

It has been and still is important for us that our loan products act as a helping hand and do not contribute to financial problems and vicious debt spirals for our customers. Therefore, we take our credit rating process very seriously and we have responsible internal loan guidelines that we follow consistently. 

We have gone from handing out 335 loans on average each month to doing this on a weekly basis. In total we have disbursed around 50.000 loans of which approximately 17.500 loans were disbursed during the last year, which indicates the exponential development KreditNU has taken in the last years. 

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