Compare the best loans of South Africa and find the lowest rate
If you are looking for an easy way to get a loan, without having to wait tons of time in person at a physical branch, you are in need of an online loan. Fortunately, there is one company, which offers loans to people that want to obtain a loan from their computers, Bidvest Bank.
For that reason, in the next article I will give all the information you need to know about the two loans granted by this company: Business and Vehicle Loans. Then, I will give you the different contact information of Bidvest, such as phone numbers and email addresses. Also, physical addresses will be given, for you to be able to contact the company in person as well.
When it comes to loans for your business, there are five options available:
1)Asset-based finance: this is a way to pay for all the vehicle of your company, which consists of fixed monthly installments. With this loan you can lease your car, by doing the following actions:
-You can experience a decrease in the monthly rentals of your car by only financing the use you give to it
-You will save time on the administration of your car
-As you are not selling your car, you will be taking out the possibility of losing the value of your car
-You will be able to increase your cash flow
-You will be paying less taxes because rentals are translated as operating charges
-You can change your contract, because it is flexible and allows changes determined by the financial situation of you and the country
-You have the possibility of buying new assets
-You will receive protection as a driver in plenty of circumstances
2)Rental finance: this kind of loan is pretty similar to the one mentioned above, but the most outstanding difference is that you will not be given protection for maintenance expenses and repairs made to your car. This loan gives client less cash flow but at the same time the risk the client takes is lower than the one with other leases.
Let me point out its features:
-You can pay all the different expenses related to your car, but the fuel ones are not included.
-Interest rate set at the beginning will not be subject to changes
-You will only finance a part of the depreciation you make use of
-The Vat will not appear in the purchase price and you will need to pay it only for the part you use and not more
-There will be a residual value determined by the company, so as to reduce the rental fee
-You can ask for the ownership of the vehicle if you settle your capital but that is not compulsory.
3)Installment Sale Finance: this is a way through which the company and allow you to buy and finance your cars and other means of transport for a period of time determined by Bidvest, for a year. You can pay for all the charges related to the use of your vehicle and also claim for the wear and tear service, which typically consists of about 20% each year. That percentage is based on a depreciation of about 5%.
4) Commercial Property Finance: with this loan you have the chance of restoring or buying a property for commercial or retail usage. Or you can also re pay for a property you already own.
5) Medical Equipment Finance: with this program you are allowed to finance all the necessary equipment and technologic appliances you need if you are a doctor.
So, as you have seen, Bidvest offers Business loans which have the same facilities as any other type of loans and can help you to manage your capital in order to cover all the expenses you need to pay off
When it comes to loans in order to finance your vehicle or the expenses generated by it, there are certain advantages you can enjoy:
-Finding a solution in order to pay less taxes
-Receive assistance on the road
-Obtain a comprehensive insurance and being able to choose the company
-Being able to buy new vehicles with discounts and special prices
So, there are three different finance options for your car or vehicle:
1-Instalment Sale Agreement: through this agreement you have about five years in order to finish financing your vehicle. This option is typically recommended to those clients that have obtained a car allowance, want plenty of time to finance a loan and want to become the owner of the car once the loan has ended. Moreover, if clients possess a good credit score, they are authorized to make use of balloon payments, which means paying less installments in the long run
2-Finance Lease Agreement: this is loan is really helpful if you would like to pay your car in a period inferior to 60 months. This is also an option suggested to clients that have received a car allowance and would like to make balloon payments during the whole loan. With this loan, clients can also become the owners of the car once the last installment is paid.
3-Operating Rental: with this loan you can have access to the leasing of a vehicle in terms that usually consist of 60 months, but they will of course be determined by the distance you travel with your car each month. With this option, you have access to the lowest outflow of cash and also lowest risk, so two benefits at the same time.
CONTACT BIDVEST BANK:
You can take advantage of the company´s customer call centre, which is a free line you can take advantage of. So, please phone on 0860 11 11 77. In such line, you are going to be asked about the Reuters Code, which is BIDJ. There is also a SwiftCode: BIDBZAJJ, so please bear that in mind.
There is another call center for those calling from abroad: 27 11 407 3103
You can try contacting the company by sending their representatives an email to the following address: email@example.com
The head office of the company in South Africa is located in Porth Elizabeth, exactly at 53 Ring Road. There is also another office in Cape Town, located in the Foreshore. You will find this branch in the 6th floor of the following address: 33, Martin Hammerschlag Street.