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How to Get Vehicle Loans from Capitec? Information and Rates

The idea of having your own car sounds amazing and it may give you a sense of power and freedom. However, there are many important things that one needs to consider when asking for a loan to get a car. You have to be responsible and know that you have to pay for its maintenance. You have to take into consideration factors like deterioration, regular services, coats of paint, fuel prices, expenses and bills that come with having your own car. Let us not forget that you also have to pay for vehicle insurance. A car, though, allows for freedom and spontaneous road trips with friends and family and loved ones. This freedom you can reach at Capitec Bank with a vehicle loan.

Getting to know Capitec

                Capitec begun its journey in 2001 by setting up a small financial company. As time went by, it became more and more popular and gained prestige and status in the loan market. With more than 826 offices, Capitec has made its way through South Africa.

How do vehicle loans work at Capitec?

                They work the same way a personal loan works. The difference lies on the fact that you have to choose a dealership and a deal that works for you. If you need to search for certain values, you can calculate through the bank. However, you need to create an account in order to access the possible costs and estimated installments.

Which actions are possible at Capitec?

                You will be able to save money, ask for insurance or credit (whatever you may need), transact, etc. You should always check the regulations made by Capitec so that you comply with them.

Is it difficult to apply for a loan at Capitec?

                Definitely no! It is actually much easier than it looks. Call the company and tell them the kind of loan you need. If this is not the ideal situation for you, you can go directly to the company and ask for the loan of your preference.

Are there any testimonies of vehicle loans from Capitec?

                There are many clients happy with the vehicle loans that Capitec provides. Here is a story that might interest you since it can help you have a different perspective of what a vehicle loan is like at Capitec. This is the story of a woman called Tshego, who decided to choose Capitec and got a loan there:

                After a long time, she gave it a lot of thought and decided she wanted to get a car. She decided to finally say goodbye to public transport. She was at a stage in her life in which she really needed and wanted a car. Therefore, she spent some time shopping around and found exactly what she was looking for. She had some money saved but needed that little big extra to make her dream a reality. She applied for credit through Capitec and she was instantly approved. She was off on her way to the dealership and she got a discount on the purchase price as she was able to pay cash for the vehicle and to top it all off, she was able to apply for a job in a nearby town thanks to the car she acquired. She got her way into using wisely the credit given by Capitec.

                This is only one story, but you should know that there are plenty of positive comments and anecdotes of clients that decided to trust Capitec as a dealership for vehicle loans.

Does Capitec give any advice on vehicle loans?



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Capitec believes that before applying for a vehicle loan there are certain bits of information you should bear in mind, especially when you are in search of a suitable vehicle.

  • Capitec advises clients to deal with reputable dealerships that are actually registered with MIF. This is incredibly important since clients should have a company that they can rely on.

  • Before purchasing your vehicle, evaluate the possibilities that the market offers. Compare the different values and prices of the varied models and brands so that you reach a reasonable price

  • What should you consider?  There are factors you can’t ignore, for instance, the mechanical condition of the car, the mileage, as well as the bodywork. Are there any oil leaks? Check these types of inconvenient that could pop up. You do not want to deal with a mechanical problem with a car you have just acquired.

  • Ask yourself important questions, such as: has this vehicle been involved in an accident? If so, check whether it needs any fixing. The reliability of the car could be affected over the term because of this. 

  • Have you checked the service book? This may seem like a minor detail but it is just as important as the rest. You need to make sure that the car gets a service on a regular basis. It should be maintained in excellent conditions for you to keep its value in the market.

  • Have you checked its service history? Once again, be careful because otherwise you might have to deal with future maintenance.

  • Use calculators. Do not buy a car that you can’t actually afford. Check whether the costs involved are fair or not for your particular budget.

What does Capitec offer?

           It mainly stands out because of offering simplicity in its financial deals, accessibility for every user, services that are totally personalized and affordability to make prices fair.

Is Capitec an offer for vehicle loans?

                To conclude, Capitec offers vehicle loans that will enable you to get rid once and for all of the public transport and accomplish your own dreams. This car might be a step towards independence, freedom and liberty. All you have to do is study the possibilities and see whether Capitec can give you the right financial deal to obtain your car. As you can see, there are many testimonies of what vehicle loans are like at the company. Find yours, it is waiting for you.

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Questions and Answers

I want to buy me a second hand car. Can capitec help me?
Yes, totally. Capitec has designed special loans that aid customers looking not only for new cars but also for second hand or old cars. The only requisite is that you have your financial documentation and that the price of the car you want to purchase does not exceed R 230 000.
I earn 2700 fortnightly, I bank with Capitec and I wanted to know if I could qualify to get finance
Providing you get pay slips from your job and, your salary is steady and deposited into a bank account, you are allowed to apply for a Capitec loan. You can get a loan estimation to know the terms - amount and installments- your finances will allow you to take. With that estimation, you will be capable of deciding if a loan with Capitec is your best option.
11 I need to buy a car so, I need a loan to buy it. What should I do?
Capitec can assist you on the vehicle finance with a personal loan to cover at least some of the cost. If you’ve saved some money, Capitec can help you pay for the rest. But, you may find put about companies with vehicle loans to get a product that properly fits this need. Standard Bank, for example, it’s a possibility.
Good day. I have a multi loan with Capitec. My question is if I can cancel this multi loan and substitute it with a car finance costing r45 000 and monthly repayment of r990 a month?
If you have the money to cancel the loan completely, you can do it. Although, keep in mind, Capitec may charge you some extra fee for repaying the loan before time. Then, once you pay back that loan, you can reapply for a new personal loan the amount you states, R45.000, to get the bank’s response as regards your affordability.
Can Capitec help me with a loan if I want to buy a second hand car of r30,000?
Yes, Capitec can be helpful with that. You are permitted to ask even R250000 if you need it. The amount you request will be approved if, besides complying with Capitec requirements, your affordability assessment reflects that your finances can afford to pay back the money timely. Before stating the terms of the loan, make sure you choose a repayment term that suits you.
Hi, I want to buy a car and my salary is 4000, can capitec help me to buy the car?
It can be the solution you’re searching for if you can prove your financial situation fits Capitec’s requirements. We advise you to start by using Capitec’s online estimator to know what loan quote they’re willing to negotiate with you. That way, you will know from the start if this bank is a viable alternative for you or, you should keep searching.
How much must be your nett when wanna borrow money to purchase a vehicle?
Your net income should be sufficient to pay for the instalments on each month but, also, to pay for your regular expenses. This way, the lending company will trust you won’t end up failing on any of the payments. Consequently, the minimum net income will be stated taking this information about you into account and, the value of the car you want.
I once paid off a loan of r6.000 at Capitec but now that I’m working for a different company I’m struggling to get a loan from them because they say the company I’m working for does not appear on their system. So can I ever get help?
If the company where you work is not registered, you will get trouble finding a bank willing to accept your loan petition. Simply because the bank, Capitec in this case, can’t verify you receive that regular wage, which, in turn, makes it hard to verify your payment capacity. Unless that situation changes, you won’t be capable of taking this kind of loan. You may work with entities that only asks bank statements to be approved for a loan.
I need to buy a second hand car. Please, help
As second hand cars are a little cheaper they are also easier to get. This is a positive point as, it’s possible for you to get a loan from Capitec to pay for that car. If that car’s value is R 250.000 or less and, you think you can repay the loan in 84 months or less, the terms that this bank offers work perfectly.
How much must I earn to qualify for a vehicle loan?
The salary amount that will allow you to get a loan will vary according to your general financial situation. As a consequence, it’s not that important how much you earn but, how much you spend from that salary and, what’s the credit history you have at the moment of apply9ing for the loan. Another ting to highlight is the sum of money you need.
I need a car for my son, please. Can I get help?
Sure! If you want to, you can ask Capitec money to pay for that car or, you can go and find a bank granting vehicle loans. These loans will require you to leave the car you bought as security, which means you can drive it but, it won’t be officially yours until you cancel the loan completely. However, this option may allow you to get a higher quote.
Hi, my salary is r4000,00 and my job now requires having my own transport. Could I get vehicle finance for about r35000?
As you have stated you currently enjoy a regular job, there is no problem on that matter to get a loan. However, there is a little problem when looking at the sum of money you need as, Capitec Bank’s maximum loan amount to request is only R250.000. If you think you can use that lower amount, you can start your application. If you need a higher amount, you will be forced to look for another bank to get vehicle assistance.
How will I make the application?
As stated in the article, you have multiple ways to begin the application, either by phone, online or in person at a physical office of the company. Moreover, you can send an email to the address that appears in the website of the company.
Do I qualify 2 buy a r30 000 car if my salary is r3600?
The only way we can answer that question is having more information. On one side, it’s important to know how much of that salary you spend on food, bills and any other expenditure. On the other side, the bank will always pay attention to your credit story as, it will determine how responsible the client is with loan payments. However, you can benefit from the online estimator to have an official Capitec answer.
Can Capitec buy a car for me that cost r59000?
No, Capitec will not buy a car for you. In fact, they’ll have nothing to do with the purchase. What this bank will do to help you is just, lending you the money for you to go and pay for the car. This means, you will have the money in your bank account to spend it on a car, if that’s what you need to pay for.
Good day: I am looking for loan to buy a car. What are my options to contact Capitec?
To make contact with Capitec Bank you can use any means of communication. You can give them a phone call or, visit them on any of their offices near your home. But, if you want to get in contact to ask for the loan, you have few other options. Besides the ones I’ve just mentioned, you can use Capitec’s App or, get it through their web page.
How much installment will I pay when I borrow r100.000?
The monthly installments will be different based on the repayment term you select to cancel the loan. Let’s look over the following example: a hundred thousand rands to pay over 2 years, will have an approximated monthly instalment of 5136 rands. Now, if you extend the term to repay that loan amount on 7 years, each installment will be around 2421 rands,
Do I qualify for loan if am earning 8000 per month and do not bank with capitec?
Banking with Capitec is not one of their requirements; although, having your bank account at Capitec, would give you some benefit on the interest rate. But, if you do bank with any other entity, only by sending your current bank statements to Capitec for them to verify your earnings, you can apply for a loan with this company.
Can I get a cheap sedan toyota corolla 1.6 with capitec car finance?
Actually, Capitec does not have a product directly aimed to finance a car. You can only have a personal loan, which will be tailored to your affordability capacity. So, whether you can pay for you Sedan or not, will be decided after you submit your financial information to Capitec and they go over your documents to study how much money can you afford to borrow.
I want to buy a quantum taxi
Ok, I guess you have commercial purposes for your Quantum so, you may have a better choice with another bank but Capitec. For example, Nedbank as well as FNB has some useful business loans you can really take advantage of. If you’re not convinced about a business loan, you can check what do they offer on vehicle loans. These options may be more suitable to you.
I earn r8000 after deductions. Can I apply for vehicle finance
Earning 8000 rands is high enough to have the chance to apply, assuming, of course, you’ve checked you comply with the rest of the requirements. The only thing you have to remember is that you’ll only get a personal loan from Capitec that may work to pay for a car. If what you really want is a vehicle loan, you can pay attention to Standard Bank or Nedbank.
I need a car finance. Does Capitec offer one?
What Capitec offers are personal loans that can be spent on whatever the client needs, including to buy a car. However, you may need a bank that has among their loan products an option prepared for such commercial operation. A useful alternative can be found at Nedbank. There, you can choose among their qualified dealerships to get the car you want.
Can Capitec help me with a loan to purchase a second hand vehicle worth r200,000? I am 20 years old
The minimum age Capitec demands their applicants to be is 18 years old so, clearly, you being 20 is not an obstacle. Having that requirement ready now, you have to pay attention to the other two: having pay slips to show to the bank and, bank statements to present. If you have a stable job, you can go over your credit affordability to know if Capitec will lend you R200.000.
I wish to own a second hand vehicle, and I wish to know if I can afford buying the golf 5 gti at an amount of r 115000
Luckily, you have a really practical tool at Capitec Bank to answer your question. Using their online estimator, they can calculate how much money can you borrow. Of course, they need to have certain information like, for instance, how much are you paid monthly, how much money you spend on your monthly expenditures and, of course, what’s your credit score.
I just want to know if u borrow r65000, how much will I pay and for how long?
When Capitec’s agents study your petition, they also study your income, expenses and debts. Putting all that information together, they set the number of installments you can afford. For example, if for R65.000 you get 24 installments, the monthly cost might be R3.384. If you get a longer period, let’s imagine 36 months, the monthly cost might be R2.473. Bear in mind, the cost will also be affected by the interest rate the bank sets for your loan.
Am earning 6000 but not permanent, do I still qualify for a vehicle loan?
Capitec checks cautiously the applicant has enough monetary stability to pay for the installments and, their monthly expenses. The problem of not having a regular salary is that you may find yourself incapable of completing the loan’s payments for one or more months and, that would bring a lot of problem. That’s the reason why you probably get difficulty on getting a loan approval form Capitec if you’re not permanent employed.
I saw this golf from olx app and its 62000 as the capitec member i need a loan can you please let me know if i qualify
Hi!If you are interested in knowing whether you apply for a loan or not, first you must contact a member of the company on this number: 0860 10 20 43 or send an email to ClientCare@capitecbank.co.za. The crucial information is your salary which must be of R 2500 or more and your credit record.
Can you please check for me how much I qualified for?
To get to that answer it’s necessary to have some key information about the applicant we, unfortunately, don’t have. But, we can still help you on this. If you enter Capitec webpage, you’ll find their Credit Estimator. By following the three steps you’ll see there, you will be informed about how much money they think you can take from them. Those simple steps are: 1) your personal information, 2) verify that information and your identity and, 3) you get the answer.
Do they offer student loans?
No. They only offer personal loans that can be used for any purpose you need.
Are there any opening or closing fees?
There are fees depending on the amount you borrow and the repayment term you choose.
My question is do I qualify for car finance if I'm a business owner? My income is of r15000 every month
Even though Capitec doesn’t allow self-employed people to apply for their loan, they do allow business owners to do so. Make sure your company is registered and, you can show Capitec documents to corroborate your identity and, your business’ profit. Then, you will be accepted to get a loan. Three months old bank statements will be mandatory to present in order to ask for the money.
Can I qualify for car finance if I’m self employed and I want to buy a quantum?
To be a self-employed worker brings some disadvantages when applying for a loan. Not all lending companies are willing to finance self-employed. Capitec, for instance, won’t issue you a loan unless you present current pay slips. There are; however, some other companies you can pay attention to. One of them is FNB. You can take a loan from them with just few special requirements like, showing them your latest 6 bank statements.
I want to buy a mini bus 32 seaters for transporting school children. Is Capitec going to help me?
There are two factors to pay attention to. One of them is that Capitec provides personal loans that can be used to finance the purchase of vehicles. The other factor is that you need to make that purchase with business purposes. For these reasons you may prefer contacting a company granting business loans, for example. Nedbank is one of those companies which, in addition, offers vehicle finance. So, in your case, you may get a better solution at Nedbank.
Good evening. I am currently working and I’m permanent. I earn r8300 a month. What are the possibilities of me requesting a bank to buy me a car then I pay it every month?
Being a permanent worker and earning such salary already gives you some advantage on making a bank accept to lend you money. The other factor to get the loan approval is whether you have good credit history. If you do, the bank will trust in your responsible payment and they will grant you the money you need.
Vehicle loans 150 -200 k. I’m self employed. if the request is approved, I can grow business and ensure payments
There’s an important detail we need to clarify first. Capitec doesn’t offer vehicle loans, but, you might benefit from a business loan, if you need the car to make your business grow. Capitec Bank has a special loan product for business owners and, if you can show the bank your company makes steady profit, they might accept to help you take it to the next level.
Can Capitec buy a car for me?
No, but they can give you the money for you to pay for it. Capitec personal loans are issued for the customer to spend it freely as he or she needs to. So, as long as this lending entity decides you qualify to get a loan with them, you can take the money and finance your car.
If I have a loan with other bank, can Capitec settled it for me so that I can get a second hand car?
You can use a Capitec personal loan to settle existing liabilities, of course. I think it’s important to clarify, Capitec does not have consolidation loans, though. So, if you can take the money and cancel your debts on your own, this bank can help you. If, on the contrary, you prefer having the bank doing the transactions, you need to work with a company having consolidation loans as, for example, Absa.
I want the bank to buy me the car but not new, a used car
If the car you want to purchase is new or used, it won’t make a difference on the loan confirmation. The detail you must have in mind is the value of the car you want as, the loan quote Capitec offers won’t be higher than 250.000rands. Besides, that amount is going to be decided according to your financial information.
How you qualify to get a vehicle loan?
To get the approval from a bank for a vehicle loan you should meet requirements related to your earning, documents proving your identity and, of course, information about the vehicle you intend to acquire. There are different options like, getting a new car or a pre-owned car. As long as your credit score is good enough, you can get the car you want.
Is Capitec providing vehicle finance?
Not exactly. Capitec provides loans that can be used to pay for the purchase of a car. These loans are issued without needing to have information about the car you’ll buy so, they are a little simpler to process and get. In contrast to personal loans, vehicle loans may be issued by a higher amount as, there’s a security involved: the vehicle bought.
I bank with Capitec and I want to know if Capitec would help me for a loan. I’m working permanent, how can I get a car?
As you have two main requirements covered, what you need now is to get your latest bank statements and pays lips to Capitec along with the application form. Once Capitec Bank gets your information, they can tell you the sum of money they can lend you. At this point, you may discuss with them the terms to see if what they offer matches with what you want.
Can I get a loan if I don’t have a bank account and I get paid cash every month?
No, unfortunately, you can’t get access to Capitec loans if you don’t have a bank account. First of all, Capitec Bank needs bank statements to know how you spend your income and; apart from that, they use the bank account to transfer the loan into it. Also, loan payments are made by debit orders. You can open a Capitec account to get the loan.
Hi I'm permanently employed earning 7000 after deduction, do I qualify for a 150.000 vehicle finance?
Being permanently employed already gives you some advantage on the application. After that, Capitec’s response will be given according to the loan terms you choose. For example, to pay R150000 over 84 months, may get a 16.30% rate and, leave monthly payments of R3583. But, to pay that amount over 24 months, may leave the payments on R7891. Also, the rate will be modified as regards your credit score.
I need a loan to buy car, will Capitec help me?
Yes! Capitec will try their best to set loan terms that fit your needs. This means that, they will arrange to lend you a loan amount for a period of time your income can afford. To do this, they need you to present true information with faithful documents showing your current economic status.
Do i qualify for a loan with a basic salary of r4500. When & where can i apply. What must i have for a successful application
Hello! With R 4500 you certainly qualify for a loan, since there is a minimum of R 2500 required in most companies. For a successfull application it is needed that you gather payslip, bank statements, proof of residence and a good credit record. Good luck!
Can I apply for a car loan at Capitec bank?
At Capitec, you can apply for a personal loan to use as you wish. Subsequently, if you’re approved, you will get the money and then, pay for the car you want to buy with it. However, as it won’t be a vehicle loan, it won’t work as such. You will go over the whole process, from applying to repaying it, like a common personal loan. So, you need to keep in mind, for instance, the car you’ll get won’t serve as guarantee of the loan and, as a result, you may not get a loan amount high enough to make the purchase.
Good day. I am currently working and i'm permanent. I earn r4000 a month. What are the possibilities of me requesting a bank to buy me a car then i pay it back every month? Thank you
Hi, you can apply for a Car Loan as long as you possess a salary of R 3000, wo what you earn is more than enough to finance the vehicle of your choice. However, bear in mind that your current credit record is also important
How do I apply for a car finance on line at capitec bank?
Getting a Capitec loan is really simple to do. Remember, they have personal loans so, all you need to do is to start asking for your quote assessment and, once you have the result, go on with the online application. Pay attention to the loan amount they offer to decide if it’s enough to make the car purchase.
Where can I find an office in Cape Town?
There are several branches in each province. Please search for your closest local branch on their website.
Please, I am in need of a car seriously. I think you, as my bank, can help me, I just need the sum of 50 000
Being a Capitec Bank client can make your loan process be more practical. The reason, simply, is because they already have some information about you. So, you just need to start the loan request by submitting the application form and wait until they inform you about the loan quote they are willing to give you.
How can I get a long term loan?
When you get to the moment you have to send the loan application, you can state what’s your ideal loan term. Then, Capitec will verify if what you asked for can be accepted or, you’ll have to get different terms. But, if you already have a loan and, you want to expand the term, you have to get in contact with Capitec to explain them the reason and help them find a possible solution.
I am an oral hygienist earning +- 8000 to 10000 monthly working on a private practice will i be able to get a vehicle loan?
Getting such amount of money per month is a good start to get a loan from Capitec Bank. Now, the bank will request you to inform them about your expenditures to calculate the sum of money you can take from them. At the end, they will also check what’s your credit score, which may have an effect on the interest rate they set for your loan.
Dear capitec, i am permanently employed by the department of water and sanitation. I need a car loan because i have found a car of my choice from carfind. I will be happy if i can be assisted.
Hi! As you already know which is the car you want to purchase, you sure know how much money it’s worth. So, you can take advantage of two amazing tools. One of them is the loan simulator. This tool will show you how high your installments may be as regards quote and terms of the loan. The other tool will estimate how much money can you ask Capitec for a loan.
Can Capitac buy me a car for 3000 when I get 3500 a month?
Yes! Capitec Bank offers loans from R1000 onwards. As the sum of money you need is rather small and, you earn enough income, I’m sure you won’t have big trouble getting access the credit. Assuming, of course, your credit score is good and you can show documents to prove your financial status, you’ll reach the approval.
Am I allowed to apply if I'm self employed?
You won’t be allowed to take a loan at Capitec if you work on your own. Capitec Bank grants credits to workers getting pays lips form their employers only. Another requirement that’s essential is the time they’ve worked for the same company, which should be at least three months. But, don’t worry as, there’s FNB that issues loans to self-employed workers in South Africa.
My basic salary is 3300, my expenses are 1500. Do I qualify for loan of 50000?
Leaving your income and expenses aside, there’s a third point that’s really important to establish the approval of a loan application. I’m referring to your credit history, meaning, how good have you paid for previous debts. In that record, all your payments are taken into consideration: credit cards, bills, loans, rent payments. If you had no trouble repaying your liabilities, you have big chances of getting your loan to buy a car.
Can I apply for a car loan while having two loans with Capitec?
Capitec Bank’s criteria to issue loans is, mostly, the applicant’s capacity to repay the loan. If you receive sufficient funds each month to be capable of paying for the three different instalments, they will accept to give you more money. However, it is your responsibility to make smart decisions about your money and avoid paying high rates.
I do have a car but it is old now, I need a new one to work. I want to know if capitec is able to buy me a car because I do have a loan in capitec. But to me, that is not aproblem because i'm working.
As you have just said, if you have a job from which you get a salary high enough, there will probably not be a trouble on Capitec granting you a second loan. All the same, you need to go across the loan application for the bank to review your information before deciding the loan terms you qualify for.

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Rating: 5
Comment: Excellent bank. I love the way they treat me.
Rating: 5
Comment: Their interest rates are not the best but the eligibility process is not strict.
Rating: 3
Comment: I know many people who have had issues with Capitec.
Rating: 4
Comment: Capitec bank finance is fair, honest, flexible, easy, professional & clear
Rating: 5
Comment: 5
Rating: 5
Comment: If you need a solution. That's the best bank ever. My capitec bank
Rating: 5
Comment: Very helpfull as always
Rating: 5
Comment: Always giving great service and excellent customer care
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Comment: Well undestood

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