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What Are the Advantages of Direct Axis Finance? Possible Quote, Requirements and Contact Details

Do you want to be on the road? Are you looking for a financing company that helps you with the process? Great! Direct Axis is a good option. It this article, we will show you how it is possible to get vehicle finance with outstanding South African companies, Direct Axis is only one of them. You will read about possible quotes, requirements and contact details so as you can get the money sooner than expected. We will also include some extra information about other company that work at your advtange.

Direct Axis Loans

It is important to know that Direct Axis doesn’t have a lending program exclusive destined to car financing. However, personal loans are designed to cover this need. In fact, you can borrow amounts of money that go from R5000 to R150 000. Based on the amount of money you ask and other factors –credit history, length of financing term-, you will be given an interest rate never higher than 28%. Such interests and principal can be return in financing periods that go from a minimum of two years to a maximum of six. Please bear in mind that you will also have to pay origination cost and monthly fees.

Quotes and Possible Payments

There follows some examples of approximate installments for you to have an idea of how financing work in real life:

-For a loan to buy a car of R80 000, there are many options available. If you choose the shortest financing term, and taking into account that you will pay 28% of interest rates, you will make 24 payments of near R4 891. If this quote is high for you, there is a program of 4 years. In this case, you will make 48 payments of approximately R3 264. Those who prefer ever longer periods, six years, will make 72 payments of near R2 2773.

-Let´s see now what happened for a vehicle of R120 000. With the maximum interest rates available -28%- and the shortest financing period -2 years-, monthly payments will be of approximately R7 266. In case you prefer a longer financing period -4 years-, monthly payments will be of R5 627. And clients who want even lower quotes can make up to 72 payments of R4 115.

                There is a list of certain requirements that you have to take into account to apply for a loan:

1. You have to the South African citizen older than 18 years. Please, bring a copy of your ID.

2. You also have to prove that you have good credit history: the higher the score, the lower the interest rates.

3. The minimum salary applicants have to earn is R5 000.

4. It is necessary you bring your last 3 pay slips to prove steady incomes.



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5. You have to present the data of a bank account in which Direct Axis will deposit the many and set automatic deduction for payments.

6. You will also have to show a proof of residence, an electricity bill, for example.

7. In case you are married, you will be required written spouse consent.

Where can I apply for a Direct Axis loan in person?

If you are interested in face to face attention to apply for a Direct Axis loan, you can go to an office in person. There is one located at 108 De Waal Rd in the area of Southfield. This office has its door open from Monday to Sunday from 8 a.m. to 8 p.m. You can also contact representatives by phone dialing 86 102 0304 in the same office hours.

                If you want to apply for Direct Axis loan from the comfort of your home, this is possible by phone or via online. Telephone assistance is offered dialing up 0861 020304. Besides, you also send a SMS to this number: 43232. The application process will start in some seconds. As far as internet is concerned, you visit the official webpage and click on “Apply online”. In ten minutes, you will have the money ready to use.

                Apart from Direct Axis, there are other banking companies that offer programs to finance vehicle purchase and they are the following:

-First National Bank: with this company’s financing, you can borrow money to buy vehicles either from a dealership or from a private party. In fact, there are amounts of R30000 that can be financed in up to 20 years. You can contact this company in person, for example, visiting the office located in the Bank City of Johannesburg. The address is 3, First Place and its doors are open from Monday to Friday from 8a.m. to 5.30p.m. and on Saturday from 8a.m. to 1p.m. For phone assistance, don’t hesitate to call 11 688 9900.

-African Bank: with African Bank you can resort to personal loans to finance vehicles. You can borrow amounts of money that go from R500 to R200 000. These programs have interest rates that range from 10% to 28% and term that go from 3 to 72 months. One office of this company can be found in the area of New Redruth, Alberton. The exact address is 50 Voortrekker Rd and representatives are available from Monday to Friday from 8.30a.m. to 5 p.m. and on Saturday from 9a.m. to 1 p.m. In the same hours you can also contact the branch by phone dialing up 11 724 0060.

                In a nutshell, having your own car is not a difficult task in South African. First, you can count on the financial support of Direct Axis, as you were looking for. But in case that Direct Axis doesn’t meet your expectations, there are other alternatives available, such as First National Bank and African Bank. Resort to the one that adapts you and get in your car!

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Questions and Answers

Which is the easiest method of payment?
You can set automatic deduction.
What is the advantage of fixed interest rates?
That your payments will be the same all the loan.
Are there many options of financing periods?
Yes, you can adopt length to our advantage.

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