Compare the best loans of South Africa and find the lowest rate
Are you searching for a way to finance the car you always wanted? Let me tell you you have arrived to the perfect spot for that. WesBank, one of the leading banking companies in your country, South Africa, has dedicated itself to giving loans to South Africans, and car loans are not the exception.
For that reason, in the following article you will get a lot of information about their main two car loans: loans for purchasing a car from a dealer and loans that allow clients to buy cars in a private way. You will be given details, phases and requirements in order to be granted these type of loans. Then, you will be given contact information of WesBank.
Loan for getting a car from a dealer
Phases or periods for this loan
First, you will need to fill in an online application, which will take no more than half an hour. This will allow you to get a quick reply from the bank´s professionals and if you are found eligible, the bank will get in touch with you in order to get all the data from the dealer you have selected.
Then, the moment the transaction with the dealer has stopped, the bank will make sure to give you the loan application and the appropriate contract to the dealer you have chosen. You should know at this instance, that your car will require an insurance in order to guarantee the maximum protection, so please bear that in mind. For instance, you can take a look at one of the most complete insurances offered by the bank, called Driva Cover, which is the typical Comprehensive Insurance offered by banks.
Now, lets focus on some important facts about this type of loan:
-Before applying for the loan make sure to think about it as thit is a very important decision you will make. Which is why you need to bear in mind which car do you want and how much you can afford to pay
-Apart from the vehicle´s price, you need to have in mind any other expense related to its fuel, repair, insurance and maintenance.
-Take into consideration the possibility of purchasing a gas guzzler, because it will be cheaper in the long term, but also bear in mind the fact that this type of fuel will be very damaging to the environment.
-You can also try to use Diesel with your car,which is really cheap in comparison to petrol, but in the long term it means your car will need to visit the mechanic very often
-Bear in mind what is the use you will give to the car. Consider if you will need air conditioning and how many miles you will need to make each day with your vehicle
-Obtain a complete insurance in order to prevent robbery, damages by nature and hijacking
What are the requirements for getting a car with a dealer?
-The dealer needs to be known by the bank and approved. Otherwise, you are not allowed to make a transaction with the dealer you have chosen
-The car you select needs to cost at least R 30,000
-You need to be at least 18 years old
-You need to prove you are permanently residing in South Africa
-You need to put forward a perfect credit score with another banking company.
-You need to submit a monthly income of at least R 6,250
Now, before focusing on the other loan, let me give you some tips about obtaining car loans with WesBank.
Firstly, you need to bear in mind that the transaction between you and the dealer includes any type of fees, so be willing to spend some money on that. Also fees for the registration of you and your car are included there. Secondly, WesBank professionals will get in touch with you in order to make sure every data is okay and to sign every document that the bank requests. In order to guarantee the maximum safety, you will receive in your phone or email the original document of the transaction. You can even receive it by fax. Thirdly, you will be asked by the bank to submit a copy of your Id or passport and you will need to acquire a license, which allows you to obtain protection by WesBank.
Loan for getting a private car
Phases for this loan:
First, you will need to complete the application you will find in the bank´s website and that will take half an hour or less than that. This will allow you to receive an instant reply from the banking company and let you know whether the application for the sale is approved or not. If it was approved, the bank will get in touch with the seller you chose, and this seller will need to make an inspection in order to make sure everything with your future vehicle is okay. Then, the seller and you need to put forward some documents. The list of documents needed will appear in the bank´s website. Finally, a bank professional will get in touch with you so that all the documents are signed and the process is finishes. The bank will of course pay to the seller you selected and make sure to register your car.
Here you have the requirements:
-You must choose a seller that is private in order to buy the car you want
-The car´s cost needs to be of around R 30,000 or more than that
-The vehicle should be of no more than 20 years
-It can not be a stolen car
-You need to be at least 18 years old and be living on a permanent basis in South Africa
-You need to possess a driving license and a good credit score with other company
You need to have a monthly income of at least R 6,250
Getting in touch with WesBank
You can go to their head office located in Randburg, at Enterprise Road 2170 or phone on 0861 288 272. It is available during weekdays from 08:00 am to 05:00 pm
You can send an email to the following address: firstname.lastname@example.org-