Amounts: Min is R 25 000 and Max is unlimited. Based on affordability
Speed of Funding: 24 hours
Interest Rates: Varies and can be fixed or linked to prime interest rate
Terms: 24 - 72 months
What is Vehicle Finance?
Vehicle finance is a form of secured loan. It is the payment of a lump sum of money set off against an asset(vehicle) that would be repayable over a predetermined period of months against an agreed percentage interest rate. If you decide to take vehicle finance, you will be required to pay back a set amount of money per month (including interest) until the total loan (including interest) is repaid.
Types of Vehicle Finance
In this instance, the bank will hold the title (ownership) of the vehicle until the vehicle is paid for in full. Once the full payment has been made the vehicle ownership will be transferred from the bank to your name. This can include fleet finance, personal vehicle finance etc.
Rent to own
Rent-to-own, also known as rental-purchase or Rent-To-Buy, is a type of legally documented transaction under which a vehicle is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement.