Research and Statistics show that car ownership in South Africa is relatively low and there is considerable scope for further growth of private vehicle ownership and use. Current vehicle ownership stats in metropolitan areas in South Africa show 200 vehicles per 1000 persons. One business and banking giant working towards changing this picture is Bidvest bank.
Bidvest bank is one of South Africa’s biggest financial institutions. The many years of industry experience has given Bidvest the necessary insight into what the market needs when it comes to vehicle finance. It is for this reason that this bank introduced the personal vehicle finance solution.This vehicle finance is provided in three different options such as Instalment Sale Agreement, Finance Lease Agreement and Operating Rental.
Instalment Sale Agreement allows a customer to finance the vehicle over a period of up to 72 months. Vehicle ownership under this option passes automatically after the final payment has been made. Finance Lease Agreement is very useful if you finance the vehicle for less than 60 months, its ideal if you are a car allowance receiver paying a deposit or including a balloon payment in the finance plan. Operating Rental allows a client to lease the vehicle over a specified period of up to 60 months depending on monthly distance travelled.
To access this loan, Bidvest can be contacted on 0860111177.