Nowadays there are various ways to buy a car. Using cash upfront is one way, but getting vehicle finance is by far the more popular option. While some people may opt for buying a car through a dealership, private vehicle finance is often a favoured option. This is mainly because a car buyer is able to get exactly the kind of car that they want.
Wesbank makes this process fairly simple.
How Wesbank Private Vehicle Finance works:
Car buyers complete an online application (which is a 20 minute process) and get an instant answer.
Once the application has been approved, Wesbank contacts the seller to agree to the sale. The seller is obliged to do a 101 point check on the vehicle as well as a roadworthy test.
Wesbank will ask you and the seller for the necessary documents.
The agreement is voice-logged, which is legally binding.
A Wesbank representative meets with you to complete the process.
Wesbank then pays the seller and takes care of your new vehicle’s registration.
The car must be sold by a private seller and must be less than 20 years old. The car must also be worth R30 000 or more and must not be a stolen or recovered car.
What are the qualifying criteria?
- Be at least 18 years old
- Be a South African citizen
- Have a valid driving licence
- Have a clear credit record
- Earn at least R6250 per month
How a typical Wesbank Private Vehicle Finance process works:
- Buyer and seller agree on terms of the sale
- Buyer applies for finance online or telephonically
- Once the finance is approved, documents are required
- The contract is then prepared
- TitleGuard contacts the seller with a list of requirements
- Documents must then be faxed or emailed to Wesbank
- The documents are verified
- The seller is paid
- The vehicle is registered by Wesbank
For more information about Wesbank Private Vehicle Finance, visit www.wesbank.co.za