Cars are expensive assets, and getting your dream wheels without some kind of finance is often just that… a dream. Nowadays, with the capabilities of the internet you can get online vehicle finance to help you buy a car. Getting finance online means that you often don’t even have to leave the comfort of your own home to get your hands on the money you need to buy the set of wheels you’re after. With more and more of our lives being conducted online, vehicle finance solutions have not been left out of these convenient technologies.
Am I eligible for vehicle financing?
To qualify for online car loans you need to:
- Have a valid South African driver’s licence
- Be a South African citizen
- You must be permanently employed
- You must have a clear credit record
- You must earn over R6500 per month
What documents will I need?
Although some lending institutions may require different documentation, the most common documents you will need for individual application are:
- A valid copy of your identification document.
- A valid copy of your driver’s licence
- Three of your most recent bank statements
- Your most recent payslip
- A document showing proof of your residential address. This document cannot be older than three months.
For business applications, the company will need:
- Stamped 6 months of bank statements
- The last 6 months of financial statements
- Proof of the business address (not older than 3 months)
- CK documents.
Where can I get online vehicle finance?
There are a number of lending institutions that offer convenient and quick online vehicle finance.
- Carfin (http://www.carfin.co.za/) was the first independent company to specialise in financing the private-to-private car sales market. At Carfin, you can apply for vehicle finance online to get speedy access to the funds you need. The service is safe and easy and there are FAIS accredited managers on hand to advice you on your finance options and other products. To contact Carfin you can visit their website, or call them directly on 0861 227 346, fax on 086 675 7473, or email on info@carfin.co.za
- Vehicle Traders Financial Services (http://vehicletraders.co.za/vehicle-finance-for-used-cars-loans.html) will assist you in your online application for car finance. All you need to do is complete an online form and a car finance provider will be in touch with you shortly to guide you along the vehicle finance process.
- You don’t need to go private to get online vehicle finance to help you buy a car; many banks now also offer an online vehicle finance application option. Banks such as FNB, Standard Bank, Absa and Nedbank all provide a service that allows you to apply for car finance without actually going into the bank and visitng a broker. Visit their websites to find out more.
What services do online vehicle finance providers offer?
Although all online finance providers have a different company structure, some of the services you can expect from lending institutions include:
- National call centres with highly trained staff to help people around the country with any queries they may have.
- Fast and convenient application processes that are quick to complete and are preapproved in no time.
- A staff of business managers who can give advice over the telephone, meaning that you don’t have to move from your home to get the support you need.
- Many websites offer an online credit check to help you speed up the approval process if you have a clean credit history.
- Value added services such as the provision of vehicle insurance, warranties, and other such products.
- Negotiation services with private sales to get the buyer the best possible rates.
With all these services and more, you can see why more and more people are choosing the convenient option of online vehicle finance providers for car funding solutions.
You may also be interested in:
- Repossessed Vehicle Finance can be Applied for at most Bank Repo Auctions
- Vehicle Finance For Blacklisted
- FNB – Wesbank Vehicle Financing
- Nedbank Vehicle Finance Solutions
