vehicle finance application

Requirements for vehicle finance application in South Africa

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It is easy and simple to finance your vehicle today. To simplify your life, just make sure that you have good credit score that allows you to purchase a car. Most car dealerships have partnered with BANKS for vehicle finance. When applying for car finance, the car dealer will select the car you want to buy. After this, they will apply for car finance on different banks. Whichever bank that approves first, the dealer will choose it.

Requirements for vehicle finance application

You will need the following documents when applying for car finance:

  • Your pay-slip
  • Identification Number (ID)
  • Driver’s License

Also, the bank will need you to list all your monthly expenses. However, even if you provide the above-mentioned documents, but if your credit score is very low, you will automatically be disapproved. If you prefer buying a car cash, you can do so and there won’t be a need to apply for any financial support.

Image Courtesy: imotoonline.co.za

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