If you’re in the market for a major purchase like a car, you may well need to take out a loan to cover the cost. Personal loans and car loans are two of the most common financing options. Assuming you meet their respective lending requirements, they can be relatively easy to obtain.
So what’s the difference between the two? A personal loan can be used for many different purposes, including buying a car, whereas a car loan (as the name implies) is strictly to purchase a vehicle.
Are you in the market for a vehicle between R40 000 and R250 000? We provide a loan for vehicles up to 20 years old* at accredited dealers countrywide.
What Our Car Loan offer?
- A loan to purchase vehicles up to 20 years old*, between R40 000 up to R250 000.
- We offer flexible repayment periods; depending on the loan amount, from 6 up to 72 months.
What you need to obtain a car loan
- SA identity document or ID card.
- Proof of current residential address (for FICA purposes)
- Marital status declaration
- Latest payslip
- Three months bank statement
- An income and expenditure statement