Compare car loans and car finance in Durban – South Africa
Find out about car loans in Durban and facilitate a car purchase that gets you rolling smoothly from point A to B.
Where to find car finance in Durban
At CompareLoans, we walk you through the available car loan options in South Africa. Our comparison tables above and our list of popular vehicle lenders will help you find the loan you need quickly, easily, and conveniently.
How much can you borrow and for how long?
- Car loan amounts range from R10 000 to R300 000, depending on the lender, the type of vehicle, and whether it’s new or used.
- Loan terms are from 12 months to a maximum of 72 months or 84 months.
Secured car finance vs. Unsecured car finance
Secured car loans give the lender legal rights to claim the car if they don’t receive repayments from you. Unsecured car loans require no collateral, but they may have higher interest rates, and you must have a good credit score to qualify.
Variable-rate car finance vs. Fixed-rate car finance
The cost of borrowing a car loan is your interest rate which could be variable or fixed. A variable rate is affected by the market rate, and it may go up and down. A fixed-rate, on the other hand, is always the same rate from the start until you finish repayments.
Types of vehicle finance in Durban
Most South African vehicle finance lenders offer the following car loans options:
- Instalment sale. You buy your dream car and pay for it in monthly instalments.
- Financial lease. You lease or rent the car and then choose if you want to buy it after the lease expires.
What type of vehicle can you finance in Durban?
Tips for choosing the best car finance for you
- Check fees and charges. When comparing loans look for low-interest car loans that also have fewer charges and fees. Also, check if the lender requires a deposit or a balloon payment (this is a lump sum paid at the end of the car loan).
- Try our car finance calculator. Our car finance calculator helps you choose the best monthly instalment for your loan. Use the sliders to select your loan amount and term. Next, click calculate and check for the results in the comparison tables.
Blacklisted car finance in Durban
You can apply for blacklisted vehicle finance in Durban if you have a bad credit score. Finance for blacklisted clients typically comes with high-interest rates if your application is approved.
General requirements for applying
You must be 18 years and older while earning a regular, monthly income. The following documents are also required:
- Valid driver’s licence;
- Purchase agreement from your seller;
- Bank statements and payslips; and
- Proof of payment.
How to apply
- In the comparison tables above, click “Go to Site” for the lender of your choice.
- Visit their website and apply by filling in the application form and uploading documents.
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