Important disclosure

WesBank Vehicle Finance

Wesbank offer various vehicle finance. Our easy to use loan calculator can help you to compare your loan options.

Go ahead and input the loan amount that you are considering for vehicle finance then use adjust the loan term. Once you click calculate, you will then get an idea of what your expected monthly repayment will be. Go ahead and give it a try it.

Calculate repayments

Calculate your affordability and apply for the loan you need for a new or pre-owned car, motorbike, boat, caravan or microlight.

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR200,000

Minimum term (months)12 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)10.25%

Vehicle finance APR10.25%

Monthly repayments (approx)R2,208

Total repayments (approx)R132,480

Total interest repayments (approx)R32,480

Rate typeFixed

Secured or unsecuredSecured

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesNo

SponsoredNo

Telephone0860 123 000

Data accurate as of18.01.2020

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Hide info -

Get a principal decision within 24 hours if all necessary documents have been provided.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)240 months

Vehicle Finance interest rates (base)12.25%

Vehicle finance APR12.25%

Monthly repayments (approx)R2,295

Total repayments (approx)R137,700

Total interest repayments (approx)R37,700

Rate typeFixed

Secured or unsecuredSecured

GO TO Mercantile Bank

Other Fees & Information

Monthly feeR57.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 11 99 25

Data accurate as of18.01.2020

Minimum monthly incomeUnknown

GO TO Mercantile Bank

Hide info -

Experience the joy of owning your car while you are paying it off with our flexible instalment sale agreement. Own the vehicle while you are paying it off. Reduce your monthly payments by choosing a balloon payment or by paying a deposit. Choose a monthly repayment from 24 - 72 months. Fixed or variable interest rates available

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

What Dealership Finance offers: A tailor-made vehicle finance solution. Choice of fixed or variable rate. A reasonable balloon payment or residual value to match your agreement choice. What this allows you to do: Buy a vehicle from a dealership. Buy a vehicle up to 10 years old. Finance a vehicle for at least R30 000 after deposit.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)9.00%

Vehicle finance APR9.00%

Monthly repayments (approx)R2,146

Total repayments (approx)R128,760

Total interest repayments (approx)R28,760

Rate typeFixed

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

Hide info -

Buy or sell a vehicle privately. Finance a vehicle up to 20 years old. Finance a vehicle for at least R30 000 after deposit. Retrenchment Policy: Pays up to 9 monthly instalments when you are involuntarily retrenched and remain unemployed. Courtesy Car Policy: Pays for the use of a courtesy car for up to 21 days if your car is stolen, written off or damaged. The interest rate is tailor made to suit you. Within 30 minutes you'll get an answer on the outcome of your application.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)9.00%

Vehicle finance APR9.00%

Monthly repayments (approx)R2,146

Total repayments (approx)R128,760

Total interest repayments (approx)R28,760

Rate typeFixed

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

Hide info -

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.

Overview

Initiation feeR1,207.50

Minimum loan amountR40,000

Maximum loan amountR250,000

Minimum term (months)6 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)10.00%

Vehicle finance APR10.00%

Monthly repayments (approx)R2,195

Total repayments (approx)R131,700

Total interest repayments (approx)R31,700

Rate typeFixed

Secured or unsecuredSecured

GO TO Nedbank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 103 582

Data accurate as of18.01.2020

Minimum monthly incomeR5,000

GO TO Nedbank

Hide info -

Calculate your affordability and apply for the loan you need for a new or pre-owned car, motorbike, boat, caravan or microlight.

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR200,000

Minimum term (months)12 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)10.25%

Vehicle finance APR10.25%

Monthly repayments (approx)R2,208

Total repayments (approx)R132,480

Total interest repayments (approx)R32,480

Rate typeFixed

Secured or unsecuredSecured

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesNo

SponsoredNo

Telephone0860 123 000

Data accurate as of18.01.2020

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Hide info -

Get a principal decision within 24 hours if all necessary documents have been provided.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)240 months

Vehicle Finance interest rates (base)12.25%

Vehicle finance APR12.25%

Monthly repayments (approx)R2,295

Total repayments (approx)R137,700

Total interest repayments (approx)R37,700

Rate typeFixed

Secured or unsecuredSecured

GO TO Mercantile Bank

Other Fees & Information

Monthly feeR57.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 11 99 25

Data accurate as of18.01.2020

Minimum monthly incomeUnknown

GO TO Mercantile Bank

Hide info -

Finance your new or used leisure vehicle such as classic car, motorbike, boat or caravan. Finance to buy a leisure vehicle from a dealership. You have a choice of Fixed or Variable interest rates. Courtesy Car Policy: Pays for the use of a courtesy car for up to 21 days if your car is stolen, written off or damaged. The interest rate is tailor made to suit you. Within 30 minutes you'll get an answer on the outcome of your application.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed or Variable

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

Hide info -

Low deposit requirement. No monthly admin fees. Competitive pricing. Annual lump sum option available. Option of fixed or variable repayments. Up to 72 months.

Overview

Initiation feeR1,207.50

Minimum loan amountR20,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Albaraka Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 225 786

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Albaraka Bank

Hide info -

Experience the joy of owning your car while you are paying it off with our flexible instalment sale agreement. Own the vehicle while you are paying it off. Reduce your monthly payments by choosing a balloon payment or by paying a deposit. Choose a monthly repayment from 24 - 72 months. Fixed or variable interest rates available

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

Islamic Vehicle Finance will ensure that you get the vehicle you want, whether it is for business or personal use, in a fully Shari'ah-compliant manner. Using the concept of Ijaarah, which is similar to leasing, you can enjoy access to a vehicle for a fixed period and price. This approach is Shari'ah-compliant and allows you to benefit from unique advantages, such as 100% financing and tax benefits. Variable and fixed rental fees for the duration of the lease. Flexible payment options to reduce your monthly rental fee

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed or Variable

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

With our car lease agreement you can get the car you really want and you have the option of upgrading to a new car more often. You decide whether you want to buy the car at the end of the finance period. Lower, more affordable monthly payments. Lower or even no deposit. Full use of the car for the lease period without the hassle of ownership. You can drive a brand new car every 2 - 4 years. Maintenance costs are fixed. Reduced monthly payments by choosing a balloon payment or paying a deposit. It’s mandatory to have insurance to get vehicle finance. The fixed monthly payments are tax-deductible if you are VAT registered.

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

If you opt for a rental agreement you have full use of your vehicle without ever owning it. You will get: Full use of the vehicle or any other asset without the hassle of ownership, drive an expensive vehicle or asset without having to buy it , only pay for the use of the vehicle or other asset. It is an option to manage cash flow , affordable, fixed monthly payment, repayment period of up to 72 months. The choice of lower monthly repayments by opting to make a balloon payment at the end of the rental period

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

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What type of car loan are you looking for?

How to get onboard with Wesbank vehicle finance in SA

If you’re shopping around for a car, Wesbank, a division of FirstRand Bank, is available for all your car loan financing needs. Car prices in South Africa are not always affordable, but that shouldn’t stop you from driving the car of your dreams. In this article, we at CompareLoans.co.za are dedicated to bringing you the best information about Wesbank vehicle finance. We outline, in simple terms, what you should know about Wesbank car finance and how you can get the best deal by making a Wesbank car finance application.

How to make a Wesbank car finance application

How does Wesbank vehicle finance work? Follow these five steps to get a good idea:

  1. First, make sure you meet the Wesbank car finance requirements. These are listed in the next section.
  2. Decide on the rand amount you wish to borrow and use the loan calculator on this page to calculate the monthly repayments you can afford.
  3. Find a car you’re interested in buying and which fits your budget. Next, apply for a Wesbank car loan. You can begin the online application process by clicking the Wesbank “Go to Site” button in the comparison tables above.
  4. After your Wesbank car finance application is approved, you sign the contract. Next, Wesbank pays the price of the vehicle, after which you can drive your car home.
  5. You start paying back the loan by making monthly instalments as agreed in your loan contract.

Wesbank car finance requirements

As one of the biggest vehicle finance providers in South Africa, Wesbank has a fast and easy application process. However, before you can apply, you must make sure you qualify for their loans. Wesbank car finance requirements are as follows:

  • Have South African citizenship or a valid permit to live in South Africa;
  • Be a holder of a valid South African or International driver’s licence;
  • Have a clear credit record;
  • You must be earning R7500 or more per month; and
  • Be 18 years or older.

The required documents for your vehicle finance application

  • A copy of your valid South African Identity Document;
  • Proof of residence such as a council or utility bill (not older than 3 months);
  • 3 months bank statements; and
  • Proof of income (your recent payslip).

Requirements for the vehicle you’re buying

  • The loan amount should be more than R30 000. If you’re buying a bike or motorcycle, the amount should be more than R10 000;
  • The vehicle’s age must not be more than 20 years;
  • You must buy from an approved car dealership or Wesbank/Burchmores auction; and
  • If you’re choosing to buy from a private seller, the car should not be rebuilt, built-up, stolen, or recovered.

What happens after you submit your application with Wesbank?

With Wesbank vehicle finance, apply online and wait while Wesbank verifies your personal details and checks your credit history. If you pass the affordability assessment and have a healthy credit record, then Wesbank will  approve your application and get in touch within minutes.

If the seller requires a deposit, you will have to pay it first before signing the loan contract. Wesbank then pays the seller the loan amount so you can collect your car or have it delivered.

How does the Wesbank vehicle finance calculator work?

You can use the Wesbank vehicle repayment calculator on this page to calculate the monthly repayments for your car loan. It’s simple and easy to use. As long as you know the loan amount and term you want, you can get a result that helps you to know the loan you can afford. Find out more about the Wesbank vehicle finance calculator here.

With Wesbank, you can apply for the following types of loans:

  • Loan to buy a car, bakkie, van, or minibus – You can buy any of these vehicles from an approved dealership or through a private sale.
  • Loan to buy a scooter or motorcycle – Wesbank will finance your new or used bike. This covers all types of on-road or off-road motorcycles.
  • Finance to buy a jet ski, caravan, quad bike, boat, golf cart, or trailer – You can buy from a private seller or an authorised leisure dealer. This specialist finance covers leisure vehicles that are not for everyday use.
  • Personal loan – You can use a personal loan for any purpose, including buying a car.
  • Islamic finance – You can get finance that is Shar’iah-compliant for a car, bakkie, motorbike, jet ski, trailer, caravan, or other approved vehicle.
  • Balloon refinance – If you already have a vehicle loan with a balloon payment, you can take out another loan at the end of the loan agreement to cover the balloon payment.

What is a balloon payment?

A balloon payment is an option you can attach to the end of your loan. In this case, you pay a lump sum of money at the end of your loan agreement. If you choose a vehicle loan with a balloon payment, Wesbank gives you three options to cover the cost:

  • Once-off payment: If you can afford it, simply make the payment all at once.
  • Trade-in: You can trade-in your car to cover the balloon payment.
  • Refinance: You apply for a new loan to cover your balloon payment. Next, you start repaying this new loan in monthly instalments.

What is the difference between an instalment and a lease agreement?

In an instalment agreement, you choose the vehicle you want, and Wesbank pays for it. Next, you get to drive your car while making monthly repayments to Wesbank. Once you finish all the necessary payments, the car officially belongs to you.

However, with a lease agreement, you rent the car over an agreed period. During this period, you pay monthly instalments to cover rental. At the end of the loan, you can either purchase the car, give it back, or renew the lease.

What is the Wesbank car finance interest rate?

The Wesbank car finance interest rate you get will always be in line with the maximum interest rate set by the National Credit Act (NCA). The exact rate depends on your credit rating, financial situation, and other existing debt.

Does Wesbank offer fixed or linked interest rates?

You can either choose a fixed or linked interest rate for your vehicle loan. Fixed interest rates remain the same as long as you’re paying off the loan. That means your monthly repayments will not change. However, a linked rate can either go up or down, depending on the market rate. As a result, your car loan monthly repayment will also fluctuate.

More questions and answers about Wesbank finance

What are the approved Wesbank dealerships?

Wesbank will approve your application if you buy from the following franchise dealerships:

  • Audi
  • Toyota / Lexus
  • Volkswagen

What is Wesbank private sale finance?

This is when you buy from a private seller (family member, individual, business, or a friend). After you apply for the vehicle loan, Wesbank can arrange for a roadworthy and inspection check on the vehicle. This gives you peace of mind from knowing that the vehicle is in good condition.

What is Wesbank graduate finance?

This loan type caters to new graduates who want to buy a new or used car but have no credit history.

What is Wesbank business asset finance?

Wesbank business asset finance can help you buy or lease commercial and passenger vehicles, as well as equipment and other assets for your business.

What are other fees for Wesbank vehicle finance?

Generally, you can expect an initiation fee of R1207.50 and a monthly service fee of R69. Please note, other fees may also apply.

Does Wesbank provide vehicle insurance?

Yes. Wesbank offers comprehensive insurance that will cover your payment in the event of an accident or damage caused by special circumstances.

Can Wesbank help me buy a vehicle from an auction?

Besides a dealership or private seller, you can also get your loan application approved if you’re buying a Wesbank auction car.

About Wesbank

Wesbank is the top finance provider in South Africa for all your asset-based needs. This authorised financial institution has been in the game for more than 40 years, and as a division of FirstRand Bank is trusted and a fully registered credit provider. From what we have outlined in this article Wesbank, has the experience to offer you personalised vehicle finance you can trust.

If you are interested in making a Wesbank car finance car application, click the “Go to Site” button on this page and start your car journey with Wesbank today.

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