Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.
Plan ahead with the Wesbank vehicle finance calculator
Wesbank vehicle finance gives you a specialised loan to buy your brand new or used car from an authorised dealer, private seller, or an auction. However, before you make your Wesbank car finance application at CompareLoans, we recommend using our easy-to-use and fast Wesbank car finance calculator. In addition to giving you important information about Wesbank car finance, we also give you this useful tool to help you calculate your monthly repayments.
Read on and find out how you can use this calculator to smartly prepare for a loan application you can afford.
How to use the Wesbank vehicle finance repayment calculator
When you make your loan application, you have to choose the loan amount you want to borrow. The next part after borrowing involves paying back the loan, and that’s where the Wesbank car loan calculator comes in. By following these 4 steps, you can use the calculator to help you calculate the best way to repay the loan:
- Choose your car loan amount: Input the amount you want to borrow using the first slider or by typing into the correct field.
- Choose your loan term: Input the number of months you need to pay back the loan using the second slider or by typing into the correct field.
- Click “Calculate Repayment”: This gives you instant results of your estimated monthly repayments for the amount and term you have chosen.
- Try it until you get the best results: If the monthly repayment amount is too low or too high, repeat the steps until you find a result that works for you.
Please note: the rates quoted on this page are guidelines only, and should not be treated as financial advice. Wesbank will adjust the interest rate according to your personal situation.
Does the Wesbank finance calculator help you with the application process?
Knowing your monthly repayment amount can help you during the following steps as you apply for credit with Wesbank, a division of FirstRand Bank ltd.:
- Meeting Wesbank car finance requirements: One of the important requirements is to apply for a loan you can afford. Therefore, the loan calculator helps you determine which monthly instalments fit into your budget according to your monthly income and expenses.
- Decide on the loan amount you wish to borrow: This amount should be something you can afford to pay back. The results from our loan calculator let you know if the loan amount you have picked is affordable.
- Shopping around for a suitable automobile: Once the loan calculator gives you an affordable result, you’re ready to confidently shop for the best set of wheels in your price range.
- Making the Wesbank car finance application: By applying for a loan you can afford, you increase the chances of getting your application approved.
- Signing the contract: You start repaying the loan via monthly instalments as agreed in your loan contract. Because you used the Wesbank car finance calculator to choose affordable monthly repayments, this will be a relatively comfortable process.
Can the Wesbank car finance repayment calculator help to improve credit score?
In South Africa, a good credit score comes with many advantages, including easy approval on all your vehicle finance loan applications and lower interest rates on the loan you get. One common and effective way of improving your credit rating is to pay all your debts on time. That means paying for your motor loan monthly instalments before or on the due date until you finish repaying off the loan.
When you use the Wesbank vehicle finance repayment calculator, you can choose an affordable monthly repayment amount that is within your budget. You will then be able to make repayments on time without struggling, and this works as a long term strategy to improve your credit score.
Wesbank vehicle finance: A quick overview
How much can you borrow?
Loan amount starts at R10 000 depending on the type of vehicle you want to buy.
What is the loan term range?
Payment terms start from 12 months and go up to 96 months.
What type of car can I buy?
You can use the loan to purchase a new or used car, van, minibus, bakkie, minibus, motorcycle, or leisure vehicle.
Where can I buy a car?
From Wesbank approved dealerships and auctions or a private seller.
What about the condition of the car?
The ride should not be older than 20 years (unless it’s vintage). It should also not be stolen, rebuilt, or recovered.
Can I apply online?
Yes. After using the Wesbank car loan calculator, click the “Go to Site” button next to the Wesbank vehicle finance option. This allows you to visit their website where you can start the online loan application.
What are the basic requirements?
- South African ID;
- South African or International Driver’s licence;
- Minimum salary of R7 500;
- Copies of your payslips and bank statements;
- Proof of residence;
- A good credit record; and
- Minimum age of 18 years.
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