Getting from A to B in South Africa, if you don’t have your own car, is a challenge. Even if you live close to a Gautrain station, Taxi rank or close to work, it is far more convenient to have immediate access to transport. Here are the top three ways to obtain finance for your own car in South Africa:
1.Vehicle Financing Loan from a Bank
The most obvious solution is to go to a bank and get vehicle financing. The drawback to this is that banks do charge high interest rates. And, if you don’t have a good credit history, they could deny your application. The benefit of this approach is that you can apply for vehicle finance directly from a number of car dealerships who will guide you through the entire application.
2.Finance Your Car Through Your Home Mortgage
It’s a well-known fact that banks charge a lower interest rate on home loans. If you have paid off a significant portion of your home loan and you do have an access bond, you can use the money that is available on your mortgage, to buy your car. That way, you will be paying a lower interest rate on your car.
Rent-to-own car financing deals are the ideal solution for people who want to avoid taking on debt or paying high interest rates to the bank. At Earn-a-Car, you can get same-day approval and pay a monthly instalment until you own your car.
Need more information about easy vehicle finance in SA? Then contact us today.