Please see information below on Vehicle Loans.


Vehicle Loans

What is a Vehicle Loan?

For most people in South Africa a car or other vehicle can be an expensive purchase. A vehicle loan is a specialist loan offered by independent loan providers that help you finance the vehicle that you want.

Vehicle loans are a very popular alternative to the financial aid offered by most car dealerships. More often than not an independent lender can offer better interest rate and loan terms than a dealership might. However, to make sure you find the best deal you should use a comparison site like this to compare not only the main features of each product but also any added offers and benefits.

What types of Vehicle Loans are available?

Getting the right financing is important and there are many different types of vehicle loans on the market so it pays to shop around and find the right loan for you. Some of the types of vehicle loans available include:

  • Secured Loans The vehicle is put up as collateral against the loan
  • Personal /Unsecured Loan
  • Bad Credit Loan
  • Loans for all vehicle types: cars, motorcycles, marine vehicles etc.

What are the Benefits?

Depending on the loan provider you can set up a payment plan that suits your vehicle purchase. Another benefit is that with a vehicle loan you can take ownership of your desired vehicle straightaway. Online vehicle loans are easy to apply for and you can get fast approval so you can purchase your vehicle as soon as possible. As mentioned above there are lots of types of vehicle loans so most people's needs are well catered for.

Am I Eligible?

Most lenders will ask for your driving license, passport and proof of address before approving a loan. Age restrictions may also apply but this will depend on the lender you choose. In some cases a credit check might be carried out which could affect whether you are accepted. However, even with a poor credit rating you can still qualify for a vehicle loan although the exact amount you can borrow may depend on your credit history.


Please note that Which Way To Pay South Africa is not authorised to give personal financial advice under the South Africa financial regulations.

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