January 16, 2018

Vehicle Loans: Accessible and Convenient Finance

vehicle loans provide convenient accessibility to quick finance when shopping for that much needed car. whether you’re buying your first car for work, or another larger family car, it is important that you pay particular attention to certain guidelines before and during the purchasing process.

the first step is to know your credit status before even setting foot into your preferred dealership. being cognisant of your credit rating gives you foresight into the probability of success in your finance application, and can help you narrow down your financing options when it comes to vehicle loans. avoid an unnecessary rejection as this will further dampen your credit history. rather consult with an experienced credit facilitator if your feel your credit record has been compromised as there are some blacklisted options to consider exploring.

a good practice is to request a copy of your credit report prior to any formal application for vehicle loans. it is possible to request 1 free copy per year with some online resources; others are paid for options, but the fee is nominal. should there be an erroneous credit blemish on your name – which does happen from time to time – and you’re unaware of it when applying for credit, it can cost you your dream car! by being warned before hand, you can take steps to rectify the mistake and improve your chances of your chosen car being successfully financed. alternatively it may be that an old listing, that should have been removed, is still reflecting as unpaid; this too would need to be addressed first.

take advantage of the benefits of online shopping whether you’re looking to purchase a new car or a pre-owned one. before applying for vehicle loans, it is highly recommended that you compare current retail prices, features and specifications of a range of car models that suit your budget and other requirements. while shopping around you should always keep in mind what you are going to use the car for. this helps in narrowing down your options making the selection easier and saving you time.

you should also keep in mind what it is you are paying for. it is not just the initial price of the vehicle that you will need to consider. you need to take note of financing costs, other important numbers such as service or ancillary fees, insurance, possible rust-proofing, extended warranties, maintenance and service plans, among other costs.

buying a vehicle in south africa is a major investment, so investigating the financial institution and the structure of your loan makes good sense. shopping around for vehicle loans may not excite the senses as much as shopping for that car, but the time and effort ensures there are no regrets!

contact approved for specialised assistance with the best vehicle financing options on the market. you are assured of professional, friendly service from a reputable facilitator!




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