Buying and financing a vehicle Buying and financing a vehicle   Buying and financing a vehicle is normally associated with unnecessary problems. To help make the process easier, follow the steps below. Step 1. How much can I afford to spend? The first question you need to ask yourself is how much you can afford to spend. This is important, as you should not over-commit yourself. Income - expenses = surplus * When calculating how much you can afford, it is important to include the insurance premium, as all vehicles financed by us have to be comprehensively insured. Step 2. Calculator Once you've determined how much you can afford, you can use our calculator to determine the monthly repayments on your "dream" vehicle. Step 3. Approved dealers Once you know how much you can afford to spend on a vehicle, you will need to find one in your price range. It is preferred that you buy your vehicle from one of our approved dealers. These dealers have agreements with us that protect you. Step 4. Private sales A "private" deal can be defined as "the sale of the goods not sold in the ordinary course of business by a dealer in those goods". We can finance private sales, however, the following conditions must be met: The buyer or seller must either be a Standard Bank current account holder or vehicle and asset finance customer of good standing Conclusive proof of ownership by the seller is required. This can be: A settlement letter from the financial institution where the vehicle is currently financed together with a copy of the vehicle registration documents reflecting the seller as the registered owner. A paid up letter from the financial institution that financed the vehicle confirming the full and final settlement amount, together with a copy of the vehicle registration documents reflecting the seller as the registered owner. A certified copy of the initial invoice and receipt as well as a cancelled cheque and a bank statement as proof of full and final payment to the dealer, together with a copy of the vehicle registration documents reflecting the seller as the registered owner. If we enter into a private deal with you there will be charges which will be explained to you by a consultant In all of the above instances, we should be able to identify the vehicle by its engine, chassis and registration number. Step 5. Applying for finance There are different ways of applying for finance, including: Filling in our online application form Use our pre-approved finance facility. With pre-approved finance, you can shop with confidence knowing the amount of finance that is available for you. Phoning our call centre on 0860 000 000 Applying at any of our approved dealers. Step 6. The financing process Now that you have found your dream vehicle and the finance has been approved, the process is as follows: You sign an offer to purchase the vehicle with the dealer; this will confirm you intend buying the vehicle. The dealer will finalise the sale. The dealer will draw up an invoice and, in accordance with the offer to purchase, list the vehicle's details. The dealer will then fax the invoice to us. On receipt of the faxed invoice we will draw up the credit contract you will be required to sign. The contract will be drawn up according to the information you provided to us. When signing the contract you will be required to provide us with the following documents: Valid driver's licence Proof of comprehensive Insurance Proof of salary A utility bill (a water, electricity or Telkom account) indicating your physical address. A copy of your ID document Once you have signed the credit contract, we will provide you with an Authority to Release form to give to the salesperson who sold you the vehicle. This is the final document that you will have to sign. This document confirms that you have taken delivery of the vehicle and that we can pay the dealer. The only time that you will not be required to hand over the Authority to Release form is if you do not take delivery of the vehicle.   Conditions of access | Disclaimer | Privacy and security statement