What are the minimum requirements to apply for vehicle finance?

The minimum requirements to apply for vehicle finance are as follows: 

  • Driver’s license

valid driver’s license is required to apply for vehicle finance. However, it is possible to nominate a parent or spouse you live with as the driver to proceed further.

 

  • Employment 

You need to be permanently employed or self-employed, earning a minimum of R6500 pm before any deductions.

 

  • Credit profile

You cannot be blacklisted or under debt review. We confirm this by means of a free credit check.

 

  • ­­­­Residence

You would need to have a valid RSA ID, or it would depend on the validity of your work permit and passport.