Used Car Finance Guide South Africa
Understand deposits, interest, balloon payments and affordability before financing a used vehicle.
Compare the total cost
Ask for the interest rate, initiation and monthly fees, term, deposit and total amount repayable.
Know balloon-payment risk
A balloon lowers instalments but leaves a large final amount and usually increases total interest.
Prepare your application
Keep identity, address, income and bank documents ready and check the quotation before accepting.