Buying a used car in South Africa is often a wiser financial decision (than purchasing a new one), but unless you’re paying cash, you’ll likely need a car loan. While financing a used car is common, it comes with risks – one of the biggest being the risk of becoming…
Tag: Financing Advice
Buying Advice
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Navigating rising used car prices in South Africa: A buyer’s guide
The South African used car market is experiencing an unprecedented shift, with vehicle prices steadily climbing and buyers finding it increasingly challenging to locate affordable options. According to recent industry reports, used car prices for vehicles older than one year have surged between 15.7% and 19.4% year-on-year, driven by a…
Financing Advice
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Understanding the consequences of loan defaults on your credit score
Despite the best intentions and efforts, it can sometimes be challenging to stay on top of financial commitments, especially with the rising cost of living impacting many South African households. As a trusted partner in vehicle finance, WesBank aims to ensure that car buyers are aware of how loan defaults…
Buying Advice
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Car finance vs. personal loans for buying used cars
With South Africa’s used car market booming in 2024, more buyers are exploring their financing options to find the best way to afford a reliable vehicle. Two popular choices for buying a used car are traditional car finance and personal loans, but which is the smarter move? Let’s dive into…
Buying Advice
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Rent-to-Own a used car in South Africa: Everything you need to know
Rent-to-own has become an increasingly popular option for South Africans looking to buy a used car, especially when traditional financing is out of reach. But what exactly does rent-to-own mean, and is it the right choice for you? Here’s an in-depth look at how rent-to-own works, its benefits and drawbacks,…
Buying Advice
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F&I Managers: Your guide to better deals at South African car dealerships
When buying a car, you’ll likely encounter an F&I (Finance and Insurance) manager at the dealership. But what exactly do they do, and how can they help you get a better deal? Here’s everything you need to know about the role of an F&I manager and why they’re a valuable…