Online Vehicle Finance Application Processes

Applying for vehicle finance is a process no longer regarded as lengthy, tedious, or time-consuming. Nowadays there are numerous quick online vehicle finance application processes available for use by consumers. This usually means that you don’t have to deal with long queues and can simply apply within the comfort of your own home or without even having to leave the office.

Whether you need a new or used vehicle, there are various lending institutions that provide fast and efficient ways to apply online. In addition, some lenders, like Absa bank, may also provide finance for movable assets including caravans, trailers, boats and bikes.

By filling in a pre-qualification form the lender you are approaching for finance is able to calculate your affordability.

• Should your pre-qualification indicate that you are able to afford repayments comfortably; the lender will continue to process your application.

Your next step will be to then find a car finance option that suits you as well as your needs.

• This step means that you will consider options that will be ideal for your financial standing. You will consider how much you will need to loan as well as repayment terms.

You can then work out your installment.

• This vital step will indicate exactly how much you can expect to repay to the lender on a monthly basis. This figure will include all fees and interest charged.

Provide the lender with your I.D. copy, a copy of your drivers’ licence, proof of income and proof of residence (no older than two months.)

• These documents are required for credit check purposes as well as to have your contact details on hand and to verify any previous criminal transgressions.