Answer
Jan 26, 2023 - 02:42 AM
Hi there,
You will need a valid driver's license to finance a car. This is because finance houses will require the vehicle to be insured for the entire financing period to ensure that they will be able to get their money back if anything happened to the vehicle like an accident or theft. The minimum amount to qualify for finance would be R6500. However this also depends on variables like the cost of the vehicle, how big your deposit is, your credit score and which finance house in mind would be willing to give you finance. You'll have to see if you're able to qualify with your finance house of choice. Depending your credit score and cost of the vehicle will in this instance, determine if a finance house would be willing to give you vehicle finance. We have an article here talking about credit score: https://www.autotrader.co.za/cars/new...
We hope this helps,
The AskAutoTrader Team
You will need a valid driver's license to finance a car. This is because finance houses will require the vehicle to be insured for the entire financing period to ensure that they will be able to get their money back if anything happened to the vehicle like an accident or theft. The minimum amount to qualify for finance would be R6500. However this also depends on variables like the cost of the vehicle, how big your deposit is, your credit score and which finance house in mind would be willing to give you finance. You'll have to see if you're able to qualify with your finance house of choice. Depending your credit score and cost of the vehicle will in this instance, determine if a finance house would be willing to give you vehicle finance. We have an article here talking about credit score: https://www.autotrader.co.za/cars/new...
We hope this helps,
The AskAutoTrader Team
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