Answer
Jul 04, 2023 - 06:35 AM
Hi there,
We believe 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. You need a credit score in order to finance a vehicle, there are plenty websites like ClearScore where you can check your credit score for free. 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 talking about credit scores here: https://www.autotrader.co.za/cars/new...
Your score of 630 is considered as fair but you'll be a subprime lender. The dealership will consider your appplication for finance though. You also use our finance calculator to see how much you can manage per month.
We hope this helps,
The AskAutoTrader Team
We believe 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. You need a credit score in order to finance a vehicle, there are plenty websites like ClearScore where you can check your credit score for free. 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 talking about credit scores here: https://www.autotrader.co.za/cars/new...
Your score of 630 is considered as fair but you'll be a subprime lender. The dealership will consider your appplication for finance though. You also use our finance calculator to see how much you can manage per month.
We hope this helps,
The AskAutoTrader Team
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