The South African car market has many options in which one can drive a car:
Car finance
- Car finance installment sale
- Car finance with a balloon payment
These options only cover the repayment on the cost of the vehicle and the driver still has to pay for maintenance and insurance.
In South Africa the car finance banks are:
- Wesbank
- ABSA vehicle finance.
- Standard bank vehicle finance.
You can also do car financing through a car dealership like:
- VW finance
- BMW finance
- Toyota finance
- Renault finance
- Suzuki finance
For blacklisted clients or those who don’t have good credit ratings, there is the rent 2 buy cars and the rent 2 own cars, these options tend to be more expensive and require large deposits and fixed terms and contract period.
The fastest-growing section of the South African car finance landscape are:
- Car leasing | Credit Check Required
- Long term car rentals | Require Credit Card
- Car Subscription Services Drivve | Affordability Check Only
Car leases, Long term car rentals & car subscription packages may include:
- Car insurance
- Car maintenance
- Car roadside assistance
- Car tracker
- Car licensing
Long-term car rental tends to be the most flexible but more expensive and while car leasing is cheaper however one is tied into a 24-48 month contract, car subscription gives the best of both worlds by giving cheaper like a lease but flexible like a rental.
