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Vehicle finance is one of the vital areas of the finance field, where the financiers partner with car dealers and manufacturers to improve the transportation of goods, services and people to keep a high flow of economic activities.

About – Wesbank

Vehicle finance represents several credit facilities and quick easy loans that are meant to fund the acquiring of vehicles by both individuals and corporate buyers. Over the years, the method of vehicle payment with balloon has joined the long list of services like hire purchase, installment with a deposit, leases, and general installment.

These coordinate to improve the transport system of any nation by lessening the financial gap between the buyer’s funds and the trader’s selling price.

Vehicle finance has existed as a secured credit facility, as many manufacturers and finance providers do it. The facility is, in most cases secured by the car under purchase, which makes the credit facility relatively low risk as compared to unsecured credit. With that, vehicle finance will always have low-interest rates if one looks to compare it with other forms of loans.

Westbank Finance has played a significant role in the development and evolution of vehicle finance in South Africa. From being known as a specialist bank for lending, the company has partnered with a large number of vehicle dealers, manufacturers and other financiers to provide the best vehicle finance solutions.

Wesbank has facilitated a large number of South Africans to obtain finance for their new or old vehicles. This could have happened directly with our bank or indirectly through our agents, subsidiaries, partner car dealers and manufacturers. Up to date, Wesbank is known for its reliable vehicle finance services that always come as a package with vehicle insurance and warranties.

That means the concept of vehicle finance in South Africa will be incomplete. When Wesbank is not mentioned, and this shows how important we prioritised vehicle finance for the betterment of your living standards.

As a company that cares and understands the needs of South Africans, as far as financial solutions are concerned, we have designed a more extensive range of products that are meant to bring immediate answers to your shortfalls.

Wesbank have the following form of vehicle finance solutions in stock

Wesbank hire purchase

The hire purchase form of vehicle finance takes place when one enters into a contract to start making monthly installments for buying a car of their choice.

The car will be in their hands for the whole term of repayment, but they will not be allowed to change the ownership of the vehicle. Also, unless they finish repaying the amount needed to offset the price of the car.

The hire purchase vehicle finance option will allow one to use the car for any of their needs. In some cases, there might be a limit on the distance to be covered every month. The hire purchase will come with a fully comprehensive insurance cover and guarantee for certain distance, say 100 000 kilometres.

Rent to buy with wesbank

Vehicle finance is also issued in the form of rent to buy, rent to buy option is similar to hire purchase payment in the sense that the car owners will only be transferred to the buyer after the last installment has been paid.

The rent to buy option have slightly smaller monthly contribution than higher purchase, however under the lease to purchase option one will be given a right (not an obligation) to choose to buy or leave the car at the end of the term.

When one wants to buy the car, the price would be significantly reduced on the condition that the buyer has been renting the car, that’s clients will be required to make another monetary contribution to acquire the vehicle.

Leasing with wesbank

The lease method of vehicle financing requires the client to make a lease agreement with the lessor. The lessee will have an obligation to make monthly contributions (lease payments) in return for the use of the car.

Under this method, there is no requirement of change of ownership as there is no buying that takes place. The owner of the car will have an obligation of making physical maintenance and permanent changes to the vehicle.

The best advantage offered by lease finance is that the installments will be very low to the extent that the user will not get worried about financial burdens.

Wesbank and it’s installments

The vehicle installment purchase is one which allows the buyer to take the car, change the ownership for future installment payments.

The installment method is usually given to clients with higher credit rating.

This form of vehicle finance is branched depending on the client’s preferences. That is whether to pay a deposit or to make a balloon payment at the end of the term.

The prospective clients to the vehicle finance solutions offered by our company have three alternatives for making applications. The applicants can apply at one of our branches, through our agencies or by opting for our online application portal.

The applicants will need to make sure that they possess the following documents before making an application


  • Bar coded South African Identity document
  • Three months stamped bank statement
  • Proof of residential address not older than three months
  • Valid South African driver’s licence

The installment with deposit method is when the client chooses to make a large payment ahead of small monthly installments that will be used to clear the remaining funds from the price of the car.

The installment with deposit is pegged with a minimum, but there is no cap on how much the client can contribute.


Installment with balloon is the exact opposite of an installment with a deposit, and here the client will choose to initiate payment through small monthly installments and place an obligation of making a large payment at the end of the term.


Perhaps one might have their own dealer or individual from which they intent to buy a car from, Wesbank also provide fast easy loans that are meant for the client to purchase a car.

Although car loans are issued to facilitate the purchase from any buyer, one will need to provide sufficient, relevant and tangible evidence that they are going to purchase a vehicle with the funds as the funds can not be diverted to other uses.

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