Vehicle FINANCE
At Omoda Jaecoo Welkom, we understand that buying a vehicle is a big decision. That’s why we offer vehicle finance solutions designed to fit your budget, lifestyle, and needs. Whether you're looking at new or pre-owned vehicles, we aim to make the financing process clear, simple, and supportive.
Vehicle Finance Information
How Vehicle Finance Works
Vehicle finance allows you to purchase a car by paying it off in monthly installments. You'll sign a finance agreement with a lender, and once all payments are made over the agreed term, the vehicle is yours.
Types of Finance To Choose From
- Installment Sale: Pay monthly and own the car after the final payment.
- Lease Agreement: Rent the vehicle and optionally buy it at the end.
- Balloon Option: Lower monthly payments with a lump-sum due at the end.
Who Can Apply
- South African citizen or resident
- 18 years or older with a valid SA driver’s license
- Proof of income and employment
- Subject to credit approval
What You’ll Need to Apply
- Valid ID or driver’s license
- 3 months’ payslips or bank statements
- Proof of residence (e.g. utility bill)
- Employment and banking details
Finance Terms Explained
- Term Length: Usually 12 to 72 months
- Interest Rates: Based on your credit profile
- Deposit: Optional but helps lower repayments
- Balloon Payment: Final lump sum if selected
Tips for Choosing the Right Option
- Choose a repayment that fits your budget
- Consider how long you’ll keep the car
- Ask about early settlement terms
- Include insurance and running costs in your budget
Frequently Asked Questions
- Can I finance a used car? Yes, pre-owned vehicles often qualify.
- What is a balloon payment? A large final payment that reduces monthly installments.
- Can I trade in my current car? Yes, your trade-in can be used as a deposit.
- Is a deposit required? Not always, but it can help with approval and lower your repayments.