Car Finance

[CyraxHB]

I've got a few questions and hopefully someone will know the answers.

When applying for car finance, does the bank definitely require 3 months payslips/bank statements?

With Standard Bank's preapproval thing, how much would I have to earn to get approval for a R110,000 loan, assuming I have a good/neutral credit rating?


My current situation is this. I've been overseas for the last 2.5 years so don't have recent south african payslips and my bank account here has been pretty much dormant. Although I have used my SA credit card from time to time, always paying off the debt each month.

I've just been offered a job at standard bank, starting next week, so I'd like to get finance through them because of staff discounts. I havent approached them about this yet so i thought I'd check on mybb to see if anyone can answer my questions. I'm using my mom's car at the moment so want to get my own as soon as possible.

Thanks.

 

[ALFAHOLIC]

Standard **** - Inspired, Motivated, Self-involved!

 

[syntax]

I've got a few questions and hopefully someone will know the answers.

When applying for car finance, does the bank definitely require 3 months payslips/bank statements?

With Standard Bank's preapproval thing, how much would I have to earn to get approval for a R110,000 loan, assuming I have a good/neutral credit rating?


My current situation is this. I've been overseas for the last 2.5 years so don't have recent south african payslips and my bank account here has been pretty much dormant. Although I have used my SA credit card from time to time, always paying off the debt each month.

I've just been offered a job at standard bank, starting next week, so I'd like to get finance through them because of staff discounts. I havent approached them about this yet so i thought I'd check on mybb to see if anyone can answer my questions. I'm using my mom's car at the moment so want to get my own as soon as possible.

Thanks.

u need to wait 3 months, sucks but i dont think ur gonna get round it..

 

[CyraxHB]

u need to wait 3 months, sucks but i dont think ur gonna get round it..

I thought as much.

If I got my dad to sign surety on the loan do you think the bank would be more lenient on my requirements?

 

[rorz0r]

Why not wait til you work there and ask them. Pretty sure working at the bank is rather diff from us plebs...

 

[CyraxHB]

Why not wait til you work there and ask them. Pretty sure working at the bank is rather diff from us plebs...

I do know employees get better interest rates. But I suppose I'll have to wait and see what their policies are on the rest of the process.

 

[Fazda]

Best to go straight to whoever is employing you at the bank. If you cannot wait, ask your dad to sign surety. I did that when I came back from the UK, with Standard, they approved my money immediately.