Vehicle financing questions

[RH360]

I am currently in the process of arranging vehicle financing through Wesbank. The first quote I received was prime +1 linked. I want to negotiate for at least prime, but preferably prime - 0.5. What are the best tactics to negotiate? What are the expected best achievable interest rate from my current first quote?

Another question on the Wesbank process. They provide you with a reference number to give to the vehicle dealership. A banking representative at the dealership then communicates to Wesbank and it would appear acts as a proxy between myself and the bank. Is this correct? My initial application was directly with Wesbank on their website. Should I now negotiate via this dealership proxy on the interest rate?

 

[Chevron]

I am currently in the process of arranging vehicle financing through Wesbank. The first quote I received was prime +1 linked. I want to negotiate for at least prime, but preferably prime - 0.5. What are the best tactics to negotiate? What are the expected best achievable interest rate from my current first quote?

Another question on the Wesbank process. They provide you with a reference number to give to the vehicle dealership. A banking representative at the dealership then communicates to Wesbank and it would appear acts as a proxy between myself and the bank. Is this correct? My initial application was directly with Wesbank on their website. Should I now negotiate via this dealership proxy on the interest rate?

Basically get a quote from another dealership/bank and ask them to match or beat.

 

[karnuffel]

Im in a similar position. Get another quote from one of their competitors.

What I found shocking was that MFC (nedbank) does not have an online application. Standard Bank takes the crown for the karkest site hands down. ABSA was half good and fairly efficient. Wesbank would have had my business already if they would just answer their friggin phones.