13 Feb Finance for Cars Older than 10 Years Now Available
Do you have your eye on a reliable older vehicle? Perhaps you assumed financing was not an option, since many South African banks and vehicle finance providers do not offer traditional financing for cars older than 10 years. For budget-conscious consumers, this restriction can be frustrating – fortunately, Loan Wave makes it possible to fund this purchase with a customised personal loan.
Most banks follow strict lending criteria and consider older cars unreliable collateral, as they depreciate more quickly and are harder to insure. The truth is, well-built, properly maintained vehicles can be a smart investment, and everyone should be able to purchase a car that is within their budget. This is one example of how personal loans can improve your life.
Personal Loans: A Smart Alternative
At Loan Wave, we understand the power behind a financial boost, especially when it comes to expensive purchases. Our online personal loans offer flexible solutions for drivers buying or shopping for older vehicles that match their affordability and needs. We always recommend checking that a second-hand car passes roadworthy inspections before finalising your purchase, to be safe.
To qualify for a personal loan from Loan Wave, you need to pass our affordability assessment. We assess your income and expenses to make sure you receive a loan you can comfortably afford. As a lender registered with the National Credit Regulator (NCR), we are committed to responsible lending practices that prioritise your best interests. Our auto loans can help you get behind the wheel sooner than you think!
Your Car Purchase, Your Way
Whether you are working with a private seller or a small dealership, get great value for your money with a personal loan from Loan Wave. Unlike standard vehicle loans, your personal loan is not tied to the age, model, or make of the car you plan to buy. This means you aren’t restricted when choosing the right car for you.
Ready to get started? Start by applying for a personal loan on our website. We will require a copy of your SA ID/passport, proof of income (a recent payslip/bank statement), proof of address, and your contact details. Car finance has never been more transparent and straightforward, and the entire application takes place online.
Driving Loan Success
With Loan Wave, you are one step closer to owning your own car. Our goal is to empower South Africans to live life to the fullest, without feeling weighed down by financial restrictions and a lack of funding assistance. Want the greatest chance of succeeding? Here are the best ways to improve your loan application success. For a personal auto loan that will get you on track, APPLY NOW!