Archive for Vehicle Finance

Want A Car? Keep Your Credit Report Clear – Says Wesbank

De Kock of Wesbank says that one of main reasons vehicle applications are declined is because of the applicant’s credit report.

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Bad Credit’s Double-Whammy On Car Payments

Insurance companies use credit scores calculated from the same credit reports. The calculations are tweaked a bit but largely reflect your credit situation. Insurers pay attention to your credit report because it’s seen as a predictor of claims — and car insurance companies hate claims.

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Illegal Vehicle Finance Schemes

“In practice, however, the vehicle repayments are often not made to the bank and the account will be left in arrears, leaving the original owner without a vehicle and still being held responsible for the remaining debt on the account.

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Balloon Payments May Pop Your Dreams

You ask “how bad can a balloon repayment be?”. Bad, very bad.

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Balloon Payments Bubble – Bursts!

The number of South African consumers who opt for balloon payments when financing their vehicle has fallen significantly over the (past) four years, down from 22% in July 2007 to 9,5% in June this year.

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