Basic requirements for vehicle finance

It’s important to know the basic requirements around vehicle finance eligibility.

Applicant requirements

In order to be eligible for WesBank vehicle finance, you as the applicant must:

• be over the age of 18;
• be a South African citizen or foreign national with permanent residency
• have a valid driving license
• have an income of at least R7 500 per month

The required documents are:

• A copy of your valid ID document
• Proof of residential address (not older than 3 months)
• 3 months bank statements
• Proof of income (a recent payslip)

      Tip: If you are an FNB customer, you may not need to submit all of these documents.

Is that all you need to be approved for vehicle finance?

No. These are only the basic requirements to be considered for vehicle finance. Meeting the above criteria and providing the correct documents are no guarantee of your application being approved. You would also have to have adequate affordability and a healthy credit record.

Article from FNB vehicle finance https://www.wesbank.co.za/help-centre/article/basic-requirements-for-vehicle-finance