Let our car loan put you in the driving seat
What you can expect
- You have ownership of your vehicle.
- Flexible repayment periods of up to 7 years are available.
- Settle your loan whenever you wish to without early repayment fees.
- Choose between a secured an and unsecured loan.
- Apply for a car loan with Absa even if you currently do not bank with us.
- Get financing up to Rs5 million with interest from as low as 6.99% per annum.
- Our car loans are for new and reconditioned vehicles purchased through authorised car dealers only.
- 100% financing and no GSD is required.
- Road tax and vehicle insurances can also be included in your loan amount on your request.
- The loan amount you qualify for will vary according to your salary and other facilities that you might already have.
- We provide you with a decision on your application within 2 working days.
- National identity document, passport or driving licence
- Utility bill not older than three months
- Last 3 months’ bank account statements
- Your latest salary slip (fixed income only)
- 12 latest salary slips and last 3 months' bank statements (if you earn regular overtime/commissions)
- Letter of outstanding balance from other banks/financial institutions (where applicable)
- Work contract if employed less than a year
- Quote from the vendor not older than 15 days
All documents are required in their original form. The list of required documents mentioned above is indicative only. The bank may at any time request additional documents or information to process your application(s).