Finance - ProWheels SA

ProWheels
Go to content

Finance

Bank Finance
What does Prowheels do?
We act as the go-between for you and the buyer, using our experience and expertise to finalise the sale as efficiently as possible.

What services do we offer?
We make sure that the car you are buying is legitimate. We also shop around to get you the best rate and we handle the all the admin pertaining to purchasing the vehicle.

Is Prowheels able to quote a rate before an application has been submitted?
We are not able to quote a rate until an application has been submitted as the rate is based on your risk assessment.
What does the bank take into account when they determine my rate?
The bank looks at your previous track and credit record, as well as the type of asset. e.g. car.

Why do the banks do a credit check on me?
They do a credit check to establish your historical payment conduct.

Where do I need to purchase my vehicle from?
You can purchase an asset privately or through a dealership.
Does Prowheels only finance pre-owned vehicle?
Not at all. We are able to assist with financing on both new and pre-owned vehicles.

Can I purchase a vehicle without a driver’s licence?
A vehicle cannot be bought without a driver’s licence as there is a risk to the bank relating to insurance claims being rejected. You will not be able to get insurance without a driver's licence and you need to have insurance when you sign an agreement to purchase a vehicle. You may nominate a driver if you have a medical reason that you cannot drive, and we will require a medical certificate from a specialist in this regard.

Do I need to pay a deposit?
The banks will determine if you need to pay a deposit or not. If you do need to pay a deposit, it will generally be due to affordability.
What does affordability mean?
Affordability is the amount of money you are left with after all your expenses have been deducted from your monthly income.

What is the difference between linked and fixed rate?
Linked interest rate is linked to the prime lending rate and therefore the monthly instalment could vary during the loan term. Having a fixed interest rate (usually slightly higher than a linked rate) means that the monthly instalment remains unchanged for the duration of the finance agreement.

Must I insure my vehicle?
It is compulsory to keep your vehicle/motorbike/caravan comprehensively insured for the full term of the finance agreement. Should you cancel your insurance during the finance agreement, you will be in breach of your agreement.
Can Prowheels quote me for my insurance?
Yes! Prowheels has an extensive network of partners to give you comparative insurance quotes.

Can Prowheels finance blacklisted people?
Yes we can. We have a Rent to Own department called R2O that we can assist you with finance.
Rent to own (Blacklisted Finance)
What does Prowheels do?
We have a specialised department called R2O that allows us to assist our client with finance that are either being declined on normal finance applications or are blacklisted

What services do we offer?
We make sure that the car you are buying is legitimate. We also shop around to get you the best rate and we handle the all the admin pertaining to purchasing the vehicle.

Is Prowheels able to quote a repayment before an application has been submitted?
We are not able to quote a repayment until an application has been submitted as the repayment is based on your risk assessment.

What does Prowheels consider when they determine my rate?
We evaluate every application on its own merits. There is no such thing as a decline. You being able to afford the repayment is our main concern.
Why do you do a credit check on me?
We don’t. Your application is evaluated purely on its merits. You tell us the truth; we give you a car.

Where do I need to purchase my vehicle from?
You can purchase an asset through our dealership.

Does Prowheels only finance used vehicles?
For Rent to Own, yes, ONLY used vehicles.

Can I purchase a vehicle without a driver’s licence?
A vehicle cannot be bought without a driver’s licence as there is a risk to the company relating to insurance claims being rejected. You will not be able to get insurance without a driver's licence and you need to have insurance when you sign an agreement to purchase a vehicle. You may nominate a driver if you have a medical reason that you cannot drive, and we will require a medical certificate from a specialist in this regard.

Do I need to pay a deposit?
Yes, There is a list of deposit values available on request starting from R22 000.00 upwards depending on the value of the vehicle you buy.

What does affordability mean?
Affordability is the amount of money you are left with after all your expenses have been deducted from your monthly income.

Must I insure my vehicle?
NOT AT ALL. We will include your insurance in the monthly repayment.

Can Prowheels offer me a warranty on my car?
Yes! Prowheels offers, depending on the age of the vehicle, between a 1 year to 2 year unlimited mileage warranty and also include a tracking unit in your rental.
Quick Links
Back to content