All about residual car finance
Posted: Mar 18, 2014
Are you searching for a residual car finance company? These days this particular method has grown pretty popular among many customers and buyers who prefer the options it offers. It certainly reduces too much headache from the buyer’s perspective. Basically, the buyer of a vehicle can make a lump sum payment at the end of certain time instead of having to make a down payment, as is normally done.
Since many people look for this type of an offer from their financer, there are numerous companies out there offering these deals. However, you must know what kind of offers is available and the conditions required to be fulfilled in order to make avail such offers.
Residual finance options offer an easy payment option to the buyer of a vehicle. You can make a loan arrangement with a financing company and will only have to make payments at the end of a certain term. That way you can avoid a down payment which can be a big sum of money and all the more, something that might affect you financially. Also these payments that you’ll make can be worked out in a way that they are affordable for you and not problematic. Interest rates are lowered and hence your monthly payments also reduce. So this is a very good option to go for.
However, there are certain criteria for which residual finance options are offered:
- Credit record must not comprise of defaults/judgments.
- A valid driving license of South Africa.
- A bar coded RSA identity that must be valid.
- Vehicles should not be ones before 2003.
- The vehicles must not be stolen, recovered or accidentally damaged.
- Vehicles must be registered in South Africa.
- Minimum monthly income of buyer should be R6500.
If you fulfill the above mentioned criteria, you are well eligible for a residual car finance option.
A lot of customers bear testimony to the fact that this refinancing option has helped them in a big way. Financial matters become easier to take care of and that too within their working budget. Thereby, this kind of financing has become largely popular too.
If you are having problems meeting your obligations pertaining to financing matters of any vehicle, you should be considering residual refinance. It will go a long way in helping you out mostly by easing off a major headache with your finances. Get in touch and get figure out the best plan for you.
Want to get advice for this service you can read the article.