How to Apply for Standard Bank Vehicle Financing

Standard Bank offers a completely online vehicle financing application process, designed for speed and convenience. Once you submit your application, you can manage your loan request and submit necessary documents through their secure online portal.

Steps to Apply for Vehicle Financing

✔️ Check your credit score to understand your financing options.
✔️ Gather necessary documents such as proof of income, assets, and employment verification.
✔️ Start your application online on Standard Bank's website.

What vehicles can you finance?

✔️ Light vehicles– new or used up to 17 years of manufacture.
✔️ Heavy vehicles- new or used up to 10 years of manufacture.
✔️ Motorcycles 0 km or used up to 6 years of manufacture for high displacement.

Estimate your Monthly Repayments

✔️ Car repayments calculator.
✔️ Purchase price calculator.
✔️ Affordability calculator.

How does payment work?

✔️ Pay the 1st installment up to 60 days.
✔️ Spread the payments up to 84 months.
✔️ Choose your payment date.
✔️ Instalments are debited from your bank account on the date you choose.

Standard Bank offers a variety of loan options suitable for various customer needs, including low down payment options and flexible credit requirements for qualified loans. In addition to fixed-rate financing, Standard Bank also offers adjustable-rate financing (ARMs).

Benefits of Online Application

✔️ Convenient application from anywhere, anytime.
✔️ Quick pre-approval to estimate your payment capacity.
✔️ Access to online tools to calculate potential financing payments.

Minimum Credit Score

✔️ 600 for conventional financing.
✔️ 580 for financial leasing.

Standard Bank can complete the pre-approval process within 24 hours, depending on your preparation and availability of documents. If your score is lower and you wish to obtain financing with poor credit, an option is to look for lenders who offer non-qualified loans.

Necessary Documents for Standard Bank Vehicle Financing

Having the following documents ready will expedite the process:

✔️ Valid Identity Document.
✔️ Proof of Residence.
✔️ Must be over 18 years old.

Standard Bank's qualification processes allow the use of traditional and non-traditional credit sources, which can help applicants demonstrate their creditworthiness .

Minimum Down Payment

The down payment requirements are minimal: 0% for financial leasing, starting from 20% for installment sales.

Next Steps After Applying for Financing

After submitting your application, Standard Bank will review your information and guide you through the next steps, which include finalizing financing options and the closing process.

Where to Apply?

Simulate and contract through the Standard Bank App with up to 20% discount on interest rates. If you prefer, you can also contact your manager and make the hiring through the agency.

If your application faces challenges, Standard Bank's team will discuss the reasons and possible solutions with you, ensuring that you have the necessary information to adjust and reapply, if necessary.

Start Vehicle Financing Application Take the first step towards acquiring your vehicle with Standard Bank's streamlined application process.