Does Capitec give vehicle finance?

(<a href=\\\\\\\\\\\\\\\\http://www.shutterstock.com\\\\\\\\\\\\\\\\>Shutterstock</a>)
(<a href=\\\\\\\\\\\\\\\\http://www.shutterstock.com\\\\\\\\\\\\\\\\>Shutterstock</a>)
A Fin24 user asks whether Capitec will be able to finance his car purchase.

Charl Nel of Capitec Bank responds:

The short answer is that Capitec Bank Holdings [JSE:CSI] does not offer asset base finance. In other words, we do not leverage your house or the asset you are buying to base the credit amount on.

We operate in the unsecured credit environment. In layman's terms, this means that we look at your income potential to pay back a loan rather than what you already own.

Your income and the stability thereof determine how much credit you qualify for. The highest amount we offer is R230 000.

To answer your question: Capitec Bank offers credit, but what clients use it for is up to them.

  - Fin24

Disclaimer: Fin24 cannot be held liable for any investment decisions made based on the advice given by independent financial service providers.

Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

* Do you have a pressing financial question? Post it on our Money Clinic section and we will get an expert to answer your query.

ZAR/USD
17.17
(-0.96)
ZAR/GBP
22.47
(-0.79)
ZAR/EUR
20.22
(-0.84)
ZAR/AUD
12.24
(-0.65)
ZAR/JPY
0.16
(-0.90)
Gold
1975.66
(-0.27)
Silver
24.30
(-0.46)
Platinum
919.76
(+2.03)
Brent Crude
43.61
(0.00)
Palladium
2082.00
(+1.21)
All Share
55829.40
(+0.19)
Top 40
51571.71
(+0.40)
Financial 15
9805.08
(-3.46)
Industrial 25
74738.74
(+0.31)
Resource 10
56585.24
(+1.85)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 817 votes
It depends on how the funds are used.
74% - 5406 votes
No. We should have gotten the loan elsewhere.
15% - 1080 votes
Vote