Financing a car while jobless

A Fin24 user wants to know whether a car dealer can refuse to accept an agreement if one is unemployed. She writes:

Can a car dealer refuse to accept an arrangement if one has been unemployed for over a year?

I’m making regular payments every month, doing what I can with what I have.

Chris de Kock of WesBank responds:

The dealership is not allowed to make a repayment arrangement because the finance agreement is between the customer and the bank. The customer must approach the company who financed the car in order to make arrangements for the repayment of arrears.

WesBank do make repayment arrangements with customers that are in arrears. These arrangements are based on the principles that the customer must pay agreed amounts on agreed dates.

It is also important to note that every customer’s situation is different and therefore there is no standard repayment arrangement.  Each repayment arrangement is based on the customer’s particular set of circumstances.

- Fin24

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