Finance Application Form

Step 1:
Online Finance Application
  1. What is the difference between a balloon payment and residual? There is no difference between the two.
  2. What is residual and how does is it work? It is a percentage of the cash price that is held as the final payment from the finance agreement, which can be paid either cash or refinanced. It reduces the value amount of your monthly repayments as well as the amount you will owe at the end of the loan term.
    For Example: If you borrow R250 000 over 6 years and decide to take a R60 000 balloon payment to lower your monthly repayments, you’ll owe R60 000 at the end of your 6-year term. You can reduce the residual amount by making a bigger once-off payment during the repayment term.
  3. What are the benefits of balloon payments? You pay a lower monthly instalment. No deposit is required. You can sell your car at the end of the loan term to repay the residual.
  4. When is balloon payments is a viable option? When the buyer intends to drive the car for 3 to 4 years. When the driver does not intend on driving the car for significant distances.
  5. What are the benefits of a deposit? It lowers your monthly instalments. It reduces interest owed for the loan.
  6. What is Guaranteed Future Value (GFV)? This is aimed at drivers who want to drive a new car and do not want to take ownership of the vehicle at any stage. GFV is the amount the finance house guarantees to settle your vehicle for after a certain period if all terms have been met. Periods vary from 24, 36 and 48 months with distances set at 20 000km, 25 000km or 30 000km per year. Once the term period has come to an end, and all the terms and conditions have been met, the car gets brought back to the dealership, and the finance house is responsible for the vehicle’s settlement.
  7. What documentation do you need to buy a car?
    • Copy of clear ID
    • Valid driver’s license
    • Latest 3 months’ bank statements
    • Latest 3 months’ pay slips
    • Proof of residence on an account, monthly statement or utility bill (not older than 3 months)
    • Completed application form
  8. Is it good to take a balloon payment? If you want to drive the vehicle for at least 3 to 4 years and you’re not a high miler, and you don’t want to take ownership of the vehicle, you can consider a balloon payment.
  9. Must I take a fixed or linked interest rate? It is always better to take fixed rate because you can budget monthly unless it is on a special scheme with a very low linked rate or the difference between linked and set is very big.
  10. Can I pay off my vehicle at any time? You can request a settlement from the bank at any time and pay the outstanding amount unless it is a particular scheme from VW then you can settle after 6 months.
  11. Can I change my insurance? You can change your insurance at any time, but the vehicle must be insured at all times. This means that you need to put the vehicle on new insurance before cancelling the old insurance.
  12. Do you need a deposit to purchase a car? Not necessarily. It depends on the finance house.
  13. What does the service and delivery fee entail? This fee includes administration for completing finance processes, car valet, licence and registration of the vehicle, and delivery fuel.
  14. What is the maximum term to finance a vehicle? 72 Months
  15. What criteria does the bank look at when scoring your finance application? An ITC credit check is done, your payment profile is checked, all your expenses are compared to your income, terms at work and your assets are taken into consideration.
  1. Why are parts so expensive? 12 months’ warranty on parts and OEM engineering goes into the development of the parts, best fit and finish.
  2. Why don’t you stock parts? Service parts for current models are kept on hand but all other parts are either kept at the OEM warehouse or imported as needed.
  3. What if the car goes over the specified service parameters from the OEM? This can influence the warranty of the car and later on the goodwill applications to the OEM.
  4. What is my radio code? Bring your car in for us to take the radio out to get the serial number, then we can talk to the OEM for the code. Bring in the registration document of the car as proof of ownership.
  5. Why are the brake discs not guaranteed for the same period as the car? Brakes are a wear and tear item, not covered by the OEM due to driving style of the customer. Brake discs are only covered in the first 6months or 10,000km.
  6. How do I make a booking to service my car? You can contact us directly. Use the form below.
  7. Will I have to wait the whole day at the dealership for the repair to be completed? Some dealer has a shuttle service that is available every day of the week. Other dealers have the option to pick up and drop off.
  8. Can I get hold of the workshop over weekends? We are closed on weekend but we have a standby technician on call, and we charge a call out fee if the vehicle is out of warranty
  9. Is there a warranty on parts? Yes, 12 months from date of invoice.
  10. How long will I have to wait for my part? If the part is ordered before 12 you can expect delivery the next day. If the part is ordered after 12 takes you can expect delivery in 2 days. Otherwise, it can take between 10-15 working days before you receive the part.
  11. Can I return parts ordered? Parts incorrectly supplied are returnable within 7 workdays. Electrical parts are not returnable, unfortunately.
  12. Can you beat local supplier prices? Kelston prices are very competitive and reasonable. The chances are that we are cheaper than our competitors and have the best quality, after all, we have the stamp to prove it!
  1. What happens if my new vehicle brakes down? Contact Road Side Assistance and they will arrange with the closest dealer to assist you in trying to fix the vehicle, or they will arrange for the vehicle to be taken to the dealership for repairs.
  2. Can I test drive the vehicle that I’m interested in? Yes, we have a wide variety of demo’s available for test drives
  3. Do you offer in-house finance? Yes, we have qualified F&I’s at all our branches, which can assist with your financing deals. We’re linked to all the major banks, and we’ll source the best finance deal for you.
  4. Can I trade in my current vehicle? Yes, we do trade in vehicles. Bring your vehicle in for a full valuation so that we can determine the trade value and make you an offer.
  5. If I buy a car without a radio or canopy will you be able to provide these items? Yes, we will include it in your quote, and we can have it fitted.
  6. Can I pay cash? No, unfortunately, we don’t have the facility to handle such large amounts of cash. We suggest that you deposit the cash at the bank and bring along the proof of deposit.
  7. How soon can we expect delivery? Once finance is approved on your car that is in stock and all additional fitments that have been requested are fitted, it can take between 2 to 3 days.
  1. How many previous owners has the car had? We will tell you based on the history of the vehicle that we have.
  2. Do you have a service history? Yes, we will provide proof.
  3. Has the vehicle been in any accidents? We don’t sell cars that have experienced accident damage. We do as many background checks as possible to ascertain the history of our car, and we won’t sell a car if this is relevant.
  4. Do you take trade-ins? Yes, we do take trade-ins, and we’ll pay the best possible price for us to do business.
  5. Do you provide in-house finance? Yes, we have online finance applications and highly qualified Finance Managers to structure the best deal for you as our valued client
  6. Where would we service our Kelston vehicle? We have multiple brands, and we can service vehicles that are in warranty as well as out of warranty. We also have a collect and drop off service.
  1. BUYING NEW PROS
    • Get latest features and most up-to-date technology
    • Get a discount on demo vehicles
    • Select preferred colour and extras
    • Variety is huge
  2. BUYING OLD PROS
    • Affordable
    • Rigorous quality check is performed to verify its working order
    • Depreciation makes a pre-owned car better value for money
    • Comes with a 6-month warranty
  3. BUYING NEW CONS
    • Costs more
    • Cars start to depreciate as soon as you drive it out of your dealership
    • Insurance, tax and registration fees are higher
    • Additional features add to the cost of the car
  4. BUYING USED CONS
    • It may end up costing you more over the car's lifespan
    • May require repairs sooner than a new car
    • Repairs warranty is limited
    • Additional features are limited

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