Vehicle and Asset Finance
WesBank, through its Islamic Vehicle and Asset Finance Division, offers an Ijarah (lease) agreement which is suitable for all types of customers, i.e. private individuals, self-employed individuals as well as businesses.
Essentials
What does WesBank Islamic Vehicle and Asset Finance offer?
- The monthly rental payable will be fixed for the duration of the contract.
- The period of the Islamic Vehicle and Asset Finance varies between 6 to 72 months, depending on the nature of the transaction as well as the business application.
- Ownership of the asset is transferred to the customer at the end of the lease agreement or once all rentals are fully paid, at no additional cost.
- The customer also has the option of ownership during the period. A 'Contract Balance Schedule' is attached to all our agreements, allowing the customer to view his or her outstanding balance at any time during the term.
- There is also an option of a 'Final Balloon Payment' for all those customers who require more affordable monthly instalments.
Criteria
What are the criteria of Islamic Vehicle and Asset Finance for Private Individuals?
- The necessary application form must be completed in full.
- A verified copy of your identity document and driver's license is required.
- A Utility bill (not older than 3 months).
- Your latest payslip or proof of income.
- No deposit may be required for private individuals. Finance periods of 12 to 72 months are available.
What are the criteria of Islamic Vehicle and Asset Finance for Self employed individuals / car allowance / businesses?
- All the necessary application forms must be completed in full.
- A verified copy of the Identity Documents for all members / directors.
- Utility bill for members / directors as well as for the company (not older than 3 months).
- Financial information and / or company bank statements.
- No deposit may be required for the abovementioned types of customers. Finance periods of 12 to 72 months are available.
Calculators
Vehicle repayment calculator
What will my repayments be? The vehicle repayment calculator will assist you in calculating the monthly repayments on a vehicle.
Click here to calculate your Vehicle repayment.
Vehicle purchase price calculator
What amount can I buy for? The vehicle purchase price calculator will assist you in calculating the value of a vehicle that you could buy based on a specified monthly repayment.
Click here to calculate your Vehicle purchase price.
Enquiries
Contact Details for Islamic Vehicle and Asset Finance
Gauteng
Imraan Cassim: 011 352-7861
Muhammed Ismael: 011 352-7864
Kwazulu Natal
Zaheer Mahomed: 031 560 7875
Western Cape
Samih Mathews: 021 595-8800
