Whether you are self-employed or a salaried individual (with or without a car allowance), WesBank will help you choose the perfect finance solution for your requirements.
WesBank is the largest provider of finance for the purchase of vehicles in Namibia
Vehicle finance can be arranged through any FNB branch
You can choose from four basic methods of finance.
You repay the goods over a period of time, and the seller charges you interest on the amount still to be paid.
Similar to an instalment sale, but ownership of the goods will only pass to you once the 'suspensive condition' of full repayment has been made. A business entering into a suspensive sale agreement may claim the interest paid as a business expense.
You pay the seller a series of rental amounts over a predetermined period, with the option to buy the vehicle at the end of the term.
Similar to a lease agreement except that you do not normally have the option to buy the vehicle at the end of the term. In addition, VAT is not added to the purchase price but is charged on each rental payment.
This procduct comprehensively insures your vehicle for the duration of the finance
Ensures that the full outstanding amount owed is settled in the event of death
You are covered against any shortfall to the bank in the event of loss of vehicle
Covers mechanical failure of the major components of the vehicle
This provides tax-oriented customers with the best of both worlds in that they enjoy the unique combination of a linked rate with the security and peace of mind of fixed or capped monthly repayments.
This enables customers to 'Take-a-Break' from their loan repayment obligations for any one month of their choice during their annual repayment cycle.