Car Finance Calculator

Work out how much you can afford every month

Instalment Sale Agreements

Easy Car Loans - simplified online finance, tailored for you!

At Easy Car Loans, we aim to make the process of purchasing or refinancing a vehicle a simplified and effortless process. To do this, we partner with reputable South African banks to guarantee the best rate for you. This is done using an Instalment Sale Agreement.

What is an Instalment Sale Agreement?

An Instalment Sale Agreement is a contract signed into via a buyer and bank or lender, for the buyer to purchase their dream asset without having the cash funds needed to do so, as the bank or lender will then loan the buyer what is needed. After which the balance owed will be paid off by the buyer in regular monthly instalments over 24 to 72 months. The buyer can include a deposit too, to reduce monthly repayments and the total cost of credit.

Why enter into an Instalment Sale Agreement?

Not only is it more affordable with the option of fixed monthly instalments over a set period but the monthly repayments mean you can buy what you need, now! Plus, entering into an Instalment Sale Agreement means that you will own your vehicle while paying it off!

Of course the bank will keep the certificate of ownership up until you finish paying the instalments over the agreed period, but you won't be restricted in the use of the vehicle, ie. you'll have unlimited mileage, and the certificate of ownership will be handed over to you as soon as the loan is paid in full. Furthermore, you can choose to settle your credit agreement early, should you want to pay off the outstanding balance of the loan before the end of the agreed period.

Aren't there any risks?

Disadvantages you may encounter include choosing a shorter payment period. The monthly instalment would then be higher compared to other finance options, however, if you choose a shorter repayment term you can benefit from less interest payable. Furthermore, if you fail to make regular monthly payments, your vehicle may be repossessed. This also means that you cannot sell your vehicle until you've paid the balance in full.

Although there are some disadvantages to an instalment sale agreement, Easy Car Loans aims to expose you to as few as possible, by guiding you through the loan process and facilitating the best deal for you with an improved interest rate, as well as, an affordable monthly payment option with the added benefit of signing all the necessary documentation within the comfort of your own home or office.

Buy your vehicle from any dealer or private seller


Best rates on car, bike, caravan and refinancing

  • High approval rate
  • No deposit required
  • Approved in just a few hours
Apply Right now !

Start right now. why?


8 MINUTE APPLICATION

NO OBLIGATION FREE QUOTE

IMMEDIATE RESPONSE