Instalment Sale Agreements

A simplified purchasing process.

The process of buying or refinancing a vehicle doesn’t have to be complicated. We at AutoWallet, simplify the loan process for you with the added benefit of a prime interest rate due to our partnership with trustworthy South African banks. To do this, we use an Instalment Sale Agreement.

What is an Instalment Sale Agreement?

If you don’t have the funds readily available to buy the car you want a buyer, bank and lender put together an Instalment Sale Agreement contract in order to loan you the money you need. Once you’ve signed, you agree to pay the buyer a regular monthly instalment over 24 to 72 months. To reduce monthly repayments you can put down a deposit.

Why sign an Instalment Sale Agreement?

Instalment Sale contracts are an affordable way to buy and own your car while you pay it off. The fixed monthly instalments over a set period mean you can pay off your car at an affordable rate and still have cash left over to live your life to the fullest.

The bank will still keep your certificate of ownership until your loan is paid off in full but you won’t be restricted with the use of your vehicle.