Wesbank to offer car financing to graduates without credit history

WesBank has announced a new car finance product that enables graduates with no credit history to receive vehicle financing.

Where credit providers traditionally consider both credit history and affordability before allowing prospective customers access to finance, WesBank’s Graduate Finance programme is aimed at those who may not yet have a credit history.

This will include competitive interest rates, tailor-made packages on selected car models, as well as customised and affordable insurance.

Furthermore, the entire application process can be accessed and fulfilled online – from start to finish, it said.

According to Wesbank, Graduate Finance is designed for graduates who:

  • Have a university degree, three-year diploma or NQF 6 qualification
  • Have graduated within the past three years
  • Are under the age of 31
  • Can provide proof of employment
  • Hold a valid driver’s license
  • Are a SA citizen or permanent resident

The lender said that it will also offer a customised an affordable insurance product that offers graduates a saving of up to 40% in their insurance premium if they are a WesBank customer

You can find out more about the programme here.

Read: A look at FNB and WesBank’s new R60 million solar energy project

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Wesbank to offer car financing to graduates without credit history