At Edan Traders we offer our own customized in-house finance packages to customers, assisting in alleviating some of the frustrations found when having to arrange finance through some of the major banking groups. This includes finance for approved vehicles older than 5 years.
Feel free to discuss your financing requirements with us. We have assisted many a customer in acquiring a vehicle.
Once the form has been completed please email it to firstname.lastname@example.org OR fax to: +27 11 795-1005
Please note the calculator only provides an estimate for your convenience, results may vary
Finance application requirements checklist (if applicable)
- ✔ Offer to Purchase Edan Traders Salesman must complete an offer to purchase i.r.o the vehicle you wish to purchase.
- ✔ Application Form (original), both company + directors Each member/director must fill an individual application form as well. Completed in full.
- ✔ Certified ID Document We require an original certified ID of yourself and the Company Proxy
- ✔ Bank Statements Latest 3 months bank statements.
- ✔ VAT Number Copy of your VAT Registration Certificate.
- ✔ Proof of Residence Water & lights / rates and taxes / letter from tribal chief for all directors and company.
- ✔ Bank confirmation letter Bank confirmation letter or a copy of a cancelled cheque if any.
- ✔ Business Plan (1 page) A copy of the contract or a business plan.
- ✔ Income Tax Assessment A copy of the latest income tax assessment.
- ✔ Salary Advise Slip Latest 3 months salary slips.
- ✔ PDP A copy of a drivers valid Public drivers permit.
- ✔ Credit References Statements A statement of 3 different accounts being paid monthly, not older than 3 months.
- ✔ Financial Statements A copy of the latest financial statements OR management accounts
- ✔ Certificate of Incorporation COR/MOI Reports or CM1 / CM2 company documents.
- ✔ BRNC Certificate A copy of a business registration certificate from the license department
For your information:
- Licence fees will be charged according to our Gauteng region and paid upfront, You are responsible to collect your license disc from the authority in your area.
- Vehicles will not be released to purchaser/credit receiver until the required insurance premium is paid upfront.
- An individual application should be filled out by each member or director.
- A holding deposit of R50,000.00 (Fifty thousand Rand) is required, should you be interested in the vehicle. This means that the vehicle will not be sold while the necessary paper work is prepared.
- When we receive all the documentation from you we will do an ITC check with Kredit Inform and Transunion.
- Should your application be successful we require a 50% deposit (Not negotiable) on the value of the vehicle inclusive of 15% VAT that will be subject to finance.
- A Credit Agreement will be drawn up for a maximum period of 24 months. Interest rates, are linked to the prime overdaft rate, and set at prime plus ten percent per annum.
- We have fully comprehensive insurance available. This does not include Goods In Transit insurance.
- The Credit Agreement is subject to a tracking device being fitted to the applicable. The cost of the tracking device is R6,325.00 incl VAT which will be included in the Credit Agreement.
- A documentation fee of R5 750.00 incl. VAT per Agreement will be levied to cover the cost of registration, and drawing up of the Credit Agreement
- An initiation fee of R1,150.00 incl. VAT will be charged for each Credit Agreement, and is payable upfront
- If you are married by Customary Law or COP your spouse is obliged to sign surety. (This applies to all members/directors as well)
- Note that once the vehicle is ready for delivery you have a period of three weeks to present the outstanding documentation for an agreement to be drawn up, thereafter the vehicle will be considered for resale, by the dealership.