A good place to start is to know exactly what you can afford. Remember to take into consideration insurance and fuel costs.
What can I afford?
The most important part of the process is to determine how much you can spend. As a guideline we advise an instalment not more than 30% of your Gross salary or 40% of your NET salary.
To do that, enter your net income (i.e. after taxes and normal monthly salary deductions) in the worksheet below and subtract your monthly expenses. Add additional expenses if applicable. The remaining balance is an estimate of what you can possibly put toward your monthly motor finance payment.
It is important to be as honest as possible with yourself in order not to take the risk of overcommitting yourself.
Use our template to calculate your total Income and Expenses to get your Net Surplus
What will my instalment be?
Calculate your monthly instalment based on vehicle price, less deposit (minimum 10%), and preferred repayment period (maximum 54 months for all new vehicles). The repayment term may vary for used vehicles depending on the year model of the vehicle.
- The instalment calculation will be based on a default rate of Prime + 2.50%, which rate may change during the credit assessment process.
- We also offer a 25% "Buy-Back Agreement"
This is the fun part…..to choose your dream car!
Search the Auas Motors website for the vehicle that suits you best, or contact one of the friendly Sales Executives at Auas Motors to assist you in the search for your ideal car.
Hakos Capital & Finance is part of the Nictus Group, and the “in-house” financing entity for the Group providing vehicle and vehicle repair financing to Auas Motors only.
Our financing principles are basically the same as that of the commercial banks, but our processes are less cumbersome and we pride ourselves on providing an outstanding service to our clients.
Once you have identified a suitable vehicle, or you have an estimate of the cost of repairs you wish to finance, ask your friendly Auas Motors Sales Executive to provide you with a quote – remember to include any extra accessories you may wish to add to the vehicle.
Once you are ready to apply, please call on us to obtain the application and other forms required, or we can e-mail it to you, or you can download it here:
- Attach Individual application form
- Attach Income & Expenditure statement
Once the application form and Income and Expenditure statement has been fully completed and signed, you can deliver same, together with the following documentation to our offices.
- Quote for vehicle / repair or accessories
- Certified copy of your ID
- Certified copy of your Driver’s Licence
- Proof of Income
- Salaried individual – latest payslip and 3 months’ bank statements
- Commission Earner – Latest 6 months payslips and 6 months’ bank statements
- Self-employed – Latest 6 months bank statements and latest signed financial statements
- Proof of residence, such as Utility Bill (not older than three months), or Rental Agreement
* Should you wish to apply for financing in the name of a business entity, complete the Business application form and please contact us for further information and requirements
No, a valid drivers license is required by law.
Certainly, if the main applicant is married, he/she can combine their spouse’s income & expenses.
An approval is valid for 3 months, subject to further assessment of financial information should it be deemed necessary.
Once the vehicle finance has been approved, you are now required to make payment into the account of Hakos Capital & Finance for the deposit as per the conditions of approval.
In order to ensure that your vehicle is covered against accidents; theft etc, you need to arrange comprehensive short term insurance cover on the vehicle. This insurance is compulsory and needs to be in place for the full term of the contract.
- How will I make monthly payment for my instalment?
We will collect the monthly instalment from your account with a Debit Order, so you do not need to make any arrangements with your bank whatsoever.
- Can I choose which date my Debit Order need to be collected
Yes, Indeed. You can choose any date during the month that suits you for your Debit Order to be collected
Yes, subject to a full review and assessment of the client’s financial information for the last 6 months.