WesBank_Support @WesBank_Support
Tweet or DM us for help with your account or any car finance queries. wesbank.co.za Johannesburg, South Africa Joined September 2018-
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The prime lending rate will stay the same at 11.75%, so car finance agreements with a linked interest rate will not be affected this time and your instalment will not change. (Fixed interest rate? Your payments stay the same anyway)
Choosing a fixed or linked/variable interest rate for your car finance can make a big difference in the future! Ask us anything about how this works! #AskUsAnything #WesBank
🏆 WIN🏆 We want the inside scoop on your OG dream car! Tell us what your all-time favourite ride is in the comments for a chance to win 2 tickets to this year’s hottest motoring event, the Festival of Motoring, taking place from 25-27 August. T&C Apply: fal.cn/3ACRh
The repo rate is staying the same, so the prime lending rate will remain at 11.75%. This means that car finance agreements with a linked interest rate will not be affected this time and your instalment will stay the same. Fixed interest rate? Your payments don't change anyway.
The repo rate hike means that the prime lending rate has gone up & this will affect your car payments if your finance agreement has a linked (variable) interest rate. If you have a fixed interest rate, your instalment will stay the same. Find out more: wesbank.co.za/help-centre/ne…
If you've a linked interest rate, your instalment is affected every time there's a change in the prime lending rate, which is dictated by the repo rate. The increase means your car finance instalment will also go up. (Fixed interest rate? Your payments won't change) #RepoRate
If you have a vehicle finance agreement with a linked (variable) interest rate, then your monthly payments will go up following the increase in the repo rate, which dictates the prime lending rate. Find out more about linked interest rates here: bit.ly/2VN05tI
BAD NEWS: We’re experiencing high volumes of support enquiries & it’s causing delays in our response times. Apologies! We know this is frustrating. GOOD NEWS: many requests can be fulfilled without delay online, please visit wesbank.co.za/manage-account/
If you’ve financed a car with a variable (linked) interest rate, then your instalment amount changes with any increase or decrease to the prime lending rate, which is dictated by the repo rate. This latest interest rate hike means that your car finance instalment will be going up
Will the latest prime lending rate hike affect your car finance payments? Take a look at the impact the 0.75% increase has on people with a linked / variable interest rate. (If you have a fixed interest rate you won't be affected & your monthly payments will remain the same.)
If your finance agreement has a variable interest rate, then your instalment amount will increase or decrease according to changes in the prime interest rate, which is dictated by the repo rate. So the recent repo rate change will mean your monthly payments will also be going up.
If you need to take care of admin on your car finance account, there’s an easier way than phoning our call centre. To check your balance, download statements, get settlement quote or request a copy of your NaTIS document, use the WesBank app or click here: wesbank.co.za/manage-account/
We apologise for long holding times due to high call volumes at the moment. Please contact us on Twitter by sending a DM to @WesBank_Support or logging into your account on WesBank.co.za
If your finance agreement has a linked/variable interest rate, be aware that it will be affected by the increase in the prime lending rate. Find out more about linked/variable interest agreements here: bit.ly/2VN05tI
So you're in the middle of something when you realise you need your car's tax certificate for filing your return… use the WesBank app. Click to learn more.
If you’re crossing the border and your car is still financed by WesBank, you will need a border letter. So make sure to request one online, as well as downloading a copy of your NaTIS document. Click here for more: bit.ly/3DUtiI5
So you've got a few minutes to check your amortisation schedule... use the WesBank app. Learn more: bit.ly/3lyM40q
🔊 🔊 Driving out of SA this holiday in your WesBank financed car? Use the WesBank app to request a border letter. Find out more about the WesBank app: bit.ly/3lyM40q
We’re pleased to inform our customers that the technical issues have been resolved and our systems are running again.
We're currently experiencing technical difficulties which have affected our systems. Our IT teams are working to fix the issue. We apologise for any inconvenience caused.
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WesBank @WesBank
19K Followers 231 Following Hey, follow us if you love cars! [For customer service please use @WesBank_support. We’re online Mon to Fri 8am - 4pm]
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