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reference only for users in soulth afnca

BAIC SA offers our owners competitive finance options and insurance plans – all of which are tailored to your specific requirements. We look forward to helping you purchase your favourite BAIC model! The vehicle finance options available are outlined below:

Installment Sale Agreements

This is an agreement between a buyer and seller in regards to the purchase of goods (like a vehicle), by paying in consistent installments over an agreed period of time. This is the traditional way of financing vehicles.

The following terms are applicable to lease agreements:

  1. The buyer is charged interest on the amount of the original price that is still outstanding. Other charges relating to the granting of credit will also be included.
  2. There is no mandatory minimum deposit, but a deposit however may be required by the Credit Department.

Benefits of Installment Sale Agreements:

  • Ownership of vehicle
  • Fixed or variable interest rates
  • Repayments over an agreed period
  • Customized payment structures
  • VAT capitalised at the outset of agreement
  • Finance charges and depreciation deductible from income tax (dependent on the customer profile)
Lease Agreements

This is an agreement between a seller and a customer, where the customer can use the vehicle in question for an agreed upon lease payment amount, over a fixed time period.

The following terms are applicable to lease agreements:

  1. The vehicle must remain in the possession of the customer for the complete lease period and must pay the seller in full for all the lease payments that are due over that period, as stipulated by the lease agreement.
  2. The customer has the right to terminate the agreement (if not otherwise stipulated) before the end of its expected duration by buying the vehicle. At the end of the agreed period the customer must either buy the vehicle or extend the lease period for an additional term.

Benefits of Leasing:

  • Option to take ownership of the vehicle or extend the lease at the end of the agreement’s duration
  • Lease payments are tax deductible
  • VAT capitalised at the outset of the agreement

BAIC Finance is supported by Absa. Absa is an Authorised Financial Services Provider and Registered Credit Provider. Registration number NCRCP7.