My father wants to buy a 2016 car of R 179 000.00. He has fixed savings at ABSA many times this amount. His house is also paid in full, also bought via ABSA. He is on pension though. Now with so many assets and no dept, why would ABSA decline his vehicle finance application? It just does not make sense to me. Their loan amount was guaranteed, no matter what.
My mother does not want him to take a cent of their investments to buy the car in cash, hence he went for the finance application. Between them, they get enough pension to easily afford the car, otherwise they would not have applied for the finance.
My mother does not want him to take a cent of their investments to buy the car in cash, hence he went for the finance application. Between them, they get enough pension to easily afford the car, otherwise they would not have applied for the finance.
