WesBank Talks Finance
For over 50 years, WesBank has been a trusted provider of vehicle and movable asset finance in South Africa. We're committed to providing informative and responsible finance solutions and believe that knowledge is key, especially when entering into a finance agreement. As your vehicle partner for life, we hope that the insights you gain from our conversations with industry experts will help you make informed decisions.Please note that the information shared in this podcast is for educational purposes only and does not constitute financial advice.
WesBank Talks Finance
Vehicle Repossessions 101
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WesBank
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There are a lot of misconceptions around vehicle repossessions, but our experts are setting the record straight!
Lebo Gaoaketse is joined by Ghana Msibi, WesBank CEO, together with Nicole Manthe, WesBank Head of Collections, and Harry Molema, WesBank Head of Operations Business Unit. They're looking at the process of repossession, the fact that it's always the last resort for the bank and how to avoid it happening to you and your car.
Please note that the information shared in this podcast is for educational purposes only. This information does not constitute financial advice and is not to be acted on as such.
What are repossessions?
Looking at some tweets about repossessions
How to avoid getting to the point of repossession
How payment arrangements work
The options when struggling with payments
After the auction, is the customer liable when there is a shortfall?
The difference between voluntary surrender and repossession
The asset is depreciating but the liability is increasing
What percentage of cars get repossessed?
Debt review
Credit history shows arrears and payment behaviour