Deal assistance. Too good to be true? Can it be trusted? Is it worth it? Deal assistance is becoming more and more popular with car dealerships looking to empower their customers and among people looking for a helping hand in buying the car they deserve. But deal assistance is often misunderstood, leaving people to miss out on the many benefits these innovative programs have to offer for vehicle financing.
In this post, we take a look at the ins and outs of deal assistance, what it is, how deal assistance works and why it is helping more and more people to realise their dreams of owning a vehicle of their own.
What is deal assistance?
Deal assistance is also called trade assistance. It is designed to help people fund and pay for a car. It is a form of financial assistance that provides breathing room to secure more funding, lessen the impact of a big cash payment or reduce the amounts owed in the immediate future.
Deal assistance benefits the buyer. It is structured in a way that prevents additional interest or costs from building up. It supports car finance needs while empowering people with more flexibility and opportunities to purchase vehicles they either couldn’t afford or would otherwise have to wait for before being able to use them.
Deal assistance is not a loan. It doesn’t cost anything to take out, and you don’t need to provide surety or collateral or get pre-authorised before receiving it.
Types of deal assistance
Deal assistance is also flexible. It can be tailored to suit the specific vehicle financing needs of the buyer and can be used for more than simply helping them to afford their car. There are various deal assistance options available to people. These include:
This is where people receive deal assistance in the form of a cash amount. They can use their deal assistance to pay off more urgent debts, take a holiday, buy something they really need (other than a car), or simply to save up. This frees up their future money to be used for paying off their car. Learn more about Cashback here.
This type of deal assistance can be added to vehicle deposit amounts. This is especially helpful for people who maybe don’t have enough to cover their new car’s deposit and don’t want somebody else to snap it up. Using deal assistance to boost the deposit could also assist with reducing instalment amounts down the road. Find out about using deal assistance as a deposit here.
This form of deal assistance can be used towards settling the outstanding amount on the trade-in vehicle. This significantly reduces the difference in amount owed and helps the beneficiary to either pay off their new vehicle sooner or to save on interest. Click here to discover the power of trade assistance during trade-ins.
Also known as a “payment holiday”, deferred payment deal assistance is where the amounts are used to take care of the first couple of monthly instalments. This popular deal assistance type is ideal for people who are worried that they will be under enormous car finance pressure in the months immediately after buying a new car. Deferred payments generally cover the first three to six months but can be customised for longer periods. Follow this link for more on deferred payments and how deal assistance works with this popular option.
Who needs deal assistance?
Anyone can take advantage of deal assistance. You don’t need to be financially insecure to qualify for deal assistance, and even if you can afford to buy a car, you can still ask for deal assistance to support vehicle financing.
Deal assistance is there to benefit and empower people. It is designed to be available to everybody. It is a useful tool for helping people realise their dreams of owning a car while easing the financial pressure in the process.
The benefits of deal assistance
There are many advantages to getting deal assistance. Aside from making it easier to buy a car, it opens extra doors to other, more expensive vehicles you wouldn’t otherwise be able to afford. Deal assistance comes with many benefits and is essentially risk-free.
Here are some of the valuable benefits that trade assistance brings to the table. Depending on your unique situation, goals and needs, you may want to take advantage of more than one of these benefits.
Deal assistance is very flexible
Deal assistance is all about flexibility. Customers can tailor their deal assistance to suit their precise car finance needs. Whether to delay when payments are due or to shorten the total vehicle repayment period, deal assistance is very adaptable.
Deal assistance loves customisation
While flexibility is a big pro, the ability to customise amounts, terms and options means deal assistance is designed to please each beneficiary on a personal level. One person may only need a small amount to get over the purchase line, while another may require much more money to do it. Deal assistance can take care of both.
Reduced financial pressure
Times are tough, and not being able to afford a car that you could have a year ago can be difficult to come to terms with. But with deal assistance, those higher interest rates, inflation pain and increased taxes don’t feel so bad. By providing extra time to pay, reducing instalment amounts and shortening payback periods, deal assistance can take the pressure off vehicle financing challenges.
More combination options
You don’t need to pick only one deal assistance option. In fact, you can combine multiple options to structure your own deal assistance “package” that offers the benefits of each one individually.
One of the biggest pros of trade assistance is the time it gives you to better manage your finances around your new car. Whether you’re settling into a new job, waiting for that 13th cheque or just need a financial breather, with more time, you can manage your car’s finances with ease.
You don’t need a trade-in vehicle
That’s right. You don’t need an existing car to trade in before receiving deal assistance. While many other in-house vehicle finance programs require that you sell your current vehicle before benefitting from trade assistance, with deal assistance, you don’t need to put anything on the table to get started.
How to do deal assistance
These steps in the deal assistance process will give you a good idea of how deal assistance works.
Find your car
Search for the car you want by browsing through the inventories of all the vehicles out there. Once you find it, reach out to the dealership.
Review your current situation
Take stock of your vehicle financing situation. Do you 1) Have a deposit available? 2) Know how much you can afford to pay monthly, and 3) need deal assistance? Once you have these answers, move on to the next step.
Speak to a consultant and explore deal assistance options
Engage with a consultant or financial specialist to find out about which deal assistance options would ideally suit you and how deal assistance works specifically. Learn more about what is available and consider different combinations.
Establish your deal assistance amount
After engaging, you’ll be able to establish how much deal assistance is available to help you get your hands on your car. You could receive R10,000, R20,000 or even as much as R50,000 in deal assistance – money that can go a long way to helping your car finance journey become a smoother one.
Choose how you want to use your deal assistance
Next, figure out how your deal assistance is going to be put to work for you and which areas of your financial situation will benefit the most from it. Remember, trade assistance is flexible, so you can always tweak things later on to suit your changing situation.
Enjoy your new car!
Once approved, you’re good to go! Using your deal assistance, you could be driving your dream car in no time without the stress and concern that come with financial pressure.
Conclusion – Where to find deal assistance that works
Why wait for other people to snap up the car that was destined for you? Now that you understand how deal assistance works, start searching for the vehicle of your dreams.
Browse our extensive quality used car inventory, speak to us and explore some of the exciting and innovative deal assistance options we have available.