Easy Sell Vehicles
What is EasySell vehicles?
The thought of losing your car can be heart-breaking. However, if you're in financial difficulty you may be forced to sell your car to restore your financial position or risk losing it.
We understand how difficult this can be which is why we've patnered with Wingfield Motors Pty Ltd T/A Best Price For My Car and designed the EasySell programe.
We want to assist our clients through this patnership to sell their cars privately when they no longer can repay their vehicle instalments.
What are the benefits of EasySell Vehicles?
- You stay in control of the sale of your vehicle.
- Repayment of the shortfall by debit order will ensure that your credit bureau record is not affected.
- You can buy another car when your financial position improves.
- The shortfall can be repaid interest-free* over an extended period.
- Standard Bank gives you a 20%**discount on the shortfall.
* The interest-free benefit will apply only if the shortfall is paid in full.
** The discount will only be applied if you have signed an Amendment of Agreement and only at the end of the Amendment of Agreement Term provided that 80% of the total shortfall has been paid.
How does EasySell work?
Here’s how it works:
- We’ve partnered with car dealerships that specialises in marketing and selling of vehicles countrywide to ensure that you get the best possible price
- The price of your vehicle is based on the market value
- You will be in control of this process by accepting or rejecting the offer(s) presented to you;
- Only serious buyers will be accepted through various platforms.
- A fixed commission is paid to the dealer and will be deducted from the selling price of the vehicle
- Once your vehicle is sold and all the relevant costs and fees have been paid AND if there’s a shortfall (in other words you have an outstanding balance after the sale of your car), we’ll help you make arrangements to pay off the balance interest-free* over an extended period
*The interest-free benefit will apply only if the shortfall is paid in full.
On top of that, we’ll offer you a discount of 20%* on the shortfall amount.
*The discount only applies if you’ve signed an Amendment of Agreement and only at the end of the Amendment of Agreement term provided that 80% of the total shortfall has been paid.
How do you sign-up for EasySell?
If you would like to sign up for EasySell you are required to complete, initial, and sign at the bottom of each page of the mandate. After completing the form, submit the EasySell mandate to [email protected]
All required supporting documentation as per the attached Cover Letter needs to be submitted to [email protected]. Please ensure that the photos of your car are clear.
Once the mandate and all supporting documentation have been received and vetted, the matter application will be referred to a dealer.
What happens after the mandate is signed?
A booking will be made for you to take your vehicle or asset to Dekra for a full inspection. They will ensure that the appointment is made at your nearest Dekra branch.
The cost for the Dekra Inspection (R 1,073.00) will be paid by EasySell.
You need to ensure that your vehicle is taken to a Dekra branch on the confirmed date and time of the booking.
Please Note:
Once the market price has been accepted, the photos and the Dekra report will be are uploaded onto various websites.
The recommended market price is calculated by taking various factors into account like the current trade and retail values, mileage and condition of the vehicle.
Once the market price has been accepted, the photos and the Dekra report will be uploaded onto various websites, and you’ll get regular progress updates.
Updates may include things like recommending a price reduction if your vehicle is not selling at the market price agreed upon.
What happens after I accept an offer on my Vehicle?
If an offer is received on your vehicle, the dealer will contact you to either: accept or reject the offer.
If you accept the offer and signed the offer to purchase, the dealer will make the necessary arrangements with you for delivery or collection of the vehicle.
What happens after the sale of my vehicle is concluded?
The nett proceeds of the sale are paid directly into your Standard Bank Vehicle and Asset Finance account.
After the funds have reflected in the account, the following will happen:
- EasySell will log a request for the NaTIS to be released and sent via courier to the dealer
- EasySell will issue a Dealer Stock Letter which is sent to the dealer
- EasySell will send you an updated Shortfall Calculation and;
- EasySell will draft an Amendment of Agreement and Debit Order Authorization which you would must sign and return to repay the shortfall.
Upon receipt of the signed Amendment of Agreement, the account will be restructured, and the debit order activated.
Your Vehicle and Asset Finance Account remains open and the 20% discount will be applied when 80% of the shortfall has been paid.
If you can pay the shortfall, payment can be made directly into your Standard Bank Vehicle Asset Finance account.”