FAQ’s
How safe is it to have someone else assume the payments on my car?
AutoGroup makes it safe for you by following these guidelines:
- All applicants are checked against various Credit Bureaus
- We ensure that all vehicles are fitted with a Netstar Safe and Sound unit that can be monitored at all times by the owner and AutoGroup
- No vehicles are allowed outside the borders of South Africa
- All vehicles are comprehensively insured with our preferred insurer as we conduct monthly checks to make sure that the policies are upheld
- Periodic checks are conducted on all our vehicles to ensure that they are being maintained and serviced at the correct intervals by an approved repairer
What is a vehicle takeover/payment takeover?
If you are no longer in a position to pay your finance company for your vehicle, AutoGroup will facilitate the transfer of this responsibility to a new pre-approved user who will then pay the monthly instalment, insurance and tracker on your vehicle. Once the vehicle is settled ownership will be transferred to the user
What do I do if I need to sell my car but my settlement at the bank exceeds the trade value?
The best option would be to allow us to find someone to take over your repayments and to help you to exit your lease agreement
I lost my job and can no longer afford my car payments. What are my options?
You have 2 options:
- You could hand your car back to the bank and allow them to sell it. This is risky though, as they will most likely sell it for less than what you owe them. If you cannot pay the shortfall (outstanding amount after the vehicle has been sold) it will affect your credit rating and you may be blacklisted.
- Allow us to cover the arrears and have one of our pre-approved users take over your financial burden.