FAQ

WHY DO I FIND THAT WHEN SUBMITTING MY BOND / VEHICLE FINANCE APPLICATION , THAT THE BANKS ARE DECLINING MY APPLICATION?

The most important reason why your bond / vehicle finance application is declined is because the application was not properly compiled and in addition to that when the application is submitted to the respective financial institutions , the order of the documentation is many times neglected , which further counts against you .

Further to this , your documentation probably does not tell the banks your story , and I find that in most cases this is true for self employed individuals .

I find many clients call me and say to me that they got a message from the bank telling them they are approved for this or that . I immediately burst the clients bubble by advising them that that is a system generated message and that the application process must still be followed .

Silence from the client …..

The client may then go on to tell me that his or her business banker also called to advise them that they qualify for this or that , and again I advise the client that the application process must still be followed .

Silence again from the client ….

I then start asking the client a few basic questions , and immediately their answers tell me that they have no clue about how to compile their application .

The client then tells me that the banker or bond originator or vehicle finance consultant has advised them they will be approved . The harsh reality is that these consultants and bankers work on a hit and miss system whereby they submit 10 applications and they hope that 2 or 3 are successful so that they can earn their commission at the end of the month .

Coach Q will never submit an application if he feels that it is lacking in some way or another . I would rather advise the client to remedy the paperwork and then submit the application .

Many clients insist on submitting incomplete applications . The result of a declined application precludes you from submitting another application within the following 3 to 6 months (depending on the institution) , until the declined application is removed from the banks systems .

Hence , Coach Q strives to minimise the risks of a declined application , to maximise your chances of a successful application and for this service , a nominal fee of R 1000.00 is charged to compile and submit an application as it should be submitted .

Once you complete our online application and upload all your documentation , Coach Q will do a FREE assessment on the chances of your application being successful . He will then advise you of any shortcomings , and should you require any additional paperwork (mostly in the case of self employed individuals) , he will advise you of the cost thereof , which is an additional cost to the application processing fee .