Chery South Africa, WesBank sign financial services agreement
South Africa has signed an agreement with WesBank for the provision of financial services to the importer’s clients and dealers.
The agreement includes the provision of vehicle finance solutions under the newly created Chery Finance.
The deal will also handle all asset and dealer floorplan finance.
“For Chery, affordability means much more than just the sales price,” says Chery South Africa national sales manager Jay Jay Botes.
“We consider the cost of finance, maintenance, and insurance in our calculations, and we want to make sure that it makes sense to our customers on every level.
“With this in mind, we are very proud to partner with WesBank for the creation of Chery Finance,” notes Botes.
“WesBank is known for its innovative approach to vehicle finance and cost competitiveness. This will ultimately benefit our future owners, who are guaranteed to get the best possible deal on their new or pre-owned Chery through Chery Finance.”
“We are proud to be associated with Chery South Africa and look forward to a long and fruitful relationship,” says WesBank Vehicle and Asset Finance CEO Ghana Msibi.
The creation of Chery Finance follows on the announcement of Chery’s re-entry into South Africa.
This is, however, the first time that the company will be active in South Africa as a wholly owned subsidiary of the global group.
Chery South Africa says it has completed its local vehicle testing and homologation and looks forward to introducing its first vehicles later this year.
The agreement with WesBank will allow Chery’s sales and dealer development team to offer finance solutions at each of the 30-plus dealers that are set to start trading in November.
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