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Welcome to your Free Vehicle Credit Shortfall Cover

What is vehicle credit shortfall cover & why do you need it?

When you finance your car, your finance house charges you interest on the money they have loaned you. Uncool! Unfortunately, the price you see is never the price you pay, unless you buy the car cash.

Here is an example:

  • Gareth buys a convertible Mini Cooper from BMW in Sea Point, Cape Town, because he likes to feel the wind through his hair.
  • The price on the sticker is R 200,000, but he has to finance it at R 250,000
  • When he gets his first Statement from BMW financial services he notices something strange... 2 very different amounts appear:
  1. Outstanding Capital Balance - R 200,000 - Okay, that one he expected, no problem.
  2. Actual Contract Balance - R 250,000 - Whoa! What is that??

The difference between the insured value and the total amount owed to the bank (actual contract balance) is called the “credit shortfall” and it really sucks that insurers don’t necessarily warn you about this dangerous risk. In the example above, the credit shortfall is calculated in the following way:

Actual Contract Balance - Outstanding Capital Balance = Credit Shortfall

R 250,000 – R 200,000 = R 50,000

At dotsure.co.za, we don’t only warn you about the risk, we protect you against it, for FREE! We will cover you for up to R 50,000 or 20% of the market value of the vehicle, whichever is the lesser, towards your outstanding interest fees* – Mahala!

Let’s talk Credit Life...

In addition to the above, in the unfortunate event that you become permanently disabled or pass away, we will assist you and/or your family by paying up to 9 months instalments to a maximum of R 50,000 on your vehicle’s finance agreement – cool hey?

Normally you would pay for a product like this but because you chose well, and because you chose dotsure.co.za - this cover is FREE.

You’re one click away from enjoying this free cover.

Enter your ID/Passport Number and click ‘Continue’ to read the terms and conditions of this product, where we explain what is covered and what not.