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Banrep FAQ
Welcome to the world of vehicle rental.
We require all FICA documents and a
minimum start up fee from R16500.

What are FICA docs?
1.Valid SA identity document or valid passport
2. Valid SA driver's license
3. Pay slip (the latest as well as the previous two months)
4. Latest 3 months bank statements (reflecting your name)
5. Latest proof if your physical address (an official document)
These documents validate who you are, your financial status and your place of residence.
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Where are you located?We are located at: C/o Great North & West Street, Brentwood Park, Benoni, 1505, South Africa. Note: Our services cover clients around Gauteng alone!
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What is the initial fee?The start-up fee is established by the Renter and can be amended accordingly. It is not a deposit. Note, it's NOT a deposit. This fee is payable upfront before delivery. A list of the required fees per vehicles are available on request.
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Can I change the vehicle?Because it is a month-to-month rental agreement and payments are due in advance (you pay, you drive) you can at any time change the vehicle but remember there are terms and conditions that will apply. You can therefore upgrade, downgrade or restructure payments. This option is only available to our loyal clients and terms will be explained by one of our agents.
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How do I qualify?You need the following documents to qualify: A fully completed application form. All FICA documents. An initial fee.
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What does the monthly rental amount include?Comprehensive insurance Roadside assistance Towing service Tracking services Usage for the current month We also offer the option to upgrade, Downgrade or Restructure a current agreement.
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Where can I service the vehicle?You can service the vehicle at any approved workshop, but we advise you to bring the vehicle to our workshop and get a better rate on services and repairs.
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What you need to qualify if you're self employed?Requirements Director’s identity Company Documents 6 months bank statements Company Profile
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Why is the initial fee non-refundable?Because it already gives you the benefit of a reduced monthly rental rate. This means you pay less per month. If the initial fee is taken out of the calculation, the client will pay a daily rental rate as established by rental companies in the market (not taking the initial fee into consideration).
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How do I benefit from the insurance?Banrep fleet insurance is comprehensive.
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How much must I earn to qualify for a vehicle at MSI Dealership?Approvals are based on affordability. We take into consideration all your expenses, and your approval is based on the money/income you have left over (money you keep after deductions). Therefore, you must supply us with full 3 months bank statements that correspond with your pay slips.
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How does it work?If you do not qualify for bank finance, we give you an alternative option, rent to buy. During the rental agreement period you have the option to buy the vehicle at a discounted price if all the terms and conditions were met during the rental period. You earn loyalty points with your monthly payment and if all related fees are paid on time. These loyalty points will become the discount on the "buy option" of the vehicle. With this understanding, there is not a settlement applicable, but only an outright purchase at a discounted price, this is a separate transaction after the rental agreement is terminated/cancelled.
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What you need to qualify if you're employed?Requirements Valid RSA ID & Driver’s license 3 Months bank statements 3 Months pay slips Proof of residence Reside within a 160km radius from Johannesburg Start-up fee of at least R20 000 Trade-ins are welcome
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