Frequently Asked Questions

Need more information about Gomo or our vehicle financing & insurance solutions? Our FAQ section has you covered.

General

How is Gomo different?

As one of the fastest growing vehicle finance houses, we strive to provide you, our valued customer, outstanding service and innovative features that sets us apart from the rest. With the ability to quickly adapt to the market needs, you can be assured of competitive interest rates and experience innovation as it goes live. Our insurance option (Total Loss Only) protection gives you an alternate affordable option on car insurance, this being one of the few innovations that make us different and focused on you, and your needs.
As one of the fastest growing vehicle finance houses, we strive to provide you, our valued customer, outstanding service and innovative features that sets us apart from the rest. With the ability to quickly adapt to the market needs, you can be assured of competitive interest rates and experience innovation as it goes live. Our insurance option (Total Loss Only) protection gives you an alternate affordable option on car insurance, this being one of the few innovations that make us different and focused on you, and your needs.
Our insurance option (Total Loss Only) protection gives you an alternate affordable option on car insurance, this being one of the few innovations that make us different and focused on you, and your needs.

I can’t afford to keep my car. What do I do?

Make contact with our Call Centre (0800 347 247) and discuss options with our friendly consultants.

My car has broken down and is not in use. Do I still pay my instalments?

Once you have entered into an agreement of finance, it is your obligation to continue to pay your instalment until the vehicle is settled in full. Your vehicle warranty may cover the issue, therefore you will have to make contact with them or the dealer you purchased the vehicle from.
Once you have entered into an agreement of finance, it is your obligation to continue to pay your instalment until the vehicle is settled in full. Your vehicle warranty may cover the issue, therefore you will have to make contact with them or the dealer you purchased the vehicle from.
Your vehicle warranty may cover the issue, therefore you will have to make contact with them or the dealer you purchased the vehicle from.

Finance

Do I need comprehensive insurance to get finance?

At Gomo, we strongly recommend comprehensive insurance coverage for your vehicle, as it provides the most comprehensive protection in the event of an accident, theft, or other unforeseen circumstances. However, we understand that budget constraints can sometimes make this type of coverage seem out of reach. That's why we also offer a more affordable Total Loss insurance product that provides a good level of protection at a lower cost. This product is ideal for those who want to protect their vehicle but may not require the full coverage provided by comprehensive insurance. No matter which option you choose, our goal is to help you find the right insurance coverage to meet your specific needs and budget.
At Gomo, we strongly recommend comprehensive insurance coverage for your vehicle, as it provides the most comprehensive protection in the event of an accident, theft, or other unforeseen circumstances. However, we understand that budget constraints can sometimes make this type of coverage seem out of reach. That's why we also offer a more affordable Total Loss insurance product that provides a good level of protection at a lower cost. This product is ideal for those who want to protect their vehicle but may not require the full coverage provided by comprehensive insurance. No matter which option you choose, our goal is to help you find the right insurance coverage to meet your specific needs and budget.
This product is ideal for those who want to protect their vehicle but may not require the full coverage provided by comprehensive insurance. No matter which option you choose, our goal is to help you find the right insurance coverage to meet your specific needs and budget.

Where is Gomo finance available?

Our vehicle finance product is currently only available at selected 'WeBuyCars' dealerships, but we have plans to expand its reach in the near future. Our goal is to provide as many customers as possible with access to affordable and flexible financing options when they're ready to purchase a vehicle. We are continuously working to build new partnerships and expand our network, so stay tuned for updates on our progress. In the meantime, if you're in the market for a vehicle and would like to take advantage of our financing options, be sure to visit one of our participating dealerships.
Our vehicle finance product is currently only available at selected 'WeBuyCars' dealerships, but we have plans to expand its reach in the near future. Our goal is to provide as many customers as possible with access to affordable and flexible financing options when they're ready to purchase a vehicle. We are continuously working to build new partnerships and expand our network, so stay tuned for updates on our progress. In the meantime, if you're in the market for a vehicle and would like to take advantage of our financing options, be sure to visit one of our participating dealerships.
We are continuously working to build new partnerships and expand our network, so stay tuned for updates on our progress. In the meantime, if you're in the market for a vehicle and would like to take advantage of our financing options, be sure to visit one of our participating dealerships.

What is DebiCheck?

DebiCheck is a specific type of debit order that requires a once-off electronic confirmation at the start of the agreement. It allows you to confirm the details of the debit order with your bank before it is collected from your bank account. DebiCheck has been endorsed by the South African Reserve Bank (SARB) and the Payment Association of South Africa (PASA). For more information about DebiCheck click here
DebiCheck is a specific type of debit order that requires
a once-off electronic confirmation at the start of the agreement. It allows you to confirm the details of the debit order with your bank before it is collected from
your bank account. DebiCheck has been endorsed by the South African Reserve Bank (SARB) and the Payment Association of South Africa (PASA). For more information about DebiCheck cli
DebiCheck has been endorsed by the South African Reserve Bank (SARB) and the Payment Association of South Africa (PASA). For more information about DebiCheck click here

Why is my instalment different to what I signed for?

You may have received a message via SMS and email requesting updated proof of insurance. This is for your protection, as a vehicle needs to be insured at all times. If we did not receive this updated proof, we may have added our TLO (Total Loss Only) Cover. Provide us with proof of cover and we will be happy to cancel and refund you any additional premiums charged for insurance.
You may have received a message via SMS and email requesting updated proof of insurance. This is for your protection, as a vehicle needs to be insured at all times.
If we did not receive this updated proof, we may have added our TLO (Total Loss Only) Cover. Provide us with proof of cover and we will be happy to cancel and refund you any additional premiums charged for insurance.
Provide us with proof of cover and we will be happy to cancel and refund you any additional premiums charged for insurance.

Why is my settlement/balance so much more than the car price?

Interest is added to your finance account and calculated over the term. Upon requesting a settlement or statement you will see a different balance/amount which shows you how much interest is being paid on finance.

Insurance

What is Total Loss Only (TLO)?

Total Loss Only: Cover in event of you suffering a total loss of your vehicle. A vehicle is considered a total loss if the cost to repair the damage to the vehicle exceeds 70% of the Retail value of the vehicle, or it is stolen or hijacked and not recovered.

When will TLO be offered to a client?

The Gomo TLO cover is available to all Gomo clients as an alternative to normal comprehensive cover. The cover is limited to total loss events and is not comprehensive cover.

What is the value covered by TLO?

The insurance covers the greater of the retail value or the total outstanding amount on the vehicle.

What is the turnaround time for valid claim payout?

The claim will be paid within 7 business days after all required documentation received from the client.

How do I pay my TLO premium?

Your TLO premium will be included in your monthly Gomo Finance Instalment.

Are there any other exclusions or limitations?

For more information on exclusions and limitations click here.
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GOMO Finance Solutions (Pty) Ltd is a registered credit provider – NCRCP 17239. Insurance products are underwritten by Guardrisk Insurance Company Limited, a licensed non-life insurer and registered financial services provider (FSP 75) and distributed and administered by Mobalyz Risk Services (Pty) Ltd (FSP29354).

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©Gomo. All rights reserved | Gomo Customer Service | Call us: 0800 347 247 | Email: care@gomo.co.za
©Gomo. All rights reserved
‍Gomo Customer Service
‍Call us: 0800 347 247
‍Email: care@gomo.co.za