The Heavy Hitters are made up of the wealthiest 5% of the South African population, with an average monthly income of R33k. This group makes up 64% of the total Vehicle Asset Finance (VAF) loans by numbers and 73% of total loans by value in South Africa, with an average opening balance of R344k. However, almost 1 in 10 VAF holders have defaulted on their loan this quarter, which is up from 1 in 20 defaulting 2 years ago.
To read more about the Eighty20 ENS Customer Profiling Tool click here: https://bit.ly/2XtwCcU
(https://bit.ly/3k9jUr8)