A published upper limit describes a product range, not an entitlement. Work out the smallest amount that meets the expense before asking what the provider might offer.
What to check
- Expense quote
- available cash and the repayment you can sustain
Ask for the amount actually paid out, every required payment and its due date. Put two quotes on the same basis before choosing.
A decision to avoid
Borrowing to the advertised maximum simply because it is displayed.
A calculation you can check
Illustration only: cash received R2 000; three payments of R750; a separate required charge of R50. Total paid = 3 × R750 + R50 = R2 300. Difference from cash received = R2 300 − R2 000 = R300. This difference is not an annual interest rate. Include the charge only if it is outside the three payments; do not count it twice.
Questions about this decision
What should I check first?
A published upper limit describes a product range, not an entitlement. Work out the smallest amount that meets the expense before asking what the provider might offer.
Which information do I need for this decision?
Expense quote, available cash and the repayment you can sustain.
Which mistake should I avoid here?
Borrowing to the advertised maximum simply because it is displayed.
How do I check expense quote?
Locate the actual dated record for Expense quote. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
How do I check available cash and the repayment you can sustain?
Locate the actual dated record for available cash and the repayment you can sustain. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
What should I do if a required detail is missing?
Mark it as unresolved. Ask for that precise detail before choosing; do not substitute an advertised example for your own document.
What is the next practical step?
Ask for the amount actually paid out, every required payment and its due date. Put two quotes on the same basis before choosing.
How can I verify the explanation?
Use the documents listed above. Check quoted amounts and dates in the original record; use the official reference links for the organisation’s guidance.
