Nedbank Car Loan – Affordable Vehicle Finance

Overview

To get access to a Nedbank Car Loan, all you need to do is visit the MFC website on www.mfc.co.za

Vehicle finance is offered via MFC, a division of Nedbank. The institution will only finance vehicles older than 10 years in exceptional cases. The Nedbank Car Loan is available from R20 000 to R120 000 

Nedbank Car Loan options:

Instalment Agreement– best suited to individuals who wish to retain ownership of the vehicle.

Lease Agreement– clients are provided with uninterrupted use of a vehicle rather than ownership of the vehicle. This type of vehicle finance is best suited to car allowance users as well as small businesses using vehicles which are likely to become obsolete or which are replaced on a regular basis.

Balloon Payment option

Rate Payment option

How to get a Nedbank Car Loan:

Know what you can afford

You need to take into account other factors such as comprehensive insurance costs.

Find a car

Apply for finance.

Visit your nearest Nedbank branch or visit the MFC website to apply. You’ll need to provide your valid ID copy, a copy of your drivers’ licence and proof of income. Further qualifying criteria:

• Be permanently employed
• Earn a minimum monthly salary of R3200 per month
• Have a salary paid into your bank account
• Be contactable by telephone

Get insurance

Types of insurance you can get include: 

• Comprehensive Cover- this is the most extensive type of cover
• Third Party, Fire and Theft- this cover is less expensive and pays for any third party damage. Your own car is not covered in the event of an accident however.
• Third Party Only – this is the most basic cover

Sign the contract

Drive Away

Factors that are taken into account when quoting a Nedbank Car Loan rate: 

• Your previous track and credit record
• The type of asset requiring finance
• The deposit amount

For more information about the Nedbank Car Loan, call: 0860 879 900