Nedbank Motor Finance

Nedbank Motor Finance

Motor FinanceIf you are looking for motor finance, you’ve come to the right place. MFC, a division of Nedbank, prides itself on offering a single-minded focus on motor finance. Our approach is that of offering you an added benefit of fast, efficient and simple service. As a client you can choose one of the many finance options available to yoApplication Process

Calculate
Find out what you can afford 

Find an Accredited MFC dealer
Visit www.mfc.co.za 

Choose a Finance Option
Choose an option that suits you

Apply for Finance 
Complete the MFC finance application form at the dealer or download from www.mfc.co.za and contact us on 0860 111 159

Be sure to take the following documents with you to your dealership:

Copy of your ID

Copy of your drivers licence

Proof of income

Proof of residence, such as a utility bill (no older than two months)

Arrange Insurance
You will need comprehensive insurance on the vehicle. Visit www.mfc.co.za

Sign the contract
Sign the contract and a release note confirming you are happy 

Drive Away
Drive away with miles of smiles!Instalment Agreement

• Deposit
  Subject to individual credit risk
• Period 
  Period Minimum 24 months; maximum 72 months
• Balloon payment 
  Can be structured into agreement.
• Holiday payment
  Can be structured into agreement.
• Tax
  Depreciation if you are a tax-orientated client.
• Ownership
  Automatically passes to you once you have repaid all the instalments.
• Interest Rate
  Market-related rates will apply, which could be a fixed or a linked interest rate
• Settlement
  Early-settlement option is available.No penalty on small and intermediate agreements (Under R200k).

Payment Options

Balloon payment option
The balloon payment option offers the benefit of reduced monthly repayments, with a lump sum repayment (referred to as the balloon payment) at the end of the agreement period.

• Lower monthly payments for improved cash flow.
• Flexibility to refinance, trade in or take ownership of the vehicle.

Rate options

MFC offers you the flexibility to select from one of two rate options:

Linked-rate option
The Linked Rate Option provides you with the potential benefits of fluctuating interest rates.  In the event that the interest rate increases during the agreement period, your interest rate and therefore your repayments will increase accordingly. The reverse also applies – if the interest rate decreases during the agreement period, you will benefit from lower corresponding repayments.

Fixed-rate option
The fixed-rate option provides you with peace of mind in terms of fluctuating interest rates. In the event that the interest rate increases during the agreement period, your repayments will not be affected and your interest rate will remain the same. The reverse also applies – if the interest rate decreases during the agreement period, your instalment will still remain the same. You will not benefit from the lower rates.