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Motor Finance Calculator

Motor Finance

If 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 you.

Application Process

  1. Calculate

    Find out what you can afford

  2. Find an Accredited MFC dealer

    Visit www.mfc.co.za

  3. Choose a Finance Option

    Choose an option that suits you

  4. 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

  5. Arrange Insurance

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

  6. Sign the contract

    Sign the contract and a release note confirming you are happy

  7. 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).

Lease 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

    • Full rental if you are a tax-orientated client.

  • Ownership

    • Please contact your accountant to discuss the various options you have to suit your personal financial needs at the end of term.

  • 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 200K).

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.

MFC Contact details to go under contacts as well.

Contact us

Call us on 0860 111 159

Operations Physical Address:
MFC a division of Nedbank
6E Herman Road
Meadowdale
Edenvale

Postal Address:
P.O. Box 4005
Edenvale
1610

Head Office Physical Address:
Nedbank Ltd
135 Rivonia Road
Sandown
Sandton

General Enquiries:
Client Care: 0860 879 900
Email: care@mfc.co.za

MFC Complaints:
Email: complaints@mfc.co.za

Nedbank Ltd Reg No 1951/000009/06. We subscribe to the Code of Banking Practice of The Banking Association South Africa and, for unresolved disputes, support resolution through the Ombudsman for Banking Services. We are an authorised financial services provider. We are a registered credit provider in terms of the National Credit Act (NCR Reg No NCRCP16).