Motor - FAQ's For Vehicle Refinance

What are the Benefits of Refinancing?
  • Lower monthly instalments
  • Possible lower interest rates
  • Skip an instalment (45-60 days before your first instalment)
  • Better cash liquidity
How does it Work?
  • We process your completed application form
  • Upon bank approval we discuss your options
  • With your final go-ahead we arrange and have the contract signed
  • We then settle your existing finance and handle all the necessary transfers
  • You start paying your new (lower) instalment up to 45-60 days later
What are the Qualifying Criteria?
  • Your vehicle should not be older than 10 years.
  • You have a valid driver's licence.
  • You are not listed for bad debt.
  • Your vehicle is roadworthy, has not been rebuilt and is not a "Stolen and Recovered" vehicle.
What Paperwork is Necessary?
  • Your green bar-coded ID
  • Your valid driver's licence
  • Your proof of income
  • Your proof of address (For FICA purposes)
  • Your vehicle is roadworthy certificate (only necessary upon signing of contract)
Is it Safe?
  • Absolutely. We treat your personal information with the utmost confidentiality.
  • The finance is done through a major South African financial institution.
  • We do not earn or charge anything until the successful conclusion of your new finance deal and the successful settlement of your old finance contract
  • We handle all the registration documents and transfers for you
When do I pay my First Instalment?
  • Since we settle your current finance, depending on the date you signed your new contract your first instalment will only be about 45-60 days later.
When is Refinancing most Effective?
  • When your current finance was done at a high interest rate (fixed or linked rate)
  • When you've been paying your current vehicle finance instalments for at least a year or two or longer
  • When the term is increased as well as interest rate bettered

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