MFC Car Finance is an authorised financial services and registered credit provider which is a division of Nedbank. Nedbank Vehicle Finance was renamed MFC following a merger between Motor Finance Corporation and Nedbank Vehicle and Assest Finance in October 2010. The merger added real value to Nedbank’s vision to be Africa’s most admired bank by their clients, stakeholders, regulators and communities. MFC Car Finance has assisted many South Africans drive their dream cars over the years. If you have a dream car that you are looking to finance make use of MFC and make your dream a reality.
MFC Car Finance will offer you an added benefit of fast, efficient and simple service. They are also well-known for being great at listening, understanding the client’s needs and delivering. As a client you are empowered by getting all the information you need to make the right choice. As a client you can choose one of the many finance options available to you. The option you choose will depend on your financial goals and lifestyle.
MFC Car Finance Options
- MFC Car Finance Instalment Agreement Option – This offers you a financial facility to purchase a vehicle that is selected by you and is purchased by the bank. The bank then sells the vehicle to you over a negotiated period at an agreed interest rate.
- MFC Car Finance Balloon Payment Option – This offers you the benefits of reduced monthly repayments with a lump sum repayment at the end of the agreement period. The lump sum is the one referred to as the balloon payment. At the end of the agreement you can either apply to refinance the balloon payment for a further period, pay the full balloon payment and take ownership of the car or sell the vehicle.
- MFC Car Finance Rate Payment Option – You can select either the Linked-rate option or the Fixed-rate option.
Benefits of MFC Car Finance include world class service from one of the biggest vehicle financier in the retail market. You will have peace of mind knowing that your finance is backed by one of South Africa’s top four banks. MFC has partnerships with Imperial, AMH, Hyundai, Kia and Auto Pedigree. You can deal with any one of their over 2400 approved dealerships.
How To Get MFC Car Finance In 6 Easy Steps
- Know What you can Afford – Make use of the handy calculators on the MFC website to know what you can afford and what your instalment will be. Remember to take into consideration insurance and registration costs
- Find A Car – This is the fun part where you get to shop for your car. You can take a look at the MFC accredited dealers and go for test drives.
- Apply for Finance – The next step is to obtain application forms and completing them. Application forms can be obtained from the dealerships or you can also download them from the MFC website
- Get Insurance – Before taking delivery of your car it is compulsory to arrange comprehensive insurance on the vehicle
- Sign the Contract – Before you can drive away in your new car you will need to sign a release note (acceptance of delivery) confirming that you have taken delivery and that you are happy with the car.
- Drive Away – You can now drive away and enjoy your car.
Documents Required To Apply For MFC Car Finance
- Copy of your ID
- Copy of your driver’s licence
- Proof of Income
- Proof of residence
MFC Car Finance Contact Details
Telephone: 0860 111 159