Nedbank Car Finance (known as MFC Finance) provides finance for vehicles up to 20 years old. The finance amounts individuals may qualify for are from R20 000 to R200 000.
Flexible repayment periods of 36, 48 or 60 months are offered, giving individuals an option to repay their loan at their own pace. As a way of making the process easier, Nedbank offers a handy Car Finance tool. This calculator can be used by individuals before they make they buy a car. It can help potential buyers to make an informed decision.
How the Nedbank Car Finance Calculator works:
There are mainly two types of car finance calculators available:
- Loan Repayment Calculator
- Budget Calculator
The loan repayment calculator lets you calculate your monthly instalment based on the vehicle price, the deposit you can afford to put down and a preferred repayment period.
Fill in the following details:
Purchase Price
Total Deposit
Interest Rate (%)
Term (months)
We all have various needs that we must cater for on a monthly basis. Having budget can always go a long way towards curbing unnecessary spending.
The Budget Calculator from Nedbank Car Finance helps you work out how much of your budget you can put towards loan repayments every month.
You simply enter your monthly income after taxes and subtract your monthly expenses. The remaining balance is an estimate of what you can possibly put toward your monthly motor finance payment.
It’s important to take insurance and registration costs into consideration.
What are the qualifying criteria for Nedbank Car Finance?
- Be permanently employed
- Earn a minimum monthly salary of R3200 per month
- Have a salary paid into your bank account
- Be contactable by telephone
- Provide a valid South African ID copy
- Provide a copy of your drivers’ licence
- Provide proof of income
- Provide proof of residence
If you need any assistance using the Nedbank Car Finance Calculator, call: 0860 879 900