MFC car finance

First established in 1831 Nedbank has been winning the hearts of South African clients by continuing to display dedication to their client’s and providing the best service they can.
As part of this dedication the Nedbank group introduced MFC as a division dedicated to assisting clients with all their vehicle financing needs.
This institution has made it easier for its clients to get financial assistance by providing an easy step by step guide on how to get financing.

Step 1. Know what you can afford. The institution offers online services which will help clients figure out just how much they can afford and work out their monthly instalments.

Step 2. Once you know how much you can afford. All you need to do is find a car you like. Find out if you can afford it and once you know that you can proceed. Whether you want to purchase your vehicle through a dealership, privately or at an auction. They have qualified consultants ready to help you.

Step 3. Now you apply for financing. As soon as you have chosen a car and are aware of all the finance options available, you can go to your selected dealership and ask them for an MFC application form. Fill it out and attach the following copies:

  • ID
  • Drivers License
  • Proof of income including payslips from the last three months
  • Recent proof of residence

Clients wanting to purchase a car through private sales, have an opportunity to do so. The institution offers you assistance by conducting administration, verification and re-registration of the vehicle. This is to ensure that the seller has a multipoint checked and make sure the vehicle has been approved as roadworthy, ensure that the vehicle has an existing warranty and if it does not help you acquire one.
Please note that you do not have to hand in your application form personally into MFC offices. Your dealer will submit your application to the institution on your behalf. This is to ensure that the institution negotiates with the dealership at dealer level. In order for you to get the best deal.

Step 4. Getting the right insurance is very important. Before receiving your vehicle you will need to arrange for comprehensive vehicle insurance. This is compulsory and the insurance must run for the term of your contract.
This institution offers a variety of insurance options from funeral, accidental & health and car insurance. To find out more about these options visit www.nedbankinsurance.co.za
Their motor vehicle insurance offers a range of cover options including comprehensive, third-party, fire and theft and third party only insurance.
They also cover costs of breakdowns, emergency repairs as well as replacing the keys and locks of your vehicle.

Step 5. The second last step of purchasing your car is signing an acceptance of delivery upon delivery of the car. This serves as proof of you receiving the vehicle and being satisfied with it.

Step 6. The final step would be for you to enjoy your new pride and joy.

If you would like to get your own car in just 6 easy steps, call 0860 879 900. Operators available from Mon- Fri, from 08:00 -16:30 and on Sat from 08:00-12:00.
Alternatively you can visit www.mfc.co.za

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