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Car Finance in Cape Town

Are you in Cape Town and looking to finance your car purchase? Whether it’s a new or used vehicle, CompareLoans can help you find the best car deals in town.

Simply input the loan amount and duration, hit “Calculate Repayments”, and browse through the displayed lenders.

Calculate repayments

MFC Vehicle Finance

MFC
12 months
to 96 months
R10,000
to R300,000
10.00%
APR
Whether you're buying a through an MFC approved dealer or privately, MFC can assist; for cars up to 10 years old or in some cases classic cars. Apply through Fincheck to be matched with the right vehicle finance provide for you.

RCS Vehicle Finance

RCS
12 months
to 72 months
R10,000
to R550,000
10.00%
APR
RCS are second-hand car finance specialists. Interest rates from prime* over 72 months. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Fincheck Vehicle Finance Broker

Fincheck
12 months
to 72 months
R10,000
to R250,000
10.25%
APR
Go through Fincheck's online application to get matched with loan provider that's most suitable for you.

MFC Vehicle Finance

MFC
12 months
to 96 months
R10,000
to R300,000
10.00%
APR
Whether you're buying a through an MFC approved dealer or privately, MFC can assist; for cars up to 10 years old or in some cases classic cars. Apply through Fincheck to be matched with the right vehicle finance provide for you.

RCS Vehicle Finance

RCS
12 months
to 72 months
R10,000
to R550,000
10.00%
APR
RCS are second-hand car finance specialists. Interest rates from prime* over 72 months. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Standard Bank -Financial lease

Standard Bank of South Africa
12 months
to 84 months
R20,000
to R200,000
10.25%
APR
Lease the vehicle you want, over an agreed period, with the option of owning it at the end of your financial lease. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Fincheck Vehicle Finance Broker

Fincheck
12 months
to 72 months
R10,000
to R250,000
10.25%
APR
Go through Fincheck's online application to get matched with loan provider that's most suitable for you.

Wesbank Vehicle Finance

Wesbank
12 months
to 96 months
R10,000
to R300,000
13.00%
APR
Wesbank provide a range of value-added services that make it that much easier to own, drive and personalise your vehicle. Apply through Fincheck to be matched with the right vehicle finance provide for you.
What Dealership Finance offers: A tailor-made vehicle finance solution. Choice of fixed or variable rate. A reasonable balloon payment or residual value to match your agreement choice. What this allows you to do: Buy a vehicle from a dealership. Buy a vehicle up to 10 years old. Finance a vehicle for at least R30 000 after deposit.
Experience the joy of owning your car while you are paying it off with our flexible instalment sale agreement. Own the vehicle while you are paying it off. Reduce your monthly payments by choosing a balloon payment or by paying a deposit. Choose a monthly repayment from 24 - 72 months. Fixed or variable interest rates available
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Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

Car loans and car finance in Cape Town – South Africa

Where can you get a car loan in Cape Town?

You can start by looking at our comparison tables above. The information displayed includes interest rates, loan terms, loan amounts and estimated monthly instalments for each featured lender. For more detailed product information, browse through our list of popular vehicle finance lenders and click on the one you’re interested in.

How does car finance work in Cape Town?

  • Loan amount. Car finance borrowing limits are typically between R10 000 and R300 000.
  • Loan term. You can make repayments over 12 months or up to a period of 84 months.
  • Monthly payments. Use our Cape Town car finance calculator to find out your estimated monthly payments. Adjust the sliders to input your loan amount and term, then click calculate.
  • Loan uses. Vehicle finance in Cape Town can also cover your boat, truck, jet ski, motorbike, or caravan purchase.
  • Deposit. A deposit of up to 20% of the car’s price might be required.

What are the types of car finance available in Cape Town?

  • Secured car loan. The car is used as collateral, which gives the lender permission to claim it back if you fail to repay.
  • Unsecured car loan. No collateral required, but you might have to pay a higher interest rate, and you need a good credit score.

What is the cost of vehicle finance in Cape Town?

The cost of borrowing a car loan includes the following:

  • Interest rate. Your rate can be fixed or variable. A higher credit score makes it easy to qualify for low-interest car finance.
  • Loan fees and charges. This includes a monthly service fee, initiation fee, as well as penalty fees for early or late payment.

What do you need to apply – General requirements

  • Driving licence;
  • Valid South African ID;
  • Bank statements and payslips; and
  • Proof of residence.

How to apply for car finance in Cape Town?

  1. Find the most suitable lender for you in the comparison tables above.
  2. Click the “Go to Site” button so you can visit the lender’s website and apply.
  3. Upon approval and after the credit check, you sign the loan contract.
  4. The lender pays your seller, and you collect your car or have it delivered.

Can you find blacklisted car finance in Cape Town?

Vehicle finance for blacklisted is available in Cape Town, but it is often associated with higher interest rates. If you have bad or low credit, you can improve your chances of approval by:

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