Important disclosure

FNB Vehicle Finance

FNB, also known as First National bank, is a division of the First Rand Bank, and it is among the oldest banks in South Africa. Apart from banking services, the bank also offers FNB vehicle finance and FNB business vehicle finance.

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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.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)9.00%

Vehicle finance APR9.00%

Monthly repayments (approx)R2,146

Total repayments (approx)R128,760

Total interest repayments (approx)R28,760

Rate typeFixed

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

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Buy or sell a vehicle privately. Finance a vehicle up to 20 years old. Finance a vehicle for at least R30 000 after deposit. Retrenchment Policy: Pays up to 9 monthly instalments when you are involuntarily retrenched and remain unemployed. Courtesy Car Policy: Pays for the use of a courtesy car for up to 21 days if your car is stolen, written off or damaged. The interest rate is tailor made to suit you. Within 30 minutes you'll get an answer on the outcome of your application.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)9.00%

Vehicle finance APR9.00%

Monthly repayments (approx)R2,146

Total repayments (approx)R128,760

Total interest repayments (approx)R28,760

Rate typeFixed

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

Hide info -

Finance your new or used leisure vehicle such as classic car, motorbike, boat or caravan. Finance to buy a leisure vehicle from a dealership. You have a choice of Fixed or Variable interest rates. Courtesy Car Policy: Pays for the use of a courtesy car for up to 21 days if your car is stolen, written off or damaged. The interest rate is tailor made to suit you. Within 30 minutes you'll get an answer on the outcome of your application.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed or Variable

Secured or unsecuredSecured

GO TO First National Bank

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0861 113 010

Data accurate as of18.01.2020

Minimum monthly incomeR6,000

GO TO First National Bank

Hide info -

Calculate your affordability and apply for the loan you need for a new or pre-owned car, motorbike, boat, caravan or microlight.

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR200,000

Minimum term (months)12 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)10.25%

Vehicle finance APR10.25%

Monthly repayments (approx)R2,208

Total repayments (approx)R132,480

Total interest repayments (approx)R32,480

Rate typeFixed

Secured or unsecuredSecured

GO TO Standard Bank of South Africa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesNo

SponsoredNo

Telephone0860 123 000

Data accurate as of18.01.2020

Minimum monthly incomeR8,000

GO TO Standard Bank of South Africa

Hide info -

Get a principal decision within 24 hours if all necessary documents have been provided.

Overview

Initiation feeR1,207.50

Minimum loan amountR30,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)240 months

Vehicle Finance interest rates (base)12.25%

Vehicle finance APR12.25%

Monthly repayments (approx)R2,295

Total repayments (approx)R137,700

Total interest repayments (approx)R37,700

Rate typeFixed

Secured or unsecuredSecured

GO TO Mercantile Bank

Other Fees & Information

Monthly feeR57.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 11 99 25

Data accurate as of18.01.2020

Minimum monthly incomeUnknown

GO TO Mercantile Bank

Hide info -

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

Overview

Initiation feeR1,207.50

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)24 months

Maximum term (months)72 months

Vehicle Finance interest rates (base)12.50%

Vehicle finance APR12.50%

Monthly repayments (approx)R2,320

Total repayments (approx)R139,200

Total interest repayments (approx)R39,200

Rate typeFixed

Secured or unsecuredSecured

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Other feesR0.00

Missed payment feeUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee

For used vehiclesYes

SponsoredNo

Telephone0860 100 372

Data accurate as of18.01.2020

Minimum monthly incomeR2,000

GO TO Absa

Hide info -

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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.

What type of car loan are you looking for?

Discover important details about FNB vehicle finance

The FNB car finance application is made online, and there are several requirements that you have to meet.

Benefits of the FNB car finance include:

  • Competitive interest rates as low as 10.25%
  • You can borrow as much as R300 000
  • Maximum repayment term of 72 months

Read on to discover more useful details about getting the best FNB vehicle finance option for you.

FNB vehicle finance: What are the options?

FNB vehicle finance comes in the form of three different packages. Depending on whether you qualify or not, you can either choose one of the following:

  • Dealership finance
  • Private vehicle finance
  • Leisure finance

FNB dealership finance

It is a tailor-made service that offers the following:

  • Two interest rate options: A fixed or variable interest rate.
  • FNB gives you a reasonable balloon payment or residual value that matches your agreement choice.

What you can do with FNB’s dealership finance:

  • You can buy a car from a South African dealership.
  • The car you buy should not be older than 10 years.
  • This type of finance offers at least R30 000 once you make the car deposit.
  • Before you make your FNB online application for vehicle finance, you can plan your repayments using the calculator on this page. It takes into account the loan terms and the given vehicle loan amount.

How to add more value to your FNB dealership finance loan

Retrenchment Policy: This policy can pay up to 9 monthly instalments when you are involuntarily retrenched, and you haven’t found another job yet.

Deposit Protector: It pays back your deposit if your vehicle is stolen or written off.

Courtesy Car Policy: If you sign up for this option, you can use a courtesy car for up to 21 days when your FNB financed car is stolen, damaged, or written off.

Access to vehicle auctions: This option allows you access to regular car auctions. You get the opportunity to bid on different types of cars that will be available. If you find a car that you are interested in, you can apply for vehicle finance for that particular car.

Features of FNB dealership finance

  • A tailor-made interest rate.
  • Quick application turnover; FNB only takes about 30 minutes to give you the results of your application.
  • You can buy pre-loved cars, but the bank has to assess and approve of the car first. The option is to buy cars that are 10 years old or less.
  • You can either choose between an installment sale or a lease agreement. With an installment sale, the car belongs to the bank until you finish paying off the loan. The monthly installments are made over an agreed-upon period. Once you finish paying, the car is fully yours. The lease option allows you to use a car without outright ownership. You have the opportunity to buy the car when the lease agreement expires.

Insurance options available with dealership finance

Comprehensive Insurance: Protects both the customer and FNB.

Cover Plus: Covers the remaining loan amount as well as the insurance payout.

Customer Protection Plan (CPP): Covers the borrower upon permanent disability or death.

Vehicle Warranty: Covers the cost of any mechanical breakdown that occurs after the manufacturer’s warranty expires.

Dealership finance requirements

  • You should be permanently employed.
  • You have to be above the age of 18.
  • The applicant should have a valid driver’s license.
  • Your monthly income should be more than R6 000, and you should have a clear credit record.

What documents do you need for FNB dealership finance?

  • Proof of income: three latest payslips;
  • A signed declaration under the NCA;
  • A valid, government-issued South African ID;
  • South African driver’s license; and
  • Proof of residence.

If you are a non-South African, you can submit your valid passport, international driver’s license, and permits. However, if you’re a refugee in South African, you cannot apply for vehicle finance.

FNB Private Vehicle Finance

Private vehicle finance allows you to either buy or sell a car privately. With this option, you can finance a car that is not more than 20 years old. It allows you to finance your car for at least R30 000 after deposit.

Here’s how to add more value to your private vehicle finance loan

  • Retrenchment Policy: This option pays up to 9 monthly instalments if you are involuntarily retrenched, and you haven’t found another job.
  • Deposit Protector: The bank will pay back your deposit if your car is stolen or written off.
  • Courtesy Car Policy: FNB will cover your cost for the use of a courtesy car for up to 3 weeks if your car is stolen, damaged or written off.

Private vehicle finance features:

  • The interest is designed to suit your specific financial needs.
  • Application feedback is instant: You will get your decision in 30 minutes.
  • FNB handles the registration of the car.
  • FNB also handles the registration from the buyer.
  • Access to countrywide testing stations.
  • Choose to get a fixed or variable interest rate.
  • Choose between instalment sale or lease agreement.
  • It allows you to buy privately.
  • FNB Vehicle finance private sale option is available.

Your insurance options

The insurance options for private vehicle are quite similar to those for dealership finance:

Comprehensive Insurance: Protects both the customer and FNB.

Cover Plus: Covers the outstanding loan amount and the insurance payout.

Customer Protection Plan (CPP): Covers the borrower upon permanent disability or death.

Vehicle Warranty covers any mechanical breakdown that occurs after the manufacturer’s warranty expires.

FNB private vehicle finance requirements

  • You should be permanently employed.
  • You should be above the age of 18 with a South African or international driving license if you are a foreign national.
  • Your salary should be above R6 000 a month, and you should have a clear credit record.

Documents required for FNB private vehicle finance

  • Proof of income: three latest payslips;
  • A signed declaration under the NCA;
  • A valid, government-issued South African ID;
  • A South African driver’s license;
  • Proof of residence;
  • An application for a certificate of roadworthiness;
  • Application for licensing of motor vehicle;
  • An application for licensing and registration of motor vehicles;
  • Application in respect of license number for motor vehicles;
  • Notification of change of car ownership or the sale of motor vehicle; and
  • An application and notice in respect of business register number.

If you are a non-South African, you can submit your valid passport, international driver’s license, and permits. Refugees should not apply for the private vehicle finance option

FNB leisure vehicle finance

This option provides finance for the purchase of a leisure vehicle like a motorbike or boat.

You can also choose to get a fixed or variable interest rate. You can buy caravans that are as old as 20 years but at the discretion of the bank. It also allows you to purchase motorbikes from a dealership or privately.

How to add more value to your private vehicle finance loan

  • Retrenchment Policy: This option pays up to 9 monthly instalments if you are involuntarily retrenched, and you haven’t found another job
  • Deposit Protector: The bank will pay back your deposit if your car is stolen or written off
  • Courtesy Car Policy: FNB will cover your cost for the use of a courtesy car for up to 3 weeks if your car is stolen, damaged or written off

Leisure vehicle finance features

With an FNB car finance application:

  • You get a tailor-made interest rate.
  • Instant application feedback, you can get your loan decision in about 30 minutes.
  • You can choose between a variable or fixed interest rate.
  • You can also choose between an instalment sale or lease agreement.
  • It allows you to buy or sell privately

Insurance options

Comprehensive Insurance: Protects both the customer and FNB.

Cover Plus: Cover the remaining loan balance and the insurance payout.

Customer Protection Plan (CPP): Covers the borrower upon permanent disability or death.

Vehicle Warranty: Covers any mechanical breakdown that occurs after the manufacturer’s warranty expires.

FNB Leisure vehicle finance requirements

  • You have to be employed permanently.
  • You must be above the age of 18 with a valid South African driver’s license or international driver’s license if you are a foreign national.
  • Your monthly salary should be above R6 000.

What documents do you require for an online application for vehicle finance?

  • Your proof of income: three latest payslips;
  • A signed declaration under the NCA;
  • A valid South African identity document;
  • A South African driver’s license;
  • Your proof of residence – utility bill is acceptable;

If you are a foreign national, you should submit your valid passport, international driving license, and permits. Refugees will not be approved.

FNB car repair personal loan

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