Important disclosure

Compare MFC Vehicle Finance in South Africa

MFC offer many options for vehicle finance. In order to help you navigate your way, we offer you a loan calculator that can help you compare your options.

Also, once you input the loan amount that you would like, use the filter to adjust the loan terms then click ‘Calculate Repayment’.

As a result, you will get a good idea of what your expected monthly payment will be for an MFC vehicle loan.

Calculate repayments

MFC Vehicle Finance

12 months
to 96 months
to R300,000
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.

MFC Vehicle Finance

12 months
to 96 months
to R300,000
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

12 months
to 72 months
to R550,000
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

12 months
to 72 months
to R250,000
Go through Fincheck's online application to get matched with loan provider that's most suitable for you.
results per page provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see's Terms of Use and Services Guide.

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.

Buy your dream car with MFC vehicle finance in South Africa

Get that dream car you need with quick help from MFC car finance today. MFC vehicle finance is a division of Nedbank and a trusted financial institution that offers first-class lending resources for South Africans looking to buy a car. When you approach MFC for a car loan, you can look forward to flexible loan terms, competitive interest rates, affordable repayments, plus more. Read about how using MFC services can increase your buying power so you can have the lifestyle you want.

How does MFC vehicle finance work?

MFC car finance pays for the vehicle of your choice and, in turn, you have to repay the loan in instalments. There are several finance options available:


This option spreads out your payments into fixed monthly payments that you make until the car is fully paid off. In addition to the loan amount used to pay for the vehicle, you also have to pay interest which is how MFC benefits from lending you the money.

Balloon payment

This option gives you a lower and more affordable monthly repayment. However, you have to then pay a lump sum at the end of your loan contract. The lump sum that you pay at the end is what’s known as a balloon payment. You can also choose to refinance the balloon payment if you can not manage to pay it all at once. That means you take out a new loan to cover the balloon payment and you start paying it back in instalments.

Deposit option

If you have future plans to buy a new or used car, you might already have savings available for it. You can use this money to place a deposit for the car. That means you’ll have to borrow a smaller amount which automatically reduces your monthly payments.

With all options, once you finish making payments, MFC will transfer the ownership of the vehicle to you. However, since this is a secured car loan, if you fail to make the payments as agreed, MFC can take the car away from you.

What is the MFC vehicle finance interest rate?

The National Credit Act (NCA) regulates the maximum interest rates that lenders may charge you. Since MFC is fully registered, they will always charge you market-related rates. In addition, you can receive a lower interest rate on your loan if you have a good credit score. You have two rate options to choose from:

  • Linked-rate – With this option, you get to take advantage of changing interest rates. If the interest rates decrease, this means that your monthly payment follow the same path and you pay less. On the other hand, if the rates increase, your monthly payment will go up, and you pay more.
  • Fixed-rate – With this option, your interest rate doesn’t change. The starting rate that you agreed on when you signed the loan contract remains the same throughout the life of your loan. The rates will not move if the current interest rates start fluctuating.

What are the requirements for MFC motor finance?

Before making your application check to see that you meet the following requirements:

Requirements for the car

  • Second-hand cars should not be older than 10 years;
  • When buying through a dealer, financing starts at R50 000 and above; and
  • The car should not be stolen, recovered, or rebuilt.

Required documents

  • Copy of your valid government-issued South African ID;
  • A copy of your driver’s licence;
  • Proof of Income – 3 latest salary slips or bank statements; and
  • Your proof of residence.

Basic requirements

  • Minimum age of 18 years;
  • Be permanently employed and receiving a regular, monthly salary;
  • Earn a minimum of R6500 per month;
  • Holder of a valid South African drivers licence without endorsements;
  • Be a citizen of South Africa or permanent resident; and
  • Have a good credit score since MFC will check your credit to make sure you’re able to make repayments.

Choose a loan you can afford with the MFC vehicle finance calculator

The MFC vehicle finance estimator is a valuable tool that allows you to shop for the right car using an affordable budget. Simply enter your loan amount and term to find out what the monthly instalments for your chosen car loan will look like. There are many benefits to using this tool. For starters, it helps improve the chances of approval of  your application, since you’ll be able to see the loan plan that suits your income. In the long run, your credit score will also improve because you will be able to afford your monthly repayments.

How to make an MFC finance application

The application process is easy! In the comparison tables above, click the “Go to Site” link to MFC. This redirects you to their application page where you can complete an online application form. You also have to mail the required documents to MFC after you submit the application form.

What happens if the loan is approved?

If the loan is approved, MFC will make the car payment after which you can collect your car or have it delivered. Before you start driving, you will have to sign confirmation documents indicating that the car has been handed to you and all is in order.

How to pay back an MFC loan

The loan repayment period ranges from a minimum of 12 months up to 72 months or 96 months in special cases. If you choose a shorter repayment period, it means your monthly instalments will be higher, but you will pay a lesser total amount in interest. You can also choose to settle your loan earlier than the agreed period since there are no fees associated with an earlier payment.

What are the benefits of MFC car finance?

  • The online application is easy, fast, and convenient;
  • You can get financing for a new or used car;
  • MFC offers flexible payment options since you can choose between the instalment option and the balloon payment option;
  • You can also get financing without having to make a deposit;
  • MFC is partnered with a lot of dealerships, so you have a lot of choices when it comes to which dealership you can buy from;
  • MFC private vehicle finance also covers you if you do not wish to buy from a dealer;
  • When you deal with MFC, you can rest easy knowing that the agreement is backed by one of the top reputable banks in South Africa, Nedbank.

What else should you know about MFC finance?

  • MFC requires you to insure the vehicle, so they can still recover the loan if the car is damaged or lost. You can use the MFC insurance or any insurance of your choice as long as it meets the requirements set by MFC.
  • If you buy a second-hand car through MFC private vehicle finance or dealership finance, the car has to be a maximum of 10 years old. However, you can still apply for special financing for vintage or classic cars.

If you already have a car loan with a different lender, you can still move your account to MFC. You can then start making your monthly payments to MFC.

More about MFC in this short video

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