Important disclosure

Nedbank Vehicle Finance Calculator & Product Overview

Nedbank offers a variety of vehicle finance loans. We have created a tool that will help you compare your finance options.

Go ahead and input the loan amount that you are considering then use the second filter to adjust the loan term.

Once you click calculate, you will then get a good idea of what you can expect for your monthly repyaments.

Calculate repayments

Loan Amount



60 months


Nedbank Secondhand Vehicle Finance

Estimated Month Repayments
Interest Rate
Repayment Period
6 months
to 72 months
Loan Amounts
to R250,000
Are you in the market for a vehicle between R40 000 and R250 000? We provide a loan for vehicles up to 20 years old* at accredited dealers countrywide.
Sorry, no results were found 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.

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.

About Nedbank vehicle finance in South Africa

Nedbank car finance in South Africa is one of the top finance options to consider when you finally want to buy that set of four wheels. Nedbank also provides personal loans and home improvement loans, but they have a special division called MFC, which handles the motor finance side of things. In this article, we take you through the process of finding the best and affordable Nedbank car loan that gets you driving as quickly as possible.

What do you need before making a Nedbank car finance application?

The first thing you might want to check is if you qualify for a Nedbank car loan or not. Below are the requirements you should meet before you can get approved:

  • Minimum age of 18 years;
  • Permanent employment with a regular, monthly salary that starts at R6500;
  • South African citizenship or a permanent residence; and
  • A good credit history.

You will need the following documents:

  • Proof of income that includes 3 latest payslips and 3 stamped bank statements that are not older than 3 months;
  • Front and back copies of a valid South African driver’s licence that has no endorsement;
  • Proof of residence issued in the last 3 months; and
  • Front and back copies of a valid South African ID.

How to use the Nedbank vehicle finance calculator to find the right car

  1. Our Nedbank car finance calculator works by giving you an idea of how much you can afford to borrow from a monthly payment view.
  2. The calculator has two inputs – the loan amount and the time you want to take to finish the payment. There are two sliders on the Nedbank calculator. Move them either left or right to adjust your inputs.
  3. Once your inputs are right, you can select the “Calculate Repayment” option. The result you get shows you an estimate of how much you are going to be spending in monthly repayments.
  4. Please note that this amount and any rates quoted might differ slightly from the actual bank quote. It is just an estimate that helps you decide and budget before applying for the loan.

Why is using the Nedbank car loan calculator important?

The Nedbank car loan calculator will show you your estimated monthly payment. You can then use this amount to compare loan options or to find out the total cost of the loan. Knowing the full value of the loan will help you to decide whether a particular loan is expensive or not. The calculator also helps you with:

  • Preparation – The most important aspect of getting a vehicle is preparing ahead of time. Knowing what you can afford helps you to know what kind of car you will most likely be looking to get. Please keep in mind that monthly instalments are not the only amount you’ll pay. You also need a deposit in some cases and registration fees.
  • Early Payment – Paying off a car loan earlier than usual will not only shorten the length of the vehicle loan, it will also result in interest savings. The longer you keep a Nedbank loan, the more you pay in interests and other fees like monthly service fees. Consider this as you decide the size of your monthly repayments.

How to make a Nedbank vehicle finance online application

Applying for a Nedbank car loan is easy if you have a smartphone or computer. has made the process easier by featuring Nedbank in their comparison tables above.

That means you can start the application process while on this page by clicking the “Go to Site” button. This will open another page on the Nedbank website where you can select the “Apply online” option.

How does Nedbank vehicle finance work?

You can break down the process into five steps:

1. Calculate what you can afford

When you want to buy a set of wheels in South Africa, there are so many decisions to make. You have to choose the right car type and model. You also have to think about whether you’re buying a second-hand vehicle or not. Your budget drives most of these decisions. This means that the size of your car loan should be something that you can afford.

The best way to see what you can afford is to use our repayment loan calculator. Once you input the loan amount and term you want, it lets you know how much you will have to pay back each month. Nedbank also has a budget calculator that helps you figure out which repayment can fit comfortably with your other monthly expenses.

2. Shop for your ride

This is an exciting step, and Nedbank gives you flexible options in this regard. There are two options to choose from:

  • Buy from a dealership – You can find your own dealership or pick from a list of trusted dealerships provided by MFC. The auto you choose must not be older than 10 years, and it should not be stolen, recovered, or rebuilt. When buying through a dealer, the minimum car loan is R50 000. Once your application is approved, Nedbank will pay the selected dealer who then delivers the car to you.
  • Buy from a private seller – Nedbank private vehicle finance allows you also to buy a ride from a private person. In this case, the seller is paid directly by Nedbank. However, you have to meet certain conditions before the purchase is approved. For example, the car has to have a warranty, and it should be registered and considered fit for driving by the authorities.

Important tip: Always take the automobile for a test drive to ensure everything is in good order before making any payments.

3. Make a Nedbank vehicle finance online application

You can only apply for Nedbank car finance after you have selected the vehicle you want to buy. This is because Nedbank does not offer pre-approved finance. They will need your personal details and the ride’s details first before considering your application. If you apply online, you will have to upload the necessary documents. During the car loan application process, your credit history will get checked to verify your past behaviour when it comes to paying debts.

4. Get insurance

Your vehicle must be insured according to Nedbank’s requirements. For insurance, you can use Nedbank Group Insurance Brokers, insurance from a dealership, or any insurance of your choice. This comprehensive vehicle insurance is there to protect Nedbank. If the car is damaged or lost, they can still recover their funds.

5. Sign an agreement with Nedbank

This is the easy part where your automobile is delivered, and you sign a note confirming that it is now in your possession and everything is in order.

What is Nedbank’s vehicle finance interest rate?

Nedbank uses market related interest rates on their car loans. The maximum interest rate in South Africa is 27.75% per annum. However, the exact rate you get depends on the current prime interest rate and your credit score. A good credit score and a positive credit history generally help you get a lower interest rate when your application is processed. In addition, and for flexibility, Nedbank gives you two interest rate options:

  • Fixed rate option: When your interest rate is fixed, it stays the same until you finish paying off your Nedbank car loan. Even if the market related rate changes, your repayments will not be affected. This option, therefore, gives you the confidence to budget for your monthly repayments ahead of time.
  • Linked interest rate: With this finance option, your interest rate will be variable because it will be linked to the market rate, which can go up and down at any time. While this may make it difficult to plan, you can save a lot on interest because if the market rate goes down, your interest payments are reduced.

How do I pay back my Nedbank car loan?

You can choose a period between 24 and 72 months for your Nedbank car loan repayment. In addition to interest, you will also be charged an initiation fee of R1207.50 and a monthly fee. The instalment agreement involves you choosing a set of wheels that Nedbank pays for. You then pay back Nedbank over an agreed period via instalments. For repayments, there are two available options:

  • Balloon payment option – You pay a lump sum of money at the end of your car loan. This lump sum payment can come from your savings, or you can apply for another loan to cover the balloon payment amount. Alternatively, you can sell the auto to raise money for the payment. Either way, a balloon payment offers you reduced monthly instalments.
  • Deposit option – You pay a lump sum of money upfront from your savings. This reduces your loan amount and interest.

Please note that the car remains the property of Nedbank until all your repayments have been made. You become the full owner at the end of the car loan agreement.

Advantages of taking out a Nedbank car loan

  • Fast and easy online application that only takes 30 minutes or less.
  • You can buy a brand new or used car that is less than 10 years old.
  • Nedbank is a trusted, registered financial services institution that operates in line with the terms of the National Credit Act (NCA).
  • You can finish paying off your small or intermediate loan at an earlier date with no penalty.
  • Borrowing is still possible if you don’t have a deposit.

Commonly asked questions about Nedbank car loans

Can I get a classic or vintage car using Nedbank?

Yes. Generally, Nedbank does not lend for rides older than 10 years, but there’s an exception for these motor vehicles.

Is there Nedbank car finance for the blacklisted?

Nedbank always performs a credit check when you apply. Your application may not be accepted if you have bad credit or are blacklisted.

Can I apply for a car loan term that is longer than 72 months?

Yes. Under special circumstances, Nedbank allows you to choose a loan term of up to 96 months.

If I already have vehicle finance from another lender, can I move it to Nedbank?

Yes. Nedbank can take over your existing account. They will also help you with the administration and verification process.

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