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Compare New Vehicle Finance in South Africa

New vehicle finance can help you purchase your next motor vehicle. If you already have an idea of what you would like your monthly payment to be then you are halfway there.

Our simple loan calculator below will help you to calculate your monthly payment so that you can budget better for this loan. Simply input the loan amount and adjust the loan term then click calculate. You can also adjust the loan amount and term as desired.

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Personal Loan - Excellent Credit

12 months
to 72 months
to R250,000
MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.

Personal Loan - Average Credit

12 months
to 72 months
to R250,000
MoneyShop find the best loan suited to your profile with SA’s top loan providers. They have partnered with SA’s top personal loan providers to make your online application process quick and easy! Have a regular income of more than R4,000, bank statements and your SA ID? Apply online today.

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 60 months
to R150,000
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.

Standard Bank -Financial lease

Standard Bank of South Africa
12 months
to 84 months
to R200,000
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.

Wesbank Vehicle Finance

12 months
to 96 months
to R300,000
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.
Get a principal decision within 24 hours if all necessary documents have been provided.
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
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.

Albaraka Bank Vehicle Finance

Albaraka Bank
12 months
to 72 months
to R250,000
Low deposit requirement. No monthly admin fees. Competitive pricing. Annual lump sum option available. Option of fixed or variable repayments. Up to 72 months. 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.

New car finance – Get a loan and drive a brand new car

Buying a brand new car and driving it fresh off the car sale floor is an exciting achievement for many South Africans. Since the average purchase price of a new car in South Africa is around R80 000 or more, it might take a car loan to get you there.

If you are looking for new car finance specials, it is a good idea to take the time and understand this type of finance. In this article, we will cover how new car loans work, the requirements, costs, plus more.

What are new car loans, and how do they work?

When you qualify for a new car loan from a lender, you get cash in a lump sum. Next, you pay the amount back plus interest and other fees over an agreed period. The size of your monthly payment is affected by the following factors:

  • How much you borrow;
  • The time you need to cover the total cost of your loan;
  • Whether a balloon payment or deposit is required;
  • The interest rate; and
  • Other associated fees, like initiation costs and monthly service fees.

Loan terms for new car loans are typically 36–72 months.

How do these factors affect your monthly payments?

  • A low monthly instalment might sound like a good idea, but you should always look at the bigger financial picture. A reduced monthly payment might mean that you have to pay more for the car as the interest adds up.
  • The interest rate is basically how the lender benefits from lending you money. If the interest rate of the new car loan is low, the total cost of your loan is also lowered. A competitive interest rate, therefore, makes the loan cheaper.
  • A longer term costs more in total paid interest even if you have a low rate and affordable repayments. It’s best to balance the low monthly instalments with a loan term that is not too long.
  • Deposits and balloon payments typically come from your savings. They reduce the loan amount and monthly repayments when buying a car, which enables you to save on interest.

What are the new car finance options available in South Africa?

  • Secured car loan. If the loan is secured, it uses the car you’re buying as collateral or security for the loan. The lender will take the vehicle and use it to get their money back if you fail to pay the loan in full. These loans have a lower interest rate when compared to unsecured car loans which require no collateral.
  • Variable-rate car loan. This type of loan has an interest rate that can increase or decrease with time. Sometimes the rate will be cheaper or more expensive depending on the market rate.
  • Fixed-rate car loan. The fixed-rate loan features an interest rate that will not change. It remains the same as it was on the day you took out the loan.
  • Dealership car loan. You can get a brand new car on finance from the dealership where you’re purchasing the car.
  • Bad-credit car loan. If your credit score is much lower than the acceptable number, you can qualify for a bad credit car loan. These loans have a higher interest rate because they’re a high-risk move for lenders.
  • Personal loans: These are usually unsecured with higher interest rates than secured car loans.

How to find the best new vehicle finance option

If you check our comparison tables above, you’ll find several lenders to choose from. To make the final decision easier, here are some important factors to consider:

  • Loan amount and loan term. Check to see if the lender allows you to borrow as much as you need, while also giving you a flexible repayment period.
  • Interest rate. The best deal you can get is when the lender charges you the minimum amount possible for borrowing money.
  • Other fees and charges. Some of these fees could be hidden but the common ones to look out for include initiation and monthly service fee. To get additional information on what a particular lender charges, click “View fees and additional info.”
  • Repayment plan. This should be as flexible as possible. For example, you should be able to make extra or early repayments without getting charged a penalty fee. Carefully read your loan contract’s terms and conditions before signing.

Calculate your monthly costs with our car loan calculator

The new vehicle finance calculator is a free tool from that you can use to calculate the expected monthly repayments for any loan amount and term you select. Simply input the required values using the sliding tools, click calculate and check if the results are suitable for your monthly budget.

General requirements for new car finance

Before you apply, find out if you meet all the new car loan requirements. Also, check if you have the required documents in hand. Most lenders require the following:

  • Be over 18 years;
  • Have a valid South African ID;
  • Have a valid driver’s license;
  • Provide valid proof of income in the form of payslips and bank statements;
  • Proof of residence; and
  • A good and clean credit record.

How to apply for new vehicle finance online

You can apply for new vehicle finance by clicking your lender’s “Go to Site” button in the comparison tables above. This link moves you over to their website and application page. Once you submit the application form according to the instructions provided, the lender will carry out a credit check and affordability assessment before they get back to you.

Advantages of new vehicle finance

  • Enables you to own a car without paying the full purchase price;
  • Easy application approval;
  • Fewer requirements since the age of the car is not a problem;
  • Saves money as new cars have less service and repair costs; and
  • Secured loans offer low and affordable rates.

Disadvantages of new vehicle finance

  • Once you start driving the car, its value quickly decreases;
  • Can strain your budget since new cars cost more than used ones; and
  • A longer term can increase the total cost of your loan.

Frequently asked questions about new vehicle finance

Can I get 0% financing on new car deals?

Yes. Some lenders have new car finance specials offering 0% finance deals for specific models or terms.

Will I get finance on a new car if I have bad credit?

If you have a bad credit score in South Africa, getting your new car financed might be a challenge. There are, however, dealers that have their in-house financing options, but they usually charge higher interest rates. If you start missing payments, they will most likely repossess your car quite quickly. It is essential that if you choose to go this route, you thoroughly research and select the best dealership financing option.

Should I be aware of any hidden loan costs?

Yes, you should thoroughly go through the terms and conditions to find out if there are any hidden costs and payments. Your car also has daily fuel and running costs that you should factor into your monthly budget.

Looking for a cheaper alternative to new car finance? Try used vehicle finance!

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