Refinancing
How to Refinance Your Car in South Africa
Step-by-step guide to switching your deal, lowering your repayment, and understanding what it costs.
South Africa's Vehicle Finance Broker
Vehicle Finance & Refinance for South Africa
Your trusted vehicle finance solution.
- NCR Registered Broker
- Soft credit check to pre-qualify, no score impact
- 20+ years in vehicle finance
- Top banks, one application
New & Used Vehicles
Vehicle Finance Compared Across Top Banks
Walking into one bank gives you one offer. Carfin submits one application to top banks, then negotiates on your behalf to bring you the best deal we can get. New vehicle, used vehicle, or private seller: we handle all three.
- New and used vehicles
- Private sale purchases (Carfin manages payment securely)
- Instalment sale or balloon/residual options
- Fixed or linked interest rate
- Pre-qualify before you visit any dealership
Our Flagship Service
Refinance Your Car and Lower Your Repayment
Still paying the rate your dealer gave you three years ago? That rate was set under your old credit profile, at the prime rate of the time. Both have probably changed. Carfin submits your refinance application to top banks simultaneously to find out what rate you qualify for today.
- Full credit check required. One application, one enquiry.
- Top banks, one application
- Balloon payment restructuring available
- Fast, reliable service
Buying From a Private Seller
Private Sale Finance Done Safely
Buying a car from a private seller? Carfin manages all payments securely between buyer and seller. Think of it as buying a car from a friend. We handle the payment securely so both sides are protected.
- Carfin manages the full payment securely
- Both buyer and seller are protected
- New or used vehicles from private sellers
- Top banks, one application
Business Vehicle Finance
Carfin helps your business get approved for vehicle finance. One application, real results.
Business Finance
Know Your Deal
The Finance Structures That Matter
Vehicle finance is not one-size-fits-all. Understanding these structures helps you choose the deal that fits your life, not the deal that fits the dealer's commission.
Instalment Sale
The standard structure. You repay the full loan plus interest in equal monthly instalments. The vehicle registers in your name from day one and is fully owned when the last payment is made.
Most commonBalloon / Residual
A lump sum (up to 35%) is deferred to the end of the term. Monthly repayments are lower, but the balloon is due in full at the end. Plan for it before you sign.
Understand balloon payments →Fixed vs Linked Rate
Fixed rate stays the same throughout the term. Linked rate moves with prime. Fixed gives certainty; linked benefits when prime falls. Carfin presents both options from every bank.
Model both with the calculator →
Are You Eligible?
Who Carfin Can Help
We are honest about who we can help and who we cannot. An accurate answer upfront saves everyone time.
Carfin can help if you:
- Are a South African citizen or permanent resident
- Have a regular income (salaried or self-employed)
- Have a net monthly income of R10,000+
- Have a credit score, even a low one
- Are self-employed, recently employed, or have a thin credit file
- Need to refinance an existing vehicle deal
Carfin cannot help if you:
- Are currently under debt review (NCA prohibits new credit)
- Have an unsettled court judgment against your name
- Have no income at all
- Expect guaranteed approval with no documentation
Repayment Tool
Know Your Numbers Before You Walk Into a Dealership
The Carfin calculator shows your monthly repayment, total interest, and total cost of credit in real time, so you know what a fair deal looks like before anyone quotes you one.
- Adjustable vehicle price, deposit, and term
- Fixed vs linked rate toggle
- Balloon payment modelling
- Total cost of credit, not just monthly repayment
Quick Estimate
Adjust to see your repayment change instantly
Monthly repayment
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Total interest
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Total cost of credit
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Apply for This Rate
Indicative only. Actual rate subject to bank assessment.
Education Hub
Education Is Protection
Understand your deal before you sign it. Clear guides written to help you, not to sell you something.
Finance Types
Balloon Payments Explained
What a balloon payment is, how it affects your total cost, and what happens when it falls due.
FAQs
Vehicle Finance FAQ
Every common question about eligibility, documents, credit, timing, and the application process, answered plainly.
Client Reviews
What Our Clients Say
★★★★★
The procedures were parliamentary, I applied for vehicle finance and received my pre-qualification within 24 hours.
★★★★★
Great service from the Carfin team. Refinanced my vehicle and it was a seamless process.
★★★★★
Financed my car and the process was seamless.
★★★★★
They assisted me in the sale of my bakkie. The buyer was approved in a couple of hours. Very professional!
We deal with the top banks so you don't have to.
Top banks. One application.
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