Who Needs Vehicle Refinance…And Why? | Carfin | Car Finance


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Many South Africans could utilise vehicle refinance as a solution to their individual monthly financial shortfall. Refinance is a financial tool that converts a non-liquid asset, a car, into a liquid asset like cash. You cannot pay your bills each month with your car, but you can pay them with the cash from your car! The beauty of the deal is you keep your vehicle.

Sure, you could sell the car to someone for cash to pay your bills, but you would lose your means of transportation. The better solution is to refinance the balance owed on your car. Your payments will be lower each month, freeing up funds to put toward other debts.  

The Reasons to Refinance

You may benefit from a vehicle refinance if your financial picture has changed recently. Perhaps you are getting fewer work hours or illness has caused you to lose wages. One large unexpected expense will throw your budget off. You have managed to keep your monthly bills paid on time until recently. During the last few months, you have had to pay some bills later and later each month. Eventually, the late payments gradually rolled into the next month, still unpaid. Now you are behind in payments and your credit rating is at risk. Once your credit rating begins to plummet, your options to regain financial stability begin to disappear.

Secure Vehicle Refinance in SA Before It Is Too Late!

Hardworking families struggling to do life right are getting a lot of push back these days. Work is becoming scarce, wages are stagnant and the cost of basic living expenses continues to increase. It is difficult if not impossible for families to save for emergencies. Financial struggles place a cloud over every area of life, stealing your joy.

When you have a car, caravan, truck or motorcycle, you have a solution to your monthly shortfall. You have been putting money into them for a long time and now you can withdraw the equity. Refinancing the balance due for an extended period will lower your monthly payment. You can then apply extra funds wherever needed in your budget. Take advantage of the benefits offered by a vehicle finance before you risk delinquency and negative ratings on your credit report.  

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