If you had your car financed 24 months ago for R194,000
at an interest rate of 14%,
your current monthly instalment would be R4,632.
Two years later, your settlement value on this vehicle is R127,900.
By refinancing this loan on the settlement amount of R127,900
at a lower interest rate of 10%,
the new monthly installment would be R2,800
– which is a monthly saving of R1,832!
This video explains what refinancing is and how it can free up some cash for you each month.
Loans are not always negotiated on the best terms, and now that you know more, you can look at refinancing for a better deal.
Vehicle re-financing enables you to pay off your current vehicle loan with a new renegotiated loan. Your current loan and title are transferred to a new lender and you will make your monthly car loan payments to this new lender.
Complete your finance application online and find out if you are eligible for refinance.
Have you thought about having your insurance premiums re-assessed? With the pressure of rising costs, you may be able to benefit from Carfin's network of relationships we have with a range of insurance companies.
There may be another company who are willing and able to help you save money by finding a better vehicle insurance deal for you. If you don't ask, you will never know.
Please get in touch and we’ll do our best to help you today!
When you first financed your vehicle, the economic landscape was very different.
Now, with rising costs and uncertain financial times, you might be facing a balloon or residual payment that’s becoming a concern.
Carfin is here to help! We can assist with refinancing your balloon or residual payment, so you don’t have to worry about a large lump sum at the end of your contract.
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Car Finance & Vehicle Finance Solutions
Tel: 0861 227 346 (0861 CARFIN)
E-Mail: [email protected]