Nedbank, one of South Africa’s four largest banking groups is a vision-led and values-driven institution. Through its MFC division, the institution provides competitive car loan solutions.
Buying a car is a big decision that is regarded as a risk by many people. In a country like South Africa, where the public transport system is largely unreliable, it’s become more of a necessity for one to get a car.
The socio-economic standing of many people in this country means that they can’t afford to buy a car using cash. Most people opt for car finance. This means that they are able to purchase the car of their choice by paying an instalment on a monthly basis. This can be helpful if you don’t have a lump sum.
Nedbank offers a range of finance options, including:
- Instalment Agreement
- Balloon Repayment option
- Rate payment options
Once an individual has decided on the type of finance option they want to select, the next big question is often how much it will cost.
The car loan calculator options from Nedbank are offered in the form of a Budget calculator as well as an Installment Calculator.
Tell me more about the Budget Calculator?
This calculator helps you work out how much you can spend. You start by entering your monthly income after taxes and you then subtract your monthly expenses. The balance is an estimate of what you can afford.
This calculator works out how much you will be obligated to repay on a monthly basis to cover the costs of the car loan.
It’s important to remember that these calculators provide guidelines. For accurate amounts, you will need to contact Nedbank on 0860 879 900.