South Africa is a middle-income country and happens to be the largest economy on the continent. The country has a well developed financial, legal and physical infrastructure, forming the basis for a sound financial system and for stable economic growth. The financial sector in South Africa is well developed and comprises many banks and a number of foreign bank branches and offices, non-banking financial institutions (including state-owned development finance institutions (DFIs), as well as smaller financial intermediaries. One name that features prominently on this list is Man Financial Services.
Established in 2014 with a strong global presence, MAN Financial Services has been a part of Volkswagen Financial Services AG which is Europe’s largest automobile financial services provider, and thus a company within the Volkswagen Group. As a financing company, MAN Financial Services supports MAN Truck & Bus customers.The service portfolio of MAN Financial Services includes domestic and international financing, leasing, insurance and rental solutions for commercial vehicles from MAN Truck & Bus.
When it comes to Rental and FML Solutions, MAN Finance Rental product provides a convenient and cost-effective solution to customers requiring the use of a vehicle for a period which is normally shorter than the vehicle’s anticipated useful life. There is no risk to customers in respect of asset disposal. Accounting principles will determine whether the asset will be reflected on your balance sheet or not. VAT is not capitalised up front but is payable monthly. Rentals are fully deductible as an operating expense.
Full Maintenance Lease also offers a cost effective and convenient option to customers requiring the use of a vehicle for a period shorter than the asset’s anticipated useful life. There is no risk to customers in respect of asset disposal. VAT is payable on a monthly bases. In addition, the cost of repair, maintenance and service is calculated based on pre-determined agreed parameters and paid monthly.
MAN Financial Services can be contacted on 0112843900.
