Motor vehicles are an integral part of modern life.For the individual, car ownership does offer a leap in freedom and opportunity. The freedom to go where and when you want. A freedom dreamt of by many people. The freedom of movement offered by the car becomes increasingly a formal freedom, a representation of freedom.It is from this background that the demand for motor vehicle finance has continued to rise over time. One business entity assisting many is MFC Vehicle Finance.
MFC is a division of Nedbank (MFC), following a merger between Motor Finance Corporation and Nedbank Vehicle and Asset Finance in October 2010. MFC prides itself on offering a single-minded focus on vehicle finance. Part of the approach is to offer cost-effective service using cutting-edge technology, product innovation and the efforts of highly skilled and motivated staff. MFC finance is provided through Installment agreement, Balloon payment option and rate payment options.
An installment agreement offers you a financial facility to purchase a vehicle that is selected by you and is purchased by the bank. The bank then sells the vehicle to you over a negotiated period at an agreed interest rate.The balloon payment option offers the benefit of reduced monthly repayments, with a lump sum repayment (referred to as the balloon payment) at the end of the agreement period.Rate payment options are offered as linked rate option and fixed rate option.
The Linked-rate Option provides you with the potential benefits of fluctuating interest rates. In the event that the interest rate increases during the agreement period, your interest rate and therefore your repayments will increase accordingly.The fixed-rate option provides you with peace of mind in terms of fluctuating interest rates. In the event that the interest rate increases during the agreement period, your repayments will not be affected and your interest rate will remain the same.
The benefits of taking motor finance with MFC are that you enjoy world class service from the second biggest vehicle financier in the retail market, you have peace of mind knowing your finance is backed by one of South Africa’s top four banks,you can benefit from MFC partnership with Imperial, AMH,Hyundai, Kia and Auto Pedigree.You can also deal with any one of the over 2400 approved dealerships available.
MFC can be contacted on 0860879900.