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  • Choose a Finance Option
  • Low Interest Rates
  • Repayment up to 96 months

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MFC homepage
Author MFC. Screenshot of MFC website.
[Accessed May 8, 2023]

About MFC

MFC is a division of Nedbank that has been offering vehicle finance for over 12 years.

As part of Nedbank, MFC is committed to supporting local communities and helping them develop. The MFC team is passionate about empowering people through support, mentoring, and coaching in all aspects of vehicle finance.

Choosing the right vehicle finance with MFC

As a client of MFC, you can choose from a wide range of vehicle finance options. Skilled and qualified staff will provide you with all the necessary information to help you make the right choice. By taking motor finance with MFC, you can benefit from:

  • Access to over 2,400 approved dealerships
  • Working with the second-biggest motor financier in the retail market
  • Partnerships with Auto Pedigree, Imperial, AMH, Kia, and Hyundai

Applying for motor finance with MFC

You can submit an application directly at the Nedbank client centre or through one of the many approved dealers. Additionally, MFC has an easy-to-use online application form on their website that allows you to apply for your chosen vehicle from the comfort of your home or office.

Regular auctions for repossessed vehicles

In addition to this, MFC holds regular auctions throughout the country where you can browse through the list of repossessed vehicles. You can participate by joining and paying a refundable deposit of R5000.00 to start bidding on live auctions on an actual day.

Financing Classic, Vintage, Edwardian, and Veteran Cars

With MFC, you can finance vehicles older than 10 years if they are Classic, Vintage, Edwardian, or Veteran models. Terms and conditions apply and are agreed upon for these exceptional cars.

Switching Finance to MFC

For new clients, Nedbank division for vehicle finance offers the possibility to switch your finance from other banks or finance houses to MFC. The minimum period of finance is 12 months, and the maximum is 96 months.

Insurance and Additional Services

If you finance your car with MFC, you can choose motor insurance through Nedbank Insurance or obtain your own insurance, and your dealership can provide a competitive quotation. Insurance cover for your vehicle is compulsory when using MFC.

MFC Services

MFC offers several options to finance your car that suits your financial needs and lifestyle.

The Instalment Agreement allows you to purchase the vehicle of your choice, which is bought by the bank and sold to you over a negotiated period of time at an agreed interest rate. You can choose from two options to repay your loan:

Linked-rate option

This option provides you with the possibility of benefiting from fluctuating interest rates. Initially, the linked rate will be lower and save you money. However, it may increase and result in higher monthly car instalments when the Reserve Bank changes interest rates. If interest rates decrease, you will benefit, and your repayments will be lower.

Fixed-rate option

This option stays the same and is not affected by fluctuating interest rates. Initially, it may be higher, but it will remain the same for the duration of your loan payments, giving you peace of mind towards fluctuating interest rates.

Balloon Payment Agreement

The Balloon Payment Agreement is another option that can result in lower and more affordable monthly payments by agreeing to pay a lump sum at the end of the agreement period. The maximum is 35%, and conditions apply to the year, make, and model of the vehicle financed.

Assistance with Purchasing from a Private Seller

MFC can also assist you in purchasing a vehicle from a private seller, ensuring that the technical inspection and roadworthy are done by the seller and verifying if the vehicle has a warranty or helping you to obtain one.

Additionally, MFC offers:

  • MFC Service Plan, which covers all serviceable items and related labour charges on your vehicle.
  • Policy Cover, which covers dents, windscreen chips, scratches, and bumper scuffs.
  • Credit shortfall, is a policy that covers specific shortfalls on insurance claims if your car is stolen or written off.
  • MFC Extended Warranty, additional cover when your manufacturer's warranty expires for an additional 2 years or 250 000 km. It covers mechanical failures like engine, gearbox or electrical and includes free-of-charge road assistance and vehicle rental service.
  • MFC Warranty Gap is a policy that covers the shortfall gap for specific additional non-wear and tear parts.
  • MFC Tyre and Rim Warranty, a policy that covers the cost of repairing or replacing damaged rims and tyres, with a value of R10 000 per claim and a limit of R40 000 over a two-year period.

MFC – Vehicle Finance

  • Loan Type Vehicle Finance
  • Repayment 12 months to 96 months

Benefits of MFC

  • Quick online loan application
  • Competitive interest rates
  • Choose between finance options

Vehicle Finance calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This vehicle finance calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

How to Apply for Motor Vehicle Finance with MFC

Applying for motor vehicle finance with MFC is a simple five-step process that can be completed online or by downloading the application form for private or business buyers.

Use the Budget Calculator

On MFC's website, you will find a Budget Calculator that can help you determine how much you can spend on your new car. Simply enter your monthly income after taxes and subtract your monthly expenses and additional expenses. The balance will give you an idea of your monthly finance. Note that this is just a guideline, and a full credit assessment will be required, including verification of your income and credit record.

Consider Additional Expenses

You will need to budget for monthly car insurance, petrol or diesel, and maintenance costs. The price of the vehicle is calculated at a default rate of Prime + 3% over 60 months, with no deposit and no balloon payment.

Use the Installment Calculator

With the information from the Budget Calculator and consideration of additional expenses, you can use the Installment Calculator to determine your monthly installment amount based on the vehicle price, the deposit you can put down, and the repayment period you prefer.

Apply for Finance

To apply for finance on your chosen vehicle, you must meet the following requirements:

  1. Be 18 years or older
  2. Earn a minimum salary of R 6,500 per month
  3. Have a valid South African driver's license
  4. Be a South African citizen or permanent resident
  5. Have a good credit history

You will need to submit an application and provide the following documents:

  • A copy of your valid South African identity card/document
  • A copy of the front and back of your driver's license
  • Proof of income not older than three months
  • Latest three months' payslips
  • Latest three months' stamped bank statements (internet bank statements will not be accepted)
  • Proof of residence (utility bill) not older than three months
  • For private to private finance, you’ll need vehicle details, seller name and surname, and contact number.

Get Insurance and Sign the Contract

Insurance for your new car must be arranged before delivery and must cover the full term of the contract. Before driving away in your new car, you must sign a contract and a release note confirming that you have taken delivery of the car and are satisfied with it.

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MFC is a trusted & reliable provider of vehicle finance

In our review, MFC adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ MFC is a registered credit provider in South Africa: NCRCP16

MFC Contact

Contact Number


  • not available


Physical Address

Opening Hours

  • Monday 08:00 – 16:30
  • Tuesday 08:00 – 16:30
  • Wednesday 08:00 – 16:30
  • Thursday 08:00 – 16:30
  • Friday 08:00 – 16:30
  • Saturday 08:00 – 12:00
  • Sunday – Closed