Yes you can. Please access the online application via the link below and follow the easy step-by-step process to complete your application for finance.
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Yes, we will provide finance, based on the settlement figure and remaining period only and subject to a full application for finance. We will require your latest statement to ensure that your account is not in arrears. A roadworthy certificate is not required for switching. The rate granted will be based on a risk assessment. Please contact us on 0860 111 159 for more information.
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A vehicle cannot be bought without a driving licence as there is a risk to MFC relating to insurance claims being rejected. We cannot accept a nominated driver as this constitutes third-party finance, which we do not offer. A nominated driver will only be considered for medical reasons, and we will require a medical certificate from a specialist in this regard.
We can deregister the vehicle only once the insurance company has sent us written instruction to do so. The insurance company must first assess the vehicle to determine the extent of the damage.
We require you to pay your account by debit order if you want to receive vehicle/asset finance and you may not cancel the debit order. If you change your banking details, please contact the bank and give us with new banking details.
Yes, you can change your instalment date using the MFC online account management service. Please note that if you change your debit order date less than seven working days prior to your current instalment date, the change will take only effect the following month.
You may change your debt counsellor, but we reserve the right either to accept or decline the second debt review application, as the National Credit Act doesn't make any provision for a client to change debt counsellors. But we will decline the second debt review application only if we haven't been receiving reasonable monthly payments on the loan account.
If a debt counsellor rejects an application, you may, in terms of section 86(9) of the National Credit Act, apply directly to the Magistrate's Court in the prescribed manner for an order to be placed under debt review.
No. The stores at which the vehicles are kept are not open on weekends or public holidays. They are open from 08:00 to 15:00, Monday to Friday.
When you apply for finance using our automated approvals service, your chance of getting approval will be affected if there is a written-off account on your record. Even if the written-off account has been paid in full and the credit bureau record has been changed accordingly, or if the bureau removed the record two years after the debt was paid, the record of the written-off account will remain on our system. But you can seek 'manual approval' by speaking to us rather than using the automated process. We will consider your application if you meet certain terms and conditions.
No. As the account holder you will be in breach of the agreement if you hand over the vehicle/asset and payment responsibility to another party without our written permission. Without exception, you must settle an account in full before you change vehicle/asset ownership.
Yes, subject to certain terms and conditions. Three months before your balloon payment is due we will send you a quotation for your instalment over different terms. The terms for restructure on offer are 6, 12, 18, 24 and 36 months.
A shortfall balance can be restructured over a maximum period of 36 months, but you will have to get credit approval and adhere to certain terms and conditions.
Yes, so that we can do a comprehensive assessment of what you can afford.
Yes. In terms of your signed agreement your insurance cover must be complete (or comprehensive). This means that it must cover your total outstanding financial obligations to us.
Any private person or juristic person can enter into an agreement without a deposit. However, it is within MFC's discretion to request a deposit.
Yes. You remain liable for the full amount that is outstanding, as well as interest and costs.
We only finance lefthand-drive vehicles in exceptional cases, ie if it was registered in South Africa before March 1997, and if it is not supported by a local manufacturer or supplier (a grey import).
MFC finances both new and preowned vehicles. Please remember, however, that the age of the vehicle is a factor in deciding whether or not MFC will grant you finance.
MFC finances both new and preowned vehicles. Please remember, however, that the age of the vehicle is a factor in deciding whether or not MFC will grant you finance.
MFC will only finance vehicles older than ten years in exceptional cases. These include Classic, Vintage, Edwardian and Veteran models. Terms and conditions will be agreed upon according to the vehicle and risk involved.
