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Found the car that makes your heart race or still looking for the right one? Wherever you are in your journey, we will assist you all the way. From finding a car to calculating what you can afford, getting the best car loan for your lifestyle and insuring it.

Already applied for finance? Then track your application online.

 

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We can help you find the best deal for the car you are looking for.
 

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How much can
I afford?

Use our vehicle finance calculator to estimate your monthly car repayments.

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We can assist you with comprehensive car insurance at competitive premiums.

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Use any of your Absa cards at our motoring partners and earn cash rewards.

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Car finance already approved? Register for our secure online system.
 

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Struggling with debt?

Let us help you review your financial situation and provide solutions so you can take back control of your finances.

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Experience they joy of buying your first car

  • What’s best for me – a new or used car?

    Buying new
    Pros Cons
    A new car has the latest features and updated technology.  It is considerably more expensive than buying used.
    You can pick from a greater variety of vehicles. Most new cars immediately loses value as you drive it out of the dealership.
    You have more choices about colour schemes or trim combinations and extras or upgrades. Optional features may add considerably to the price of the car.
    You can get great deals when dealerships offer discounts on demo vehicles. Insurance, taxes and registration fees are higher.
    Cons
    A new car has the latest features and updated technology. 
    It is considerably more expensive than buying used.
    You can pick from a greater variety of vehicles.
    Most new cars immediately loses value as you drive it out of the dealership.
    You have more choices about colour schemes or trim combinations and extras or upgrades.
    Optional features may add considerably to the price of the car.
    You can get great deals when dealerships offer discounts on demo vehicles.
    Insurance, taxes and registration fees are higher.

    Buying used
    Pros Cons
    It’s an affordable option if you have a small or fixed budget. A used car can cost you more over the lifespan of the vehicle.
    The value of a car depreciates fast and that’s why it is often a good reason to buy used instead of new. It may require maintenance and repairs far sooner than a new car.
    When buying a used vehicle, it is safer to buy a vehicle that has been quality checked and certified by a dealer. Available features, choice of colour, etc. are often limited.
    “Barely used” and “demo” cars can often include a warranty and maintenance plan. Used car repairs are often not covered by a warranty.
    Cons
    It’s an affordable option if you have a small or fixed budget.
    A used car can cost you more over the lifespan of the vehicle.
    The value of a car depreciates fast and that’s why it is often a good reason to buy used instead of new.
    It may require maintenance and repairs far sooner than a new car.
    When buying a used vehicle, it is safer to buy a vehicle that has been quality checked and certified by a dealer.
    Available features, choice of colour, etc. are often limited.
    “Barely used” and “demo” cars can often include a warranty and maintenance plan.
    Used car repairs are often not covered by a warranty.
  • I want a payment option that will suit my pocket

    Paying a deposit will:
    • Reduce your monthly payments
    • Reduce interest over the term
    Trading in your old car
    • Trading in your old car takes away the hassle of looking for a private buyer
    • Before trading in your car, find out your car’s value
    • Shop around for the best trade-in deal
    • Make sure your car is presentable – clean and in a good condition inside and outside
    • Know beforehand what the minimum amount is you would trade your car in for
    • If you still owe money on your car loan, find out what the settlement amount is
    Balloon payments
    • A balloon payment amount is a lump sum payment that is owed to the bank at the end of the loan term after all monthly repayments have been made
    • It affects the amount of your monthly repayments as well as the amount you will owe at the end of the loan term

    For example: 

    If you borrow R200 000 over five years and select to have a R50 000 balloon payment on your loan, your monthly repayments will be lower than if you didn’t have a balloon payment. However, you will still owe R50 000 on your car at the end of the five-year term. You can reduce the residual amount by making a bigger once-off payment during the repayment term.

    Benefits of balloon payments:

    • You may pay lower monthly instalments
    • No deposit is required
    • You can sell your car at the end of the loan term and use the money to pay off the loan

    Read more on balloon payments.

Financing, owning and selling your car

Here is everything you need to know before you finance, own or sell your car. Look at options that will help you make an informed and prepared choice.

 

The real price of owning a car
The real price of owning a car

Do you know how much your car is costing you? You can save every month if you pay attention to minimising your expenses.
 

Read more

Let's help you buy a car
Let's help you buy a car

It's time to buy a new car, which is really exciting, but a little daunting at the same time! We've put some guidelines together that will help you make a smart and affordable decision easily.

Read more

Three ways to sell your car
Three ways to sell your car

There are different ways to sell your car and each comes with its own set of pros and cons. We want you to make the best decision possible, so here is a quick guide that will help you decide!

Read more

cost of balloon payments?
Can you really afford the cost of balloon payments?

Do you know what balloon payment on a car is all about? When you take on a balloon payment, you are still paying interest. Read more tips and educate yourself.

Read more

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Need more help?

Let one of our consultants help you get the best vehicle finance for your needs.

Call us on:

0860 669 669

Call Islamic Car Finance on:

0860 000 786

Visit your nearest branch