Your expenses are increasing but your salary stays the same. What now?
When you purchased your vehicle, house, motorcycle you made sure you could afford all of your monthly expenses including school fees, phones, policies , medical aid …..and so on…. A few years later, the interest rate has increased, the cost of living has gone up, and you have more expenses than you can cover. Don’t despair! Autofin Assist can help you.
How can I consolidate my debts ?
You need an amount to be paid out to you, equivalent to all your debts together. You need this amount in order to settle all your debts and pay one amount per month to one institution and save a big amount per month. With the extra money you can in return pay more than your agreed repayment and in this way you can settle it all in a shorter time period, this will insure your credit rating going up every month as well
What do I need to qualify ?
- you must be credit worthy
- you must own a fixed or moveable asset ( a property a house or a motor vehicle, a car )
- you must be employed or self employed ( you must earn an income and need to prove it
- you must have bank statements ( where salary gets paid into )
- you must not be over 70 years of age
- you must have a valid drivers license ( if it’s on a moveable asset motor vehicle, a car )
What can I do with the cash ?
It is yours, the money will be paid out to you and you can consolidate your debts, go on a holiday, invest in a business, do with it whatever you want, we can only ask you to please use it wisely and improve your way of living.
Need bridging finance ?
When buying a property you will have to pay in some cases a deposit ( the deposit can be from 10% to 30% of the total bond). But most definitely you will have to pay bond and transfer fees that can be +- up to 4% of your total bond. We can help getting the fees you need to secure your dream home in place for you.
Benefit 1: Lower your interest rate
Autofin Assist’s refinancing may be able to find you a more competitive interest rate on your vehicle loan than what you’re currently paying. This means that you not only pay less each month on your car installments, but that you can pay less interest on the vehicle overall.
Benefit 2: Pay less each month
By refinancing your vehicle over a longer payment term, you are able to reduce how much you pay in monthly installments. A vehicle that is paid for over six years has lower installments than one that is paid for over two years. This means that if you decide to have children or buy a house, for example, you can reduce how much you pay on your car to boost your available income each month.
Benefit 3:Get instant cash without selling the vehicle
Autofin Assist pays out up to the current retail value of the vehicle minus the outstanding loan and administration costs. If the amount owed on your car is less than the value of the vehicle, you will get a cash payout. This means that if you are involved in a medical emergency, for example, you can refinance your car to instantly access the cash you’ve already invested in it.
Benefit 4: Pay less than with other lines of credit
Refinancing your vehicle gives you access to the amount you’ve already invested in it. It allows you to liquidate the repayments already made, which gives you access to instant cash and repay it at a lower interest rate than some other lines of credit, such as a credit card. This means that if you want to take that dream holiday, for example, you can refinance your vehicle instead of putting it on your credit card and reduce how much you pay in