Commercial Vehicle Refinancing
Accelerate business growth with commercial vehicle refinancing
How it works
Complete our easy online application form to get the application process started.
Our consultants will contact you to discuss your application and gather additional information.
We will finalise and process your application and contact you with the outcome.
Accessing the value of your commercial vehicles in cash and allowing you to repay it as you would with a normal loan will let you utilise the cash value of your assets without having to sell them. This ensures business operations that rely on these vehicles can continue uninterrupted.
Supporting your business
We extend your payment period
If you find it challenging for your business to meet monthly commitments or require additional income each month, extending your vehicle financing repayment period is a practical route to follow. By lengthening the repayment term for your commercial vehicle loan, we can effectively reduce your monthly instalment amount. For example, repaying a R500,000 loan over 36 months at a 12% interest rate would result in R17,271 in monthly payments. However, if you were to repay the exact loan over 60 months, the monthly payment would be R10,116, yielding a substantial monthly savings of R7,155.
We lower your interest rate
Financial service providers are known to offer different interest rates to borrowers, depending on a host of factors, including their financial viability. We have professional relationships with all major financial institutions, which helps us leverage lower interest rates on your behalf. Repaying a R500,000 loan over 36 months at a 15% interest rate would result in approximately R18,025 in monthly payments. However, if you were to repay the same loan at a new interest rate of 12%, the monthly payment would be approximately R17,271, leading to a monthly saving of R754. This translates to a total savings of over R27,144 throughout the repayment term.
We pay out the cash value of your commercial vehicle
If you require immediate access to funds, AutoFin Assist is here to help. We can provide your business with the full retail value of your commercial vehicle in cash, allowing you to repay it as though it were a traditional commercial vehicle loan. This grants access to the capital invested in your commercial vehicle without the need to sell it.
Interested in commercial vehicle refinancing with Autofin Assist?
To qualify for commercial vehicle refinancing, your business would need to qualify for finance. This means that the company’s credit record will come under scrutiny, and it will need to be clear of any judgments. In addition, the individuals applying on behalf of the company must be South African citizens, and the company’s monthly cashflow must cover expenses and monthly repayments.
Refinancing with Autofin Assist is easier and cheaper than applying for a loan through your bank or negotiating the terms of your existing commercial vehicle loan.
Don’t give up your commercial vehicle. Refinance it!
Pay less on your repayments…
Refinancing your commercial vehicle gives you the option to extend the repayment term of your loan, hence decreasing your monthly instalments. Should your business require funds for development or other significant purchases, you can reduce the payments on your commercial vehicle loan to accommodate the additional financial burden.
Save on your overall loan…
Our team will try to secure a more competitive interest rate for your business. As a result, upon completing your commercial vehicle refinancing repayment, you will have incurred less interest on the vehicle compared to repaying it over the same term with your existing financial service provider.
Get the value of your commercial vehicle instantly…
Your business can instantly access the repaid amount of your commercial vehicles, in cash, through refinancing. Should you encounter unforeseen expenses or require immediate cash flow for business operations, refinancing your commercial vehicle provides a prompt solution to access the needed funds without necessitating the sale of the vehicle.
Get cash at a cheaper repayment rate…
The repayment terms associated with refinancing loans, including the payment duration and interest rate, are generally more favourable compared to utilising credit cards. If you require quick access to capital, vehicle refinancing is the solution, as repayments are available over extended periods with lower interest rates than normal credit offers.