Car finance: Purchase your dream vehicle!
Finding your perfect vehicle can be an exhilarating experience, but securing financing at a price point that suits your individual circumstances may prove challenging.
Fortunately, with AutoFin Assist, you can drive your dream without compromising your financial stability.
How it works
Complete a short online
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.
Wait for your application to be reviewed
We will finalise and process your application and contact you with the outcome.
What is vehicle finance?
Vehicle financing offers a convenient and efficient solution for acquiring a new vehicle without the need to accumulate substantial savings beforehand. By partnering with AutoFin Assist, you can obtain a loan to purchase your vehicle and repay it through manageable monthly instalments.
Given the diverse range of financial service providers, each offering various loan amounts, terms, and interest rates, comparing options when considering vehicle financing is crucial. We simplify this process by conducting thorough research on your behalf to help you secure the most favourable arrangement. Our strategic partnerships with leading financial institutions enables us to broker the most suitable offers for our clients. Whether you prioritise lower interest rates, extended repayment periods, or increased borrowing capacity, our team is committed to finding you the perfect financing for your needs.
Comprehensive car finance support
Car finance operates similarly to other types of loans, wherein a financial service provider grants you the funds needed for your purchase. In return, you agree to repay the amount over a predetermined period with interest. The loan amount you qualify for is contingent on factors such as your credit score, monthly income, and recurring expenses.
Your credit score plays a critical role in determining the financier’s confidence in your ability to repay the loan. Consequently, it is crucial to maintain a healthy credit score and manage your expenses effectively to maximise your borrowing capacity when seeking vehicle financing. It is also essential to note that even with a high salary, you may not necessarily be eligible for a substantial loan if your monthly expenses already consume a significant portion of your income, or your credit history is unfavourable.
Finance my vehicle!
Evaluating and selecting the repayment option that best aligns with your financial needs and capabilities is essential. This ensures your repayment experience is seamless and tailored to your unique circumstances, ultimately contributing to a successful and stress-free vehicle ownership journey.
Basic instalments allow you to borrow money to purchase a vehicle and repay it over two to six years in monthly instalments. The loan duration determines how much you pay each month, meaning that a two-year loan will have larger monthly instalments than a six-year loan. The financier owns the vehicle until you repay the original loan with interest. At that time, the financier will transfer ownership of the vehicle to you.
Instalments with a balloon payment
Similar to basic instalments, balloon payments permit you to borrow funds for purchasing a vehicle and repay the loan through monthly instalments over a period of two to six years. However, with this repayment option, you opt to make a sizeable payment at the end of the term (known as a balloon payment), which also decreases your monthly instalment obligations. The balloon payment method enables you to lower your monthly expenses while simultaneously allocating savings towards the final lump sum payment due at the end of the term.
Understanding the interest…
Repayment of vehicle financing inevitably includes interest charges. The interest you pay is contingent upon the specific agreement brokered by AutoFin Assist between you and the bank. There are two primary methods for repaying interest on your loan: fixed interest rate and variable interest rate, which is tied to the prime rate.
A fixed interest rate ensures that your monthly repayment amount remains constant throughout the payment period, providing stability and predictability. Variable interest rates are linked to the prime rate (e.g., prime plus two percent), and make your monthly instalment amounts fluctuate as the interest rates change.
The advantages of vehicle finance
Did you know your bank might not offer you the best financing options? Our expertise and dedication to client satisfaction make us ideal for managing your vehicle financing needs. Here’s why you should finance your vehicle through Autofin Assist:
We can compare various options and find the best one for you! We negotiate lower interest rates, longer payment terms or larger sums to help you get the car of your dreams at a repayment that is affordable for you.
Vehicle finance is our expertise. Instead of trying to bargain for a better deal with financial service providers yourself, let us do it for you!
We not only assist our clients with their vehicle finance applications, but we also have access to a range of repossessed vehicles – helping you find your vehicle for less.
Qualifying for AutoFin Assist’s vehicle finance
To be eligible for vehicle financing, it is essential that you demonstrate a consistent monthly income, which can be verified through payslips or bank statements. Individuals should also maintain strong credit scores, as it reflects their reliability in repaying debts. Your credit score is influenced by factors such as punctuality in loan repayments, regularity of instalment payments, the extent of your debt, and any history of judgements or blacklistings.