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Frequently Asked Questions

While paying off your current vehicle, you might feel that your instalment is too high, or the interest rate that you signed for at the time, is too high.

This is where we can help. A lower rate, or a longer, even shorter term, or cash out on your new contract, can be negotiated through our capable staff, directly with the bank of your choice.

We can submit to all lenders and see who offers the most competitive rate, or which bank is the most flexible when structuring a tailor made deal for you.

The short answer is "no". The banks will do a background check as they would with a normal credit application.

Yes. Applying for refinance can lower your monthly expense on instalments, by possibly lowering your interest rate as well as initial debt amount. By applying you have nothing to lose.

Whenever the market or your own circumstances have changed, for example, when the prime lending rate has dropped, the conditions are more favorable to qualify for a lower rate.

A first-time buyer can apply for refinance after about 1 year to see if the bank would consider a lower rate.

The first option is to prolong or shorten the finance period.

The second option is to attempt to lower the interest rate from the lender.

The third option is to get cashback. In the event of cashback, your vehicle typically should have been paid for about 2 to 3 years, or a substantial deposit was paid at the beginning of the contract.

The main aim is to save on a monthly basis. Lowering your premium does exactly that, and in the event of a first-time buyer where the initial interest rate was very high, a significant saving can be seen when a lower rate is obtained.

When your monthly instalment is too high as a result of a high outstanding balance, a lower installment might be exactly what is needed. When refinancing, the initial debt will be a lower amount, and going forward your premium will be lower.

APPLY FOR REFINANCING TODAY

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