MFC Vehicle Finance Calculator
Work out your monthly MFC car instalment at MFC's typical mid-market rate. The slider is pre-filled with 12.25% (prime + 2%) — adjust to model your own offer or compare scenarios. SA prime is 10.25% as of May 2026.
On-the-road price the dealer is asking — VAT included.
10% of price · 10% is the SA norm.
Trade-in works exactly like a deposit — reduces what you finance.
MFC typical offer ≈ 12.25% — Currently prime + 2% (SA prime is 10.25%, May 2026). Vehicle finance typically prices at prime + 1% to prime + 4%.
60 months is the SA mid-point. Longer term = lower monthly, more interest, longer time underwater on the loan.
Defers part of the loan to a final lump sum. Lowers the monthly but you still pay interest on the balloon balance every month — and you owe the lump sum at the end of the term.
Monthly instalment
R 8 123
R 360 000 financed over 60 months at 12.25%
Amount financed
R 360 000
R 400 000 − R 40 000 upfront
Total interest
R 123 213
34% of loan
Total cost of credit
R 488 561
instalments + balloon + fees
What you actually pay
- Monthly instalment (capital + interest)
- R 8 054
- Monthly admin / service fee
- R 69
- Total per month
- R 8 123
- Once-off NCA initiation fee (start of term)
- R 1 208
- Effective cost of financing
- 22.1% of vehicle price
Uses the standard amortisation-with-residual formula. Excludes comprehensive car insurance (typically R800–R2,200/month, required by all SA banks for financed vehicles) and any tracker subscription. Most SA vehicle finance is variable-rate — your actual instalment will rise or fall when SARB changes the repo rate. Try the affordability calculator to see the price you actually qualify for.
Ready to apply with MFC?
Get a real quote — your actual rate depends on income, deposit, credit profile and the specific vehicle.
About MFC, a division of Nedbank Limited
MFC (originally Motor Finance Corporation) is the vehicle and asset finance division of Nedbank. It's one of the four major SA VAF lenders alongside WesBank, Standard Bank VAF and Absa Vehicle Finance, with deep dealer relationships across the country.
MFC's positioning: most aggressive of the big four on rate matching. If you bring MFC a written offer from WesBank or Standard Bank, MFC will frequently match or beat it — particularly for borrowers who already bank with Nedbank. MFC also runs the vehicle finance for several private-bank channels (Investec, Discovery Bank co-financing on premium models), which is why a MFC offer often shows up alongside what looks like a WesBank-only dealer-floor deal.
What's specific to MFC
- ›Nedbank's specialist VAF arm — operates as MFC at the dealership, Nedbank in your banking app.
- ›More flexible than WesBank on rate-match if you bring a competing quote.
- ›Existing Nedbank clients get a small loyalty discount on the rate.
- ›Finances both retail and small-business vehicle purchases (LCV, panel vans, light bakkies).
Typical rate
12.25%
prime + 2%
Typical range
10.75–15.25%
By profile
Provider type
SA bank VAF
Universal SA bank
MFC car instalments at a glance
Four worked examples at MFC's typical 12.25% rate over 60 months, each with the standard 10–15% deposit. Type the same numbers into the calculator above to verify or change the term.
R250k entry hatchback, 10% deposit
12.25% over 60 months
R400k mid SUV, 10% deposit
12.25% over 60 months
R400k mid SUV, 10% + 30% balloon
12.25% over 60 months
R600k bakkie, 15% + 35% balloon
12.25% over 60 months
MFC vehicle finance — frequently asked questions
What rate does MFC charge on car finance?
MFC's typical mid-market rate on a new car with 10% deposit over 60 months is prime + 1.5% to prime + 2.5% (11.75–12.75% at the current 10.25% prime). Top-tier applicants — high earners with strong credit and 20%+ deposits — can get prime + 0.5% to prime + 1% (10.75–11.25%). Used cars and weaker credit profiles see prime + 3% to prime + 5%. The calculator defaults to prime + 2% (12.25%), the modal MFC offer for an average new-car buyer.
Is MFC the same as Nedbank?
Functionally yes — MFC is the trading name of Nedbank's Vehicle and Asset Finance division. The contract is with Nedbank, the regulatory licence is Nedbank's, and the loan shows up on your Nedbank Money app statement. MFC is the brand used at the dealership and in marketing because it has stronger consumer recognition in the motor industry, where 'Nedbank' is associated with banking and bonds. Both names refer to the same lender.
Does MFC match rates from WesBank?
Often, yes — MFC is reputationally the most flexible big-four VAF lender on rate matching. If you bring MFC a written offer from WesBank, Standard Bank VAF, or Absa, MFC will frequently match or undercut by 0.10–0.25% to win the deal. The success rate of a rate-match request depends on your profile: strong applicants asking for a 0.25% match usually get it; thin-credit applicants asking for 0.50%+ usually don't. Always negotiate before signing.
Can I get MFC finance on a private-sale used car?
Yes — MFC finances private-sale used vehicles, but with stricter conditions than a dealership purchase: the car must pass an MFC-approved roadworthy and valuation, the seller must provide a clear NaTIS document, and the rate is typically 0.5–1.0% higher than the dealer-finance rate on the same car (because MFC takes more risk on private sales). Many SA private-sale buyers route through a dealer-as-intermediary instead, which is administratively cleaner but adds dealer mark-up to the price.
How fast does MFC approve an application?
Pre-qualification through Nedbank's Money app takes minutes for existing customers. Final approval with the vehicle identified is usually same-day for clean profiles, 24–48 hours if there are queries on income or credit history. Once approved, MFC can pay the dealer and release the vehicle within 1–2 working days — the only delay is registration of ownership at the licensing authority, which the dealer handles.
Sources: Default rate of 12.25% reflects MFC's typical mid-market offer based on 2026 SA dealership finance practice and published SA bank VAF tariff guides. SA prime rate (10.25%) and repo rate (6.75%) sourced from SARB. NCA fee caps from Regulation 42. Calculator uses the standard annuity-with-balloon formula. MFC does not publish vehicle finance rates; every offer is individualised based on credit score, deposit, vehicle type, term and whether the car is new or used. This page is informational only — get a real quote from MFC or a competing lender before making any decision. Not financial advice.