Nedbank Vehicle Finance Calculator
Work out your monthly Nedbank car instalment at Nedbank'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.
Nedbank 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 Nedbank?
Get a real quote — your actual rate depends on income, deposit, credit profile and the specific vehicle.
About Nedbank Limited
Nedbank's vehicle finance is the same lender as MFC — MFC is the trading name of Nedbank's Vehicle and Asset Finance division. The brand split exists because 'MFC' has stronger recognition at SA dealerships (where motor-industry brands rank higher), while 'Nedbank' has stronger recognition in retail banking. A Nedbank-app application and an MFC dealership application are routed to the same underwriting engine and produce the same rate offer.
When you should apply via Nedbank rather than via MFC: if you already bank with Nedbank, applying through the Nedbank Money app gets you the existing-client loyalty discount baked into the offer (typically 0.25%), and the loan shows up cleanly in your Nedbank statement alongside everything else. If you don't bank with Nedbank, applying via MFC at the dealership gets you the same rate with less friction.
What's specific to Nedbank
- ›Same lender as MFC — Nedbank Money app application = MFC dealership application.
- ›Existing Nedbank clients get a small loyalty discount baked into the offered rate.
- ›Loan shows up in your Nedbank Money app alongside your other Nedbank products.
- ›Most aggressive of the big four on rate-matching if you bring a competing offer.
Typical rate
12.25%
prime + 2%
Typical range
10.75–15.25%
By profile
Provider type
SA bank VAF
Universal SA bank
Nedbank car instalments at a glance
Four worked examples at Nedbank'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
Nedbank vehicle finance — frequently asked questions
Is Nedbank vehicle finance the same as MFC?
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. Whether you apply at the dealership (where the brand is MFC) or via the Nedbank Money app (where the brand is Nedbank), the underwriting engine, the rate, and the loan terms are the same. The brand split is a marketing decision about consumer recognition in different channels.
Should I apply through Nedbank or through MFC at the dealership?
If you already bank with Nedbank, apply through the Nedbank Money app. The app captures your existing-customer discount automatically (typically 0.25% off the dealership rate), and the loan shows up cleanly in your existing banking. If you don't bank with Nedbank, apply through MFC at the dealership — the rate is the same as a walk-in Nedbank application, but the dealer-floor process is faster than opening a new banking relationship just to access the in-app journey.
What rate does Nedbank charge on vehicle finance?
Nedbank's typical mid-market rate on a new car with 10% deposit at 60 months is prime + 1.5% to prime + 2.5% (11.75–12.75% at today's prime), in line with WesBank and Standard Bank VAF. Existing Nedbank Private Banking clients can negotiate to prime + 0.5% (10.75%). Used cars and weaker credit see prime + 3% upward. The calculator defaults to prime + 2% (12.25%), the modal Nedbank offer on a new-car application.
Will Nedbank match a competing vehicle finance offer?
Often, yes. Nedbank (via MFC) is reputationally the most flexible of the big-four SA VAF lenders on rate-matching. If you bring Nedbank a written offer from WesBank, Standard Bank VAF, or Absa, the bank will frequently match or undercut by 0.10–0.25% to win the deal. The success rate depends on your profile: clean credit and a 10%+ deposit usually get a match, thin-credit or zero-deposit applications less often.
Does Nedbank finance both new and used cars?
Yes — Nedbank (and MFC) finance new cars from any franchised dealership, certified used cars under approved age limits (typically up to 8 years old at point of finance for shorter terms), and private-sale used cars subject to a Nedbank-approved valuation and roadworthy. Used-car rates carry a typical 0.5–1.0% loading versus the equivalent new-car rate, and balloons are usually only available on new cars or used cars under 3 years old.
Sources: Default rate of 12.25% reflects Nedbank'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. Nedbank 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 Nedbank or a competing lender before making any decision. Not financial advice.