Fund My Car | Real estate agents

Buy Your Dream Home
Using Your Car!

By refinancing your vehicle through Fund My Car, you can increase the likelihood of securing the home loan you need for the home you want.

Attention all Real
Estate Agents!

Close more sales and earn commission

Reduce Instalments

Reduce your monthly vehicle repayments with lower interest rates

Increase Affordability

Qualify for a higher home loan by improving your affordability

Access Cash

Access cash “locked up” in your vehicle to fund fees, moving costs or renovations

The Challenge

Don't lose out on purchasing your dream home

Monthly financial commitments, including car repayments, can impact your affordability score, and prevent you from securing the mortgage bond you need to purchase a property, or the one you really want. Also, the bank may not make a high enough home loan offer to cover the additional costs of a new property, like transfer fees, moving charges, or renovation costs!

This could mean that you lose the chance to purchase your dream home, leaving you disappointed and frustrated. Fund My Car understands this is a real challenge for many South Africans.

Your car, motorbike, caravan or even trailer could help you to secure that dream home for you and your family

Fund My Car can help you improve your affordability and qualify for a bigger bond in one of two ways:

✔

Reduce Monthly Instalments

Reduce monthly vehicle instalments by securing a better loan rate on existing car finance.

✔

Gain Access To Cash

Refinance a car (or any other vehicle) to gain access to CASH for transfer fees or moving costs.

VEHICLE REFINANCE

How It Works

There are a few ways that refinancing a vehicle can assist you to save on your monthly instalments or access a cash lump sum.

Option 1

Refinance your vehicle to lower the monthly instalment

When your vehicle is on finance, you will be liable to pay an instalment every month. This instalment usually remains the same until the term is complete.

>Example

Vehicle Loan: R400,000
Loan Term: 72 Months
Monthly Repayments: R7,000 pm
Settlement Amount: R125,000
Fund My Car arranges to refinance the vehicle for retail value of R225,000. The instalment will be reduced to R3,500 pm and there will be a cash out payment of R100,000 to pay for other new home expenses like legal fees, moving costs or renovations.

The above example is given for illustrative purposes. Each case will have unique Ts & Cs.

Option 2

Refinance your vehicle to access cash on a vehicle that is still on finance

The calculation of how much cash could be accessible by refinancing your vehicle is dependent on all or some of the following factors:

The length of time the vehicle has been on finance
Whether a deposit was paid
Whether there was a trade in with purchase

If the retail value of the vehicle is more than the settlement amount, the cash out will be the difference between them. It is also possible that your instalment may decrease.

>Example

Vehicle Loan: R400,000
Loan Term: 72 Months
Monthly Repayments: R7,000 pm
Settlement Amount: R125,000
Retail Value: R225,000
Fund My Car arranges to refinance the vehicle for R125,000, which reduces the repayment value to R2,000 monthly. The client now has an additional R 5,000 a month available and will be able to afford repayments on a higher bond value.

The above example is given for illustrative purposes. Each case will have unique Ts & Cs.

Option 3

Refinance your paid up vehicle to access cash

You may not know that it is possible to refinance a vehicle which is fully paid up. Fund My Car can arrange to refinance your vehicle for the full retail amount which you can allocate to those new home expenses like legal fees, moving costs or renovations. The minimum amount that you can refinance is R35 000.

Option 4

Private To Private Finance

Vehicle, Bike, Boat, and Caravan Private Sales Facilitation Service

We offer a comprehensive service to facilitate the private sale of your vehicle, bike, boat, or caravan. Our team handles all necessary paperwork and registrations, ensuring a smooth and hassle-free transaction for both the seller and buyer. With our expertise, you can focus on selling while we take care of the details, from drafting contracts to finalizing the transfer of ownership.

The Process

Vehicle Refinance In 3 Easy Steps

Get in touch with us about refinancing your vehicle.

Submit Your Documents

Send us your consent form & settlement letter if your vehicle is still financed.

Accept Your Quote

Review your quote of your new reduced instalments or cash payout, & accept!

Get Started

Qualifying Criteria

All of the following criteria need to be met for your application to be considered:

Vehicle less than 10 years old and value of R50,000 or more
Permanently employed with monthly salary of at least R8,000
If applicant is self-employed, the business must be registered and older than two years
Clear credit profile OR acceptable credit score
SA ID Document AND SA Driver’s License
Foreigners require SA Driver’s License, Work Permit and Passport
We can assist Pensioners but they will require Proof of Income

Fund My Car WILL NOT be able to assist clients who are blacklisted, under debt review, or anyone who has accounts in arrears or defaults.

with us today to become a registered Real Estate Agent and start earning commission

Or contact us on 010 900 5442