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How Much Cash Can I Get Out?

When it comes to refinancing your car, the interest rate you qualify for depends on several factors like your credit score, income, loan term, and the type of vehicle you're refinancing. At Refinance A Car , we simplify this process by negotiating the best possible rate for you, ensuring you get the most favorable terms available. Here's how it works:

Factors Affecting Your Interest Rate

Your Credit Score

Your credit score plays a key role in determining your interest rate. At Refinance A Car, we work with lenders to help clients across the credit spectrum. Typical credit score categories include:

Excellent (740+)

Qualifies for the best interest rates.

Good (670-739)

Eligible for competitive rates.

Fair (580-669)

Higher rates may apply, but refinancing is still possible.

poor(<580)

Higher rates may apply, but refinancing is still possible.

By refinancing your car with us, you can settle your existing loan early, which positively impacts your credit score. Lenders see early settlements as responsible financial behavior, boosting your score.

Prime Lending Rate and Negotiation

In South Africa, the prime lending rate is the benchmark for interest rates (currently around 11.50%). While most lenders base their rates on this, Refinance A Car actively negotiates with lenders to secure the best deal, often below the rates you'd get on your own.

Loan Term and Vehicle Type
Shorter terms

Often have lower rates but higher monthly payments.

Longer terms

More manageable payments but slightly higher rates.

Vehicle type

Newer cars generally qualify for lower rates due to their higher collateral value.

At Refinance A Car , we ensure that regardless of your loan term or vehicle type, you’re matched with the best rate to suit your needs.

Why Refinance?

Lower Monthly Payments

Reduce your financial stress with better terms.

Save on Interest

A lower rate means significant savings over the life of your loan.

Boost Your Credit Score

By settling your existing loan early, you demonstrate financial responsibility, which improves your credit score.

Access Cash

Tap into your vehicle’s equity to cover other financial needs.

Improved Loan Terms

Switch to a trusted lender with more favorable conditions.

Let’s Get Started!

Refinance A Car is here to make the process simple, quick, and beneficial. We’ll handle the negotiation, secure the best rate, and help you enjoy the financial freedom and credit boost you deserve. Contact us today to explore your options!

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Contact Us
info@refinanceacar.co.za
P.O Box 418, Sandton
Gauteng
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32 Mercury street, Eastrand Office Park, Benoni, 1500
* Monthly Payment – Average monthly payment savings may result from a lower interest rate, longer term, or both. Your actual savings may be different.
** APR — APR is the Annual Percentage Rate. Your actual rate may be different. The APR is based on a number of factors including your credit profile and the loan to value of the vehicle.
Advertised 11% APR based on a representative example of refinancing a 2015 or newer vehicle with a credit score of 600 for a term of 72 months.
All our finance partners are registered financial service providers.