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)
Rates may be higher, but refinancing can help improve your credit over time.
Tip: 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.
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.
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.
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
Settle your existing loan early to demonstrate financial responsibility.
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 financial freedom. Contact us today to explore your options!