FNB Vehicle Finance

FNB Vehicle Finance

Whatever You Wish to Drive, Fly, or Ride

FNB offers tailored vehicle finance solutions to help you acquire the vehicle you desire, whether it’s a new family car, an SUV, or a leisure vehicle.

Vehicle Finance Options

1. Dealership Finance

  • Eligibility: Vehicles 10 years old or newer
  • Finance Amount: Up to R30,000 after deposit

2. Private Vehicle Finance

  • Eligibility: Vehicles 20 years old or newer
  • Finance Amount: Up to R30,000 after deposit

3. Leisure Finance

  • Eligibility: Leisure vehicles
  • Finance Amount: Up to R30,000

Getting Started

FNB provides guidance on what you need to consider before buying a car:

  • Do Your Research: Understand your options and market conditions.
  • Financial Considerations: Assess your budget and potential monthly payments.
  • Legal Implications: Be aware of legal requirements related to vehicle purchases.
  • Insurance Options: Explore various insurance products.
  • Finance Options: Review the types of financing available.
  • Guidelines for Private Vehicle Purchasing: Know what to look for when buying privately.

Buyer Options

Which Agreement Should You Choose?

1. Instalment Sale Agreement
  • Terms: Ranges from 12 to 72 months
  • Interest Rates: Fixed or prime-linked
  • Insurance Requirement: Goods must be fully insured during the agreement
  • Benefits:
    • Ownership of the vehicle once fully paid
    • Claim depreciation and interest against tax if used for business
    • Benefit from resale value
  • Payment Options:
    • Take-A-Break Payment: Option to reduce monthly instalments by adding a balloon payment.
2. Lease Agreement
  • Ideal For:
    • Those wanting to fix maintenance costs
    • Businesses needing to use expensive items without ownership
    • Rapidly depreciating vehicles
  • Terms: Ranges from 12 to 72 months
  • Benefits:
    • Use without ownership
    • Repayments can be claimed as a business expense
    • Flexible payment structures available
  • Residual Value: Payable at the end of the lease, allowing for reduced monthly instalments.

Insurance and Warranty Options

FNB provides a range of insurance and warranty products to protect your investment:

  • Comprehensive Insurance: Covers the vehicle to protect both the customer and FNB.
  • CoverPlus: Shortfall insurance covering the difference between the amount owed and the insurance payout.
  • Customer Protection Plan (CPP): Covers outstanding balance in case of death or permanent disability.
  • Vehicle Warranty: Covers mechanical breakdown after the manufacturer’s warranty expires.
  • Retrenchment Policy: Pays up to 9 monthly instalments if you are involuntarily retrenched.
  • Deposit Protector: Reimburses your deposit if the vehicle is stolen or written off.
  • Courtesy Car Policy: Provides a courtesy car for 21 days if your car is stolen, written off, or damaged.