Asset Based Finance
Purchasing a vehicle can be a dream come true. However, you can choose to spend weeks of filling a document with the same number of pages as your novel in the shelf, with all the formalities and frustrations OR you can come to Nedbank. Through the Asset Based Finance, Nedbank will ensure that you enjoy the process of purchasing a vehicle and get you behind the wheel with maximum speed and efficiency in 48 hours.
Features & Benefits
The Nedbank Asset Based Finance / Lease (ABF) will enable you to purchase:
- Personal vehicles (new and 2nd hand)
- Commercial vehicles
- Motor Cycles
- Plant and Equipment
- Preferential rates: the client who has two or more active Nedbank accounts does not only enjoy a preferential rate, but also qualifies for other facilities at Nedbank
- Interest is linked to Prime
- Monthly payments by Debit Order payment: payment to the ABF can be done via a debit order directly to your bank account.
a) The clients’ affordability to service monthly ABF repayments
b) Current Audited Financial Statement of the Business (in the case of Corporate, SME and Institutional Banking Clients)
c) Interest is calculated on the outstanding daily balance and debited monthly on the 1st working day of the following month.
d) Assets to be financed must meet the following requirements:
- Be purchased from a recognized and reputable dealer
- Be readily marketable
- Be registered merchandise
- Be readily identifiable (serial/registration number)
e) For your own peace of mind, all vehicles financed by Nedbank must be comprehensively insured against theft and damage so why not simply arrange cover at the same time as you arrange finance. We can point you to the right direction to give you the benefit of a one-stop service.
Cost and Charges
- New Vehicles: paid up to a maximum period of up to 60 months, giving you the flexibility and convenience of better cash flows
- Pre-owned Vehicles not older than 5 years: paid over 36 months
- Management fee of 1% (min E 100)
- Normal Stamp Duty
Nedbank with its associated service providers can now arrange for Roadside Assistance, Trauma Link, Medical Assistance, Tracker Installation, courtesy car when needed in the event of an accident as part of the complete Nedbank Vehicle Finance package.