Looking for an affordable car finance with up to 100% finance? We will assist you all the way, from calculating your payments to insuring your car. Already applied for finance? Then track you application online, anywhere, anytime.

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How much can I afford?

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Value-adding insurance
Value-adding insurance

Apply for our value-adding vehicle insurance products.

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How do I qualify for a car loan as a first-time buyer?

Firts time buyer

My roadmap to buying my first set of wheels

  • I want a payment option that will suit my pocket

    Paying a deposit will:
    • Reduce your monthly payments.
    • Reduce interest over the term.
    Trading in your old car
    • Trading in your old car takes away the hassle of looking for a private buyer.
    • Before trading in your car, find out your car’s value.
    • Shop around for the best trade-in deal.
    • Make sure your car is presentable – clean and in a good condition inside and outside.
    • Know beforehand what the minimum amount is you would trade your car in for..
    • If you still owe money on your car loan, find out  what the settlement amount is.
    Balloon payments
    • A balloon payment amount is a lump sum payment that is owed to the bank at the end of the loan term after all monthly repayments have been made.
    • It affects the amount of your monthly repayments as well as the amount you will owe at the end of the loan term.

    For example: 

    If you borrow R200 000 over 5 years and select to have a R50 000 balloon payment on your loan, your monthly repayments will be lower than if you didn’t have a balloon payment. However, you will still owe R50 000 on your car at the end of the 5-year term. You can reduce the residual amount by making a bigger once-off payment during the repayment term.

    Benefits of balloon payments:

    • You may pay lower monthly instalments.
    • No deposit is required.
    • You can sell your car at the end of the loan term and use the money to pay the loan off.
  • What insurance options can I choose from?

    We can cover your vehicle against loss, accident, theft and write-off

    Our car insurance products are tailor-made for you, offering you a range of choices to choose from, including:

    • Comprehensive insurance
    • Third-party, fire and theft
    • Third-party only

    Underwritten by Absa idirect Limited.

    Tell me more


    Our mechanical breakdown warranty is a mechanical breakdown insurance policy that covers your vehicle against mechanical failure and related costs.

    It provides cover for new and used passenger and light commercial vehicles, following the expiry of the manufacturer’s warranty.


    • Repair or replacement of components due to unforeseen mechanical breakdown or electrical failure
    • Cover is available for new or used vehicles
    • Comprehensive insurance excess payment
    • Roadside assistance benefit
    • Transferable with the vehicle when you sell your vehicle
    • It provides cover to you for a period of two years

    Underwritten by Absa Insurance Company Limited. Premiums are valid for the duration of your finance agreement. Cover ceases at the end of the finance agreement.

    Compare our solutionsApply

    Credit Protection

    Our Credit Protection Plan will settle the outstanding balance on your vehicle finance account should you pass away, become permanently disabled or if you are diagnosed with a dread disease.

    Included benefits:

    • Death
    • Disability
    • Dread Disease
    • Retrenchment

    Underwritten by Absa Life Limited. Premiums are valid for the duration of your finance agreement. Cover ceases at the end of the finance agreement.

    Compare our solutions Apply

    Extended cover

    If you have a fully comprehensive car policy in place, extended cover will complement this and ensure that you can cover any shortfalls or small repairs on your vehicle.

    Benefits include:

    • Credit Shortfall Cover. Insures the difference between the value of the vehicle and the outstanding amount owed to the bank. Other factors resulting in further shortfalls include exorbitant excess amounts deducted or rejected claims due to unintentional violation of terms and conditions. Also included are additional car hire, excess payment, minor cosmetic repairs as well as Road Accident Fund claim cover.
    • Photo Finish Benefit. Your car needs to be looked after and this benefit covers you for minor dents and chips up to the value of R5 000.
    • Excess Benefit. Assistance with excess up to the value of R10 000.
    • Unintentional violation. In cases where the vehicle is damaged, stolen or written off, and a term or condition of the underlying policy is unintentionally violated (or not complied with) and the policy is rejected, the unintentional benefit is paid.
    • Car Hire Benefit. The facility to hire a car while looking for another vehicle and obtaining finance in the event of a total loss.
    • RoadCover Benefit. We have partnered with RoadCover to offer our you the benefit that assists you or a member of your family with any claim with the Road Accident Fund at no additional cost.
    • Finance, deposit and registration/Licensing Administrative fees Shortfall Protector. Reimbursement of the shortfall to the you as a policyholder in terms of the deposit paid as well as the registration/licensing and administrative fees at the time of purchasing a vehicle. This extension only applies when your motor vehicle has been stolen and not recovered, or written-off, and the claim has been settled by either the underlying insurer.

    Underwritten by Absa Insurance Company Limited. Premiums are valid for the duration of your finance agreement. Cover ceases at the end of the finance agreement.

    Compare our solutions Apply

    Contact us

    Email us for more information on our value-adding insurance products:

    Credit Protection: Vehicle.creditprotect@absa.co.za

    Warranty: Absa@za.innovation-group.com

    Extended Cover: Extended.cover@absa.co.za


  • What’s best for me – a new or used car?

      Buying new Buying used
    PROS A new car has the latest features and updated technology.  It’s an affordable option if you have a small or fixed budget.
      You can pick from a greater variety of vehicles. The value of a car depreciates fast and that’s why it is often a good reason to buy used instead of new.
      You have more choices about colour schemes or trim combinations and extras or upgrades. When buying a used vehicle, it is safer to buy a vehicle that has been quality checked and certified by a dealer.
      You can get great deals when dealerships offer discounts on demo vehicles. “Barely used” and “demo” cars can often include a warranty and maintenance plan.
      Buying new Buying used
    CONS It is considerably more expensive than buying used. A used car can cost you more over the lifespan of the vehicle.
      Most new cars immediately loses value as you drive it out of the dealership.  It may require maintenance and repairs far sooner than a new car.
      Optional features may add considerably to the price of the car. Available features, choice of colour, etc. are often limited.
      Insurance, taxes and registration fees are higher. Used car repairs are often not covered by a warranty.

What to look out for when buying another car

Buying Another Vehicle

Consider these handy tips when you are replacing your current car, whether you are selling it privately or trading it in. Also give some thought to whether you want to buy an out-of-the-box or older car.

  • Do you first want to sell your other vehicle?

    Tips for selling your vehicle privately
    • You can often get a higher price if you sell your car privately.
    • When you write your ad, always be accurate, honest and concise.
    • Ensure that you have good quality photos of your car.
    • Don’t ask for too high or too low a price - this can make buyers wary.
    • Make sure that your motor vehicle is clean when prospective buyers come to view and test drive the car.
    • When you take people to test drive your car, make sure you have screened them for your own safety.
    • Have all documentation - such as the service history and instalment receipts.
    • Ensure the car is roadworthy by obtaining a roadworthy certificate from a reputable company.
    Tips for selling to a dealer

    Although it’s a safer option when you sell your car to a dealer, you must know that you could probably get a better price selling your vehicle privately. If you already have a car and are planning to buy a new one, it’s a good idea to sell to a dealer, because they will consider trading in your old car as a part of the deal irrespective of brand.

    • Shop around for the best deal you can get, but if you find that you are not getting the price you want - consider a private sale.
    • Dealers are often willing to negotiate, so don’t settle for the first deal you get.
    • If your car is currently financed, ensure you have the amount that is needed to settle your loan or you will be liable for the shortfall.
    • You do not have to stick to the same brand of car – dealers offer trade-ins on any brand.

    Find a dealer

  • Do you want to buy a vehicle older than 7 years?

    Things to consider:

    Buying a vehicle older than 7 years is an affordable option if you have a fixed budget. You could get the most value on a used vehicle for the least amount of money.

    Resale value

    • Depreciation is usually a good reason to buy used instead of new, but vehicles in high demand tend to retain their value better. 
    • Some brands have lower depreciation and better resale value because of their quality and reliability records.

    Certified programmes

    • Buying used has been improved in recent years by certified programmes in which used cars are quality checked by dealer groups before resale.
    • Usually, only late-model, relatively low-mileage vehicles with no history of major accident damage are considered for quality checks.
    • The vehicles are inspected for mechanical and cosmetic defects and restored to like-new status.
    • They are usually sold with a warranty that often includes similar features to those offered in a new vehicle warranty.
    • Certified used cars are generally sold at a premium, but the extra outlay is perceived to be worth the peace of mind that quality checked vehicles provide.

Things to consider when looking for your dream car

Looking For A Vehicle

You have various options when searching for your new car. Here are some great tips to help you to get an affordable deal and value for your money before buying.

  • You can buy a repossessed vehicle

    Why buy a repossessed vehicle?
    • Cars are offered at wholesale prices.
    • You can get a fantastic deal if you do your homework before bidding.
    • The cars are on display in the auction centre the day before and on the morning of the auction. 
    • You can inspect the cars and compare car prices. 
    What do I need to know?
    • You can get a list of repossessed vehicles days before the sale from a Repossession Centre.
    • All cars are sold as “voetstoots”, which means no guarantees or warranties apply.
    • You need to register as a buyer before the auction starts.
    • You must pay a refundable deposit (usually R5 000 but the amount depends on the auctioneer).
    • Only bank-guaranteed cheques and confirmed electronic transfers are accepted as payment.
    • Bring your South African ID (or a certified copy of it).
    • Proof of physical address is required.

    In the event of a legal entity being the purchaser (e.g. company, trust or close corporation) a copy of the trust deed, articles of association or similar document, indicating the beneficiaries, trustees, shareholders, directors or members, is required.

    When and where are auctions held?
    • Gauteng and other big regions have bi-weekly public auctions.
    • Smaller regions have an auction once a month.
  • You could find your dream car at a trade centre

    Auctions at trade centres

    Check our list of repossessed vehicles available at upcoming auctions.

    Tell me more

  • Search for your car at our Absa approved dealers

    An Absa approved dealer will be able to help you through your entire car buying journey from start to finish. Take a look at our list of approved dealers in your area.


need more help

Need more help?

Let one of our consultants help you get the best loan for your needs.

Call us on:

0860 669 669

Call Islamic Car Finance on:

0860 000 786

Visit your nearest branch