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I can't make my payment this month

If a single, unforeseen expense has come your way and you just can't make a single instalment, read more here.

Your Options

Pay back arrears in a lump sum

Pay back the amount you owe all in one go.

Benefits

  • If this option is available to you, it's the best possibility
  • Improved credit record
  • Pay minimal arrears interest

 

What To Do

  1. Find out what you owe by checking your latest statement. You can also request your outstanding balance by SMS or Email.
  2. Using your vehicle account number as the beneficiary reference, pay the outstanding amount into the following account:

     

    Please follow the below instructions when wanting to make cash or EFT payments.

    Cash or Cheque Deposits

    When For cash or cheque deposits visit your nearest Nedbank branch and make payment into your MFC vehicle finance account at a teller. Please use your 11 digit MFC vehicle finance account number as the reference number.

    MFC vehicle finance account number e.g. 1234567 0001

     

    Payments via EFT (Electronic Funds Transfer)

    When making an EFT payment, select 'MFC, a division of Nedbank' on the bank-approved beneficiary list on your internet banking website. You must capture your 11 digit MFC vehicle finance account number as the beneficiary reference when making the payment.

    Bank: Nedbank

    Bank Approved Beneficiary: MFC, a division of Nedbank

    Beneficiary reference e.g. 1234567 0001

 

Possible Drawbacks

This option is only possible if a lump sum repayment is doable

Pay back arrears over three months

Pay back the amount you owe over three months

Benefits

  • If this option is available to you, it’s a great choice
  • Improved credit record
  • Pay minimal arrears interest

 

What To Do

  1. Find out what you owe by checking your latest statement. You can also request your outstanding balance by SMS or Email.
  2. Call us on 0860 879 900 and ask that your arrears payment be split over 3 months.
  3. Using your vehicle account number as the beneficiary reference, pay the outstanding amount into the following account:

Please follow the below instructions when wanting to make cash or EFT payments.

Cash or Cheque Deposits

When For cash or cheque deposits visit your nearest Nedbank branch and make payment into your MFC vehicle finance account at a teller. Please use your 11 digit MFC vehicle finance account number as the reference number.

MFC vehicle finance account number e.g. 1234567 0001

 

Payments via EFT (Electronic Funds Transfer)

When making an EFT payment, select 'MFC, a division of Nedbank' on the bank-approved beneficiary list on your internet banking website. You must capture your 11 digit MFC vehicle finance account number as the beneficiary reference when making the payment.

Bank: Nedbank

Bank Approved Beneficiary: MFC, a division of Nedbank

Beneficiary reference e.g. 1234567 0001

  

Possible Drawbacks

This option is only possible if it’s affordable to you

Pay your arrears at the end of your term

Pay the amount you owe right at the end of your term

Benefits

  • In most cases, this gives you time to recover financially
  • Improved credit record
  • Pay minimal arrears interest

 

What To Do

  1. Find out what you owe by checking your latest statement. You can also request your outstanding balance by SMS or Email.
  2. Call us on 0860 879 900 and ask that your arrears be added as an additional payment at the end of your term

 

Possible Drawbacks

This option is subject to your payment history and can only be approved once

Arrears interest will be more than in the case of the three-month repayment option

Terms and conditions apply and is subject to approval

Contact Us

p0860 879 900
p0860 879 900
p0860 879 900
p0860 111 159
p0860 879 900
p011 879 9321
p0860 879 900

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