REFINANCE MY CAR
Lower payments, breathe easier, and stay in the car you love.
Refinancing Your Car Can Change Everything
Life happens. Expenses rise. Budgets tighten.
And sometimes the monthly car installment you could previously manage suddenly feels impossible to keep up with.
You’re not alone —
and you don’t have to lose your car or drown in stress.
Refinancing your car (or vehicle refinancing) gives you the opportunity to:
Reduce your monthly instalment
Secure a better interest rate
Access quick cash if you need it
Restructure your loan in a way that actually supports your finances
Remove or reduce a balloon payment
Keep the car you love — without the pressure
At MY OWN FINANCE, we help South Africans restructure their car finance in a simple, supportive, and stress-free way.
We look at your full financial picture and guide you toward the option that gives you relief, not more worry.
WHY REFINANCE YOUR CAR?
End-to-End Finance Support - We Handle Everything For You
Lower Your Monthly Instalment
Refinancing your vehicle allows you to reduce your installment by extending your loan term, lowering your interest rate, or both. It’s one of the easiest ways to get breathing room in your budget.
Access Instant Cash
If your car’s retail value is higher than your current loan balance, you can refinance it and receive the difference as cash. Many clients use this to pay off debt, build an emergency fund, or catch up on essential expenses.
Reduce Your Interest Rate
If your original interest rate was high, refinancing can lower it — saving you thousands over the lifetime of your loan.
Keep Your Car, Even When You’re Under Pressure
Refinancing can help you avoid downgrading or giving up your vehicle. You don’t have to lose what you love just because things are tight.
Manage or Remove Balloon Payments
If a balloon or residual payment is coming due, refinancing can help you restructure or settle it without draining your savings.
From application to approval, we handle everything —
negotiations, paperwork, comparisons and finance structuring.
You get a hassle-free, transparent process from start to finish.
HOW VEHICLE REFINANCING WORKS
We’ve simplified the entire process into THREE supportive, easy steps:
Step 1: Complete Our Short Online Application
It takes just a few minutes and helps us understand your
current instalment, interest rate, outstanding balance, and financial needs.
Step 2: We Assess Your Loan & Run the Numbers
Our team reviews your car’s retail value, your existing loan structure, the remaining term, and possible risk factors. We then compare offers from multiple banks to see where we can save you the most.
You don’t need to speak to multiple banks — we do it all for you.
Step 3: Choose the Best Refinance Option
We present you with clear, uncomplicated options such as:
Extending your loan term
Refinancing at a lower interest rate
Refinancing at retail value to access cash
Refinancing your fully paid-off vehicle
Restructuring your balloon payment
Reducing financial pressure through lower repayments
You decide what works for your budget — and we handle everything from start to finish.
What You Can Gain From Refinancing
lower monthly repayments
reduced interest rates
Cash in your pocket
better finance structure
more flexibility
no need to downgrade
relief from balloon or residual payments
a smoother + more manageable finance
financial relief
MY OWN FINANCE exists to help you breathe again — without judgment, pressure, or complicated jargon.
STILL NOT SURE?
Frequently Asked Questions
Question 1: Will refinancing hurt my credit score?
No — applying does not impact your score. In fact, paying a lower installment more consistently can improve your credit profile over time.
Question 2: How long does car refinancing take?
Most approvals take 24–48 hours once we have your documents. We will guide you through each step.
Question 3: Can I refinance a car with a balloon payment?
Yes, absolutely. Refinancing is one of the best ways to handle a balloon payment without financial strain.
Question 4: What documents do I need to refinance my car?
You’ll typically need:
SA ID
3 months’ bank statements
Latest payslip
Proof of address
Existing settlement letter (we can help you get this)
Question 5: Can I get cash when refinancing my vehicle?
Yes! If your car is worth more than your outstanding balance, you can refinance at retail value and receive the difference in cash.
Question 6: Can self-employed applicants refinance?
Yes. If you’re self-employed, we can advise you on the documents required and guide you through a smooth approval process.
Question 7: Do I have to change insurance when refinancing?
Not necessarily — but many clients qualify for lower premiums with a new finance structure.
Question 8: Is refinancing a paid-off car possible?
Yes. You can refinance a fully paid-up vehicle and access cash based on its current retail value.
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Disclaimer: MY OWN FINANCE is an independent vehicle finance facilitator. We are not a bank or credit provider. All finance approvals, interest rates, instalments and terms are subject to the credit assessment policies of South African banks and authorised finance partners. Calculators and website tools provide estimates only and do not constitute financial advice or a final offer.
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Regulatory Compliance: Our processes follow FAIS, FICA, and South African consumer finance guidelines. Final loan terms and approvals remain at the discretion of authorised financial institutions.