Get back on track with AutoFin Assist: Your financial freedom starts here

Contact AutoFin Assist and Bondfin Assist today:

• **Tel: **011 100 4777

• Websites:

  autofinassist.co.za

  |

  bondfinassist.co.za

Keep driving your car & get much-needed cash… let your car do the work

**Looking for financial freedom? Whether you need access to cash, assistance with vehicle finance or a solution to help manage your financial commitments, AutoFin Assist and Bondfin Assist offer a range of financial services to help you move forward. **

Financial challenges can arise when you least expect them, but finding the right financial solution can make all the difference. With AutoFin Assist and Bondfin Assist, you can explore financing options designed to address different financial needs and circumstances.

Financial solutions to suit your needs

From accessing funds against fixed assets to exploring vehicle and property financing, AutoFin Assist and Bondfin Assist offer a variety of services, including:

• Cash loans on fixed assets:

  Explore options for accessing cash using your fixed assets.

• Vehicle refinancing:

  Consider refinancing options for your existing vehicle.

• Vehicle financing:

  Explore finance solutions for your vehicle needs.

• Balloon payments:

  Find financing options to help address balloon payment commitments.

• Debt consolidation:

  Explore ways to combine existing debt into a more manageable repayment arrangement.

• Second bonds:

  Consider additional financing options linked to your property.

• New bonds:

  Explore bond financing solutions for your property needs.

• Also become a referral agent:

  Seeking well-connected lead referral agents to help expand Autofin’s market reach. In this role, you can leverage your existing network/database, be it friends, family or within your work environment, to identify and introduce qualified business opportunities to their team and expand your opportunity to earn extra cash.

Take the next step towards financial freedom

Whether you’re looking to ease financial pressure, explore new financing opportunities or get your finances back on track, AutoFin Assist and Bondfin Assist offer options worth considering.

**Ready to take the next step? **Get in touch to find out more about the available financial solutions and how to apply.

Contact AutoFin Assist and Bondfin Assist today:

• **Tel: **011 100 4777

• Websites:

  autofinassist.co.za

  |

  bondfinassist.co.za

*Terms and conditions apply. All finance applications are subject to the relevant requirements and approval processes. *

*Note: You must own a car or property; you cannot be blacklisted or under debt review. AutoFin does not offer micro loans, only loans from R30 000 and up for those who are 18 years or older. *

Picture: Supplied

About AutoFin Assist

1. What prompted the establishment of AutoFin Assist, and what gap did you see in the market that you wanted to address?

Too many people were stuck with vehicle finance that no longer suited their lives. They were battling repayments, facing a balloon payment, or needing cash without knowing their options. We saw room for a team that listens first and then looks across several lenders for a workable solution according to your specific situation.

**2. Your message is about putting people ‘back in the driver’s seat’ of their finances. What does that mean in practical terms?

Many clients arrive desperate for a way out. Being back in the driver’s seat means you understand your finances and make the decisions, rather than reacting to them. You keep your vehicle, your monthly commitments become manageable, and our consultants explain every option in plain language, so the choice is always yours.

3. What do you think makes the AutoFin Assist approach different from simply approaching a bank directly?

A bank can only offer its own products. We work with several major banks and financial partners, and each one weighs income, credit history and vehicle age differently.

If one says no, another may say yes, so we match you to the right lender and liaise with them on your behalf. Our fee is a once-off amount paid by the financier. There are no monthly fees, and you pay nothing if your application is unsuccessful.

4. What is the most rewarding part of helping someone who initially feels overwhelmed by their finance situation?

Seeing the relief. Someone arrives anxious and unsure whether they can pay their bills, school fees or medical expenses, and is just desperate for help. Once there is a plan and an instalment they can manage, they can move forward financially again.

That shift from worry to confidence is the best part of the job.

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The situation people actually face

5. What are some of the most common reasons people approach AutoFin Assist for help?

The most common reasons are instalments that have become too heavy, a balloon payment coming due, and an unexpected expense such as a medical bill or job loss. Others want to combine several debts into one payment or get a better deal on their existing vehicle loan.

6. Vehicle refinancing: What circumstances might make someone consider refinancing their existing vehicle loan?

Refinancing is worth considering when your instalment no longer fits your budget, your income has changed, or you could now qualify for a lower interest rate. It can also release cash tied up in your vehicle without selling it, and it is the most beneficial option for getting much-needed cash within three to four days. Always compare the total cost over the full term, not just the instalment.

7. Balloon payments can be confusing for many vehicle owners. In simple terms, what is it and what should buyers understand before agreeing to one?

A balloon payment is a lump sum due at the end of your finance term. It keeps monthly instalments lower because part of the loan is put off until later. Know the exact amount, and remember that vehicles lose value, so your car may be worth less than the balloon when it falls due.

If you are nearing the end and worried about settling it, talk to us ideally six months ahead. We can arrange a cash loan that settles the balloon with the bank, so you keep your vehicle.

8. Asset-based finance: Many people don’t realise that an asset they already own may potentially help them access finance. How does this work, and what should someone understand before using an asset as security?

You borrow against an asset you already own, such as your vehicle, and keep using it while you repay. The amount depends on your equity in it. The asset is the security: if you cannot repay, the lender can repossess and sell it, and you may still owe any shortfall, so borrow only what you are confident you can repay. Property works the same way through our sister company, Bondfin Assist.

9. AutoFin Assist also offers debt consolidation. When might consolidation be something worth discussing, and what should people consider before taking on a new loan to consolidate debt?

Consolidation is worth discussing when you are juggling several debts with different due dates and rates, and the combined repayments are a strain. One loan replaces them with a single monthly payment, often at a lower rate. Check the total you will repay over the new term, because a longer term can cost more overall, and avoid using the cleared accounts again.

10. What happens when someone is already struggling with their monthly vehicle repayments? At what point should they seek help rather than simply hoping the situation improves?

As soon as you suspect you will miss a payment, not after. Warning signs include little money left after your instalments, using credit for everyday essentials, and paying one debt with another. Missed payments damage your credit record and can lead to repossession, and every month of delay narrows your options. Early action often lets us find a more affordable arrangement while you still have your car.

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Responsible borrowing

11. What advice would you give someone who is tempted to focus only on the monthly repayment when choosing vehicle finance?

A low instalment can hide a long term or a large balloon payment. Always ask for the total you will pay over the full agreement, plus the interest rate, terms and fees. A longer term lowers the instalment but increases the interest, a bigger deposit reduces both the amount borrowed and the interest, and a balloon only defers part of the cost. Two deals with similar instalments can differ by thousands of rands.

12. What can consumers do to improve their chances of qualifying for finance?

Pay your accounts on time, keep credit card balances low and clear any defaults you can. Check your credit report for errors, keep proof of steady income (payslips or bank statements) ready, avoid applying to several lenders at once and, where you can, put down a deposit.

13. What is one financial mistake you see people making repeatedly when it comes to their vehicles?

Borrowing the maximum a lender will approve. Approval is not the same as affordability. Fuel, insurance, services and tyres need to fit your budget too, along with the occasional emergency. Choose a repayment you can sustain comfortably, not just one you can qualify for.

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Looking ahead

14. How is the vehicle-finance landscape changing, and what do you think consumers should be paying attention to over the next year?

Consumers should watch interest rates, because variable-rate agreements move with the prime rate, along with the full cost of keeping a vehicle on the road. Lenders also look closely at affordability, so a clear budget and a clean credit record matter more than ever.

**15. Are there particular trends you are seeing among clients, for example people holding onto vehicles for longer, refinancing existing loans or looking for ways to free up monthly cash flow? **

Many clients are looking for ways to free up monthly cash flow, whether by refinancing, extending a term or consolidating debts. People who keep their vehicles longer are also asking how to unlock the value in a car they already own. Consumers are destroying their credit profiles by taking out too many micro loans.

16. What is AutoFin Assist’s vision for the next few years?

To be our clients’ preferred auto finance partner, with competitive rates, clear advice and solutions built around each person’s situation. We also want to keep helping people hold on to their vehicles through difficult times.

Sidebar: The AutoFin Assist money checklist

Five things to check before you sign a vehicle-finance agreement:

1. Total cost in rand:

   Ask for the full amount you will repay, not just the instalment

2. Interest rate:

   Is it fixed or variable? A variable rate moves with the prime rate, so your instalments can change.

3. Term and balloon:

   A longer term lowers the instalment but costs more in interest. If there is a balloon, know the amount and how you will pay it.

4. Fees and extra charges:

   Get every cost in writing.

5. Missed payments:

   Know the consequences and who to contact early.

Also read:

Chinese car takeover: Audi sales fall 76% in South Africa over 12 years

**Picture: **Supplied

This article was produced in partnership with AutoFin Assist

The post Get back on track with AutoFin Assist: Your financial freedom starts here appeared first on Cape Town ETC.