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Finance Options
How personal vehicle finance can put you on the right road.
Go-Green now with wheels!
Finance your vehicle with Nedbank Namibia for N$100 000 or more and we will make a donation to the Go Green conservation fund on your behalf.
- Choose from instalment sale, lease or other available options, tailored to suit your needs
- Competitive rates, flexible options, conserving our heritage
Ask your personal banker or relationship manager for details.
Nedbank offers you three possible routes to acquiring the vehicle you want:
Instalment sale
Minimum deposits and maximum periods are determined by factors such as: whether or not the vehicle is to be used in the production of income, ie for business purposes; the nature and age of the vehicle; and of course your own financial standing.
The balance together with VAT is repaid in equal instalments over the agreed period. Legal ownership will automatically be passed to you on payment of the final instalment.
If the vehicle is used for business purposes, you are entitled to include a claim against your income tax for wear and tear, as well as operating costs and finance charges paid. Your branch can provide more details.
Leasing
For vehicles used in the production of income, ie for business purposes, you may elect a lease option. Here, the VAT is included in the principal debt, the sum of which is repaid over the agreed term of the facility. Lease, rentals and operating costs are deductible for income tax purposes. Your branch can provide more details.
At the end of a lease agreement, you will be given various options which include selling, returning or acquiring the vehicle or entering into a secondary agreement with the bank to delay the first three options.
Rental
This is similar to leasing, but VAT is raised separately, based on the monthly rental instead of being included in the principal debt.
Finance insurance can minimise your risk
Your vehicle should be insured fully and comprehensively while on lease, rental or instalment sale. Nedbank provides this service at competitive scheme rates.
You may retain this insurance once ownership has been passed to you – and you could also, if you wish, invest in a life policy to settle the balance of your contract in the event of your death, total disablement, or diagnosis of certain categories of serious illness or disease.
Professionalism and expertise at your service
Experience and know-how have enabled Nedbank to be an innovator in corporate finance. Now those same skills are available to you as an individual when acquiring a vehicle.
If you're a company employee with a specific monthly car allowance, Nedbank is ideally placed to help you use the available funds to your best advantage, by offering you professional assistance in selecting the right financing option to maximise tax relief against your car allowance.
When you have the opportunity to acquire the right vehicle for you, come to Nedbank. We'll give your proposal the same priority as you do – and make sure that the deal we shape for you is the best you can get anywhere.
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