+27 87 350 7960     enquiries@mycarloan.co.za

Frequently Asked Questions

Click on the question to reveal the answer

How does this work?
  1. Submit your loan application via our website.
  2. We send your application to all the major banks for provisional approval. Your information is encrypted to protect your privacy.
  3. If you are provisionally approved for a loan we will require the following information from you to conclude the finance deal:
    • A full detailed description of the vehicle you wish to purchase (Make, Model, Year, Mileage, Price) or just send us a picture of the licence disc and we can pull the car details from that.
    • A quote from the dealer you have been negotiating with. (If you haven’t found the right car we can help you with some options)
    • A copy of your last 3 months payslips.
    • A copy of your last 3 months bank statements reflecting your salary deposits.
    • A copy of your identity documents and driver’s license. (front and back to enable a security scan of the barcode).
    • Proof of your address, younger than 3 months.
  4. Once this information has been verified by the bank your loan will be made available.
  5. Take your bank approval documents and collect your dream car!
  6. We pay the private seller or dealer on your behalf.
  7. A member of our friendly team will be more than happy to guide you through every stage of the car buying process.
  8. Apply Now!
I’m blacklisted or under debt review. Can I apply for vehicle finance through mycarloan?

No, our lenders will not accept your application. You will need to clear your outstanding debt before you apply. You can call Experian Consumer Services on 0861 10 56 65 to get your free credit report.

What are the minimum requirements I need to qualify for finance?

You will need the following:

  • South African ID
  • Drivers Licence
  • Stable income over R15,000 per month
  • Clear credit history
What documents will I need for the bank to approve my finance?
  • Clear copy of identity document
  • Clear copy of drivers licence
  • Last 3 months payslips
  • Last 3 months stamped bank statements
  • Latest proof of residence (not older than 3 months)
It's been more than 30 minutes and I have not received an email response to my application. Who can I talk to?

Please send us an email: enquiries@mycarloan.co.za or call +27 87 350 7960 and we will investigate.

My application has been declined, what now?

Please call us on +27 87 350 7960 with your reference number and one of our consultants will be more than happy to see if we can help you.

Is my information safe on your website?

This site is protected by an SSL Certificate which is a bit of code on our web server that provides security for online communications. When a web browser contacts our secured website, the SSL certificate enables an encrypted connection. It’s kind of like sealing a letter in an envelope before sending it through the mail. So all online interactions on this site will be private and secure.

I have found a car I want to buy privately on Gumtree/Cars.co.za/Autotrader. Can I apply for vehicle finance through mycarloan?

Of course! Apply online with us and our team will contact the private seller on your behalf to get all the required vehicle details. We will also do some complimentary checks to ensure that the car is roadworthy, that it has not been written off by an insurance company and that the vehicle model and year are correct.

I’m selling a car privately and I’d like to be sure that I’ll get paid by the buyer. Can I refer the buyer to mycarloan to obtain finance?

Yes you can. If you have owned your car for more than 6 months, the car is less than 10 years old, has not been written off by an insurance company and has an updated roadworthy certificate, we can finance your private buyer (assuming they have a good credit profile). Once we have obtained payment of the loan from the bank we will notify you. You can release the car to the buyer safe in the knowledge that the money is on its way to you!

I want to finance a motorbike, what are the requirements?

The minimum requirements are:

  • South African ID
  • Motorbike Licence
  • Stable income over R15,000 per month
  • Clear credit history
  • The motorbike must not be older than 8 years

Mycarloan.co.za is an online initiative of Leyton Financial Services (Pty) Ltd trading as F&I Solutions. F&I Solutions is an authorised financial services provider and has been providing dealer F&I services since 2008. The company registration number for F&I Solutions is 2008/003965/07.
F&I Solutions is a member of the Independent Dealer Association and can be found in the Find a Member section of their website, www.ida.co.za.

Address: 179 Dr Pixley KaSeme (West) Street, Durban| Phone: +27 87 350 7960| Fax: 086 710 2082|Email: enquiries@mycarloan.co.za