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Q:What is refinance or refinancing?

Refinance or Refinancing refers to the replacement of an existing finance agreement with another or new finance agreement under different terms.

Q:How does car refinancing work?

Car refinancing entitles a client to enter into a new finance agreement at a better term with more favourable conditions than that of the previous agreement.

Q:What happens to my old finance agreement?

ReFin Financial Services will settle the old finance agreement and you the client will finance the settlement amount in the new finance agreement.

Q:Will you be loading any additional profit to my new agreement?

No, ReFin Financial Services only charges an administration fee per transaction and subsequently a large portion of which is then refundable to the client.

Q:What portion is refundable on the admin fee?

Every vehicle that is refinanced needs to undergo a 101 inspection and a roadworthy through an authorised test centre. This cost is refunded to the client.

Q:ow long does the process take?

ReFin Financial Services generally has a turnaround time of 24 hours, all depending on client document submission and validation thereof.

Q:What documents will I need?

South African Id document, South African drivers license, Proof of address not older than 3 months, Proof of income and a latest settlement letter from your current finance house.

Q:What other finance options does ReFin offer?

We offer finance for any new or used vehicle, balloon payment refinancing and private to private financing.

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