Motor Finance Corporation
Nedbank (MFC) unacceptably high interest rate

I am 35 and have a clean credit record. I have never missed a payment for any financial institution. I recently applied for Finance at NEDBANK - MFC and the lowest interest rate they could offer me is 11.65%. I do not understand this as I am permanently employed for more than 5 years, my deposit on the vehicle is almost 20% and also the second hand vehicle is in immaculate condition. I do not really understand the high risk here. One would assume that I am the perfect profile for a good client. This is unacceptable, why can't I be offered a lower interest rate?

Company: Motor Finance Corporation
Country: South Africa
City: Not sure / telephonically

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