Getting cash out of your car

Do you know that it is cheaper to borrow money against your car than taking a personal loan? Interest rate on your car is between 9 and 12% whereas your personal loan is about 29%. In this radio interview, Phumelele discusses the following key points;

  1. Why it is important to get a quote from more than one car finance company
  2. How you can use this loan against your car to settle your expensive personal loan
  3. Could this help you to deal with the balloon payment on your car?


For more details, listen to the podcast


ThuthukaSA can also help you to reduce the monthly installments  that you pay on your car loan. The global pandemic has resulted in job losses and salary cuts for many people and if you find yourself struggling to cope with your car loan repayments, we can help you to reduce the monthly installments. We take your application to all the banks and you will therefore get the cheapest rate of interest possible. Interest rate on car loans range between 9 and 12,5% however will vary case to case.


The fee includes the following:

  • Drawing of the Experian credit report, review and feedback
  • 1 hour consultation to give any info that you might require
  • Taking your application to the banks and assisting you in getting the best possible rates, subject to the banks approval

Please note that before we can advise you, you will have to formally appoint ThuthukaSA as your nominated financial advisor by signing a Letter of Authority which will be emailed to you after you check out this service. Note that it is a requirement of the Financial Advisory and Intermediary Services Act that you formally appoint us.