Personal Loan for Vehicle Expenses

From breakdowns to new tyres or buying your next vehicle, a loan can help cover your car expenses.

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Our Products /   Loans /   Personal Loan for Vehicle Expenses

The smart Benefits of an RCS Personal Loan for your Vehicle Expenses

 

Your vehicle helps keep life moving, from getting to work, dropping the kids at school or the next road trip. But when it breaks down, or surprise costs hit, like repairs, servicing, or new tyres, an RCS loan can help you manage the costs without putting your plans on hold.

Whether you're keeping your current vehicle on the road or putting down a deposit on your next one, access the funds you need and pay them back in monthly instalments.

Features

Benefits of an RCS Personal Loan

See if you qualify a Loan

* Terms and Conditions apply.

Calculate Monthly Instalments

Calculate Your Car Expense Repayments

Unexpected vehicle costs can add up quickly. Before you apply, use our loan repayment calculator to check what your monthly payments will be. Adjust the loan amount and term to find a repayment option that suits your budget.

R

10k

300k

months

12

18

24

36

48

60

Estimated Monthly Repayment

R

* Terms and Conditions apply.

Your final loan amount and term will be confirmed once you complete the full application.

See if you qualify for a Loan

Financing Your Car Costs - an Example

Sbu takes a loan of R10 000 and uses it to pay for vehicle-related expenses, from car repairs to the deposit for the purchase of a vehicle. If he chooses to repay it over 24 months, the instalments could look like this:

For a loan of R10 000 over 24 months with an annual interest rate, a once-off initiation fee of R1 207 and a monthly service fee of R69, the monthly instalment would be R711.90, with a total amount payable of R17 085.68.

Note: Our interest rate will never exceed the maximum as prescribed by the NCA. Fees are subject to change and will be affected by the customer’s risk profile.

How to Apply

Get Your Loan in a Few Easy Steps

See if you qualify

You can apply if you

  • Are 18 years and older
  • Have a South African ID or driver’s license
  • Have a South African bank account
  • Are employed and earn R3,000 or more per month
  • Can provide proof of income documentation

We’ll need the following documents from you

  • A South African ID or driver's License
  • Latest pay slip or bank statements

Our Application Process

  1. Start your application process here

    Answer a few simple questions and and you’ll get a response within seconds. If you are provisionally approved, you can move on to Step 2.

  2. Next, compete the full application

    Complete an easy application and submit your proof of income documents online.

  3. Access your cash loan

    Once approved, your loan will be deposited into your bank account within 30 minutes.

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Get Your Free Credit Score in Minutes

Checking your credit score is free, safe and won't affect your credit rating.

1. Register using your South African ID number

2. View your personalised credit score and credit report dashboard

3. Access tips and recommendations to help improve your credit profile

RCS, in partnership with Welltec Group, offers free access to personalised credit reports and financial wellness tools.

Free Credit Score Check

Want To Know More?

What can I use my loan for?

A personal loan can help cover a range of planned or unexpected expenses, from home improvements and medical bills to emergency costs or study-related needs. You can use a personal loan for:

  • Home Improvements: Repairs, upgrades or renovation costs.
  • Emergencies: Financial support for those urgent expenses that come up.
  • Studies: School or university fees, books or study equipment.
  • Weddings: Expenses such as venue hire, photography, entertainment or other celebration costs.
  • Vehicle Expenses: Unexpected costs when your car breaks down or to keep up with planned, essential. maintenance.

When applying, use the RCS Loan Repayment Calculator to choose an amount and repayment term that fits comfortably within your budget, align it to a meaningful purpose, and make sure you’re borrowing because it makes financial sense, not simply because you can. First, see if you qualify.

What's the difference between a personal loan vs car finance in South Africa?

Car finance is usually for buying a specific vehicle, and the vehicle acts as security for the agreement. A Personal Loan is more flexible and can be used for a vehicle purchase, repairs, maintenance or other car-related costs. The right option depends on your needs, budget and financial situation. 

What is the smartest way to pay for a car?

If you have the funds, cash is often the most cost-effective way to buy a car because you avoid interest charges and monthly repayments. However, if paying cash isn't an option, a Personal Loan or vehicle finance can help you to manage the cost over time. Make sure that you research your options and choose what fits your budget and circumstances.

Can I get financing for a vehicle if I am blacklisted?

If you are blacklisted or have a poor credit record, qualifying for vehicle finance or credit can be more difficult. Lenders, like RCS, assess affordability and credit history, which means that approval is not guaranteed. Checking your credit report and score before you apply could help you see where you stand. 

Can you use a Personal Loan as a car loan?

Yes, if you need extra funds to buy a car, a Personal Loan may be an option. However, before applying, make sure you understand the total cost of the vehicle, check your monthly budget and think about whether you can afford the repayments. The right option depends on your financial circumstances and borrowing needs.

See if you qualify How to Apply Loan Terminology Terms and Conditions

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