Saving on Your Instalment

Your contractual instalment stays the same, but a participant who meets the plan's requirements in full may receive an ex gratia cash-back of up to R3 000 a month, which effectively reduces what the instalment costs you. Unlike a once-off discount, that potential value recurs month after month, subject to the plan's terms and Car4Less's determination each month. The funding provision behind the plan is guaranteed, but the cash-back itself is conditional on your participation and discretionary, so it is never automatic.

No. Your finance agreement and monthly debit order stay exactly as agreed with the bank. Any ex gratia cash-back under the Payment Saver Plan is paid separately, which you can put towards the instalment or anything else. That is why the site talks about an effective instalment rather than a reduced one.

No. It is a maximum, not an automatic payment. It is an ex gratia payment of up to R3 000 a month that Car4Less may make to a participant who has fully met all the participation requirements, subject to the plan's terms and Car4Less's final determination. No vehicle sale has to be credited to you, but posting alone earns nothing. The funding provision is guaranteed by Car4Less's performance guarantee, a contingency policy it holds with its underwriters; you pay no premium, hold no policy and have no claim under it. The cash-back itself is conditional and discretionary, never an income you can count on in advance.

A larger deposit, a shorter term with a lower total interest cost, a better interest rate from a stronger credit profile, and choosing a variant with lower insurance and fuel costs so that the whole monthly picture is cheaper. The finance calculator on the site lets you test each of these against any car in the showroom.