StarInsights eKomi | An Assessment of the Top Vehicle Financing Institutions in South Africa

StarInsights Vehicle Financing

An Assessment of the Top Vehicle Financing Institutions in South Africa

Whether you’re looking for a personal, short term or long-term car or vehicle finance deal in SA, finding the best finance institutions is not an easy task. You need to check out the market and ensure that your contract is watertight before you sign on the dotted line. This StarInsights report is based on the examination of vehicle finance companies within SA, to help you evaluate the best companies for a car loan, understand the cost, benefits, and implications.

Industry Overview Vehicle Finance

Vehicle finance institutions in SA are categorized into three groups: 

  1. Banks, 
  2. General Finance Companies 
  3. Car Dealers. 

Each group has its own methods of granting credit to intending vehicle buyers; more so, each group targets a specific market segment. As such, it is important to understand the differences between these institutions as there may be a deviation in their levels of service delivery, incentives, and benefits offered.

With that in mind, the common underlying challenge in choosing an ideal firm, is that most of them offer attractive discounts, and making use of the services offered by them may not be a good idea after all. Some people compare the scores of financing companies and evaluate the different offerings on interest rates, monthly payments, and other perks such as vehicle warranties.

However, in today’s economy, market research is the yardstick for determining how consumers make decisions. In the same sense, online research is key when deciding which auto loan is ideal. Although, an online car finance calculator can help you determine which type of financing is suitable for you: reviews of auto loan lenders can help you narrow down your list of potential companies. 

The best way to choose a car loan company starts by looking at previous cases through online reviews and ratings. Google reviews provide insights into the reputation and reliability of these financial institutions. Ratings and reviews may indicate improper behaviour of certain finance providers. If you have seen a pattern of customer complaints, it’s probably an indication that you need to work with another company.

Therefore, for analysis purposes, the data used was obtained from Google My Business Profiles, and it is purely based on official Google ratings and reviews as of the 11th of October 2022. The primary objective is to gauge customer service based on what clients say about Vehicle Financing Institutions in SA. That said, let’s delve into the statistics.

Most reviewed Vehicle Financing Institutions in South Africa

Financial Institution

Number of Reviews

Old Mutual vehicle finance 438
Hippo vehicle finance 387
Absa Vehicle & Asset Finance Trade Centre 250
Standard Bank vehicle finance 182
WesBank 139
Motorlease Private Vehicle Finance 122
MFC, a division of Nedbank 91
iMasFinance 28
Al Baraka Bank 19
Toyota Financial Services 19
The Car Finance Company 18

Based on the findings illustrated in the table above, Old Mutual vehicle finance is the most reviewed institution and comes up on top with 438 reviews. Hippo vehicle finance is in second place with 387 reviews and is followed by Absa Vehicle & Asset Finance Trade Centre with 250 reviews. These vehicle financial institutions have made considerable progress in delivering a better experience for their clients. They put a strong emphasis on building meaningful relationships with their customers.

On the other hand, ratings are also very important to a company’s importance and improve customer satisfaction and sales in the long run. Therefore, we completed the StarInsights review by creating a list of the ten highest rated auto financing institutions in SA.


Top-rated Vehicle Financing Institutions in South Africa

Financial Institution


Motorlease Private Vehicle Finance 4.8
Hippo vehicle finance 4.7
Wingfield Private Auto Finance 4.3
The Car Finance Company 4.3
Old Mutual vehicle finance 4.2
Carfin Vehicle Finance Solutions 3.9
Standard Bank vehicle finance 3.7
MAS Financial Services 3.7
Absa Vehicle & Asset Finance Trade Centre 3.5
Al Baraka Bank 3.5
Mercantile Bank vehicle finance 2.9

The foremost auto financing Institutions in SA is Motorlease Private Vehicle Finance at a high rating of

4.8 stars, followed closely by Hippo vehicle finance with a 4.7 star-rating. Third position is a tie between Wingfield Private Auto Finance and The Car Finance Company both with a stable 4.3 star-rating, the only difference lies in the number of reviews.

We extol the CEOs of the Auto financial institutions in SA for applying great methods to attract more clients and rendering efficient service to infer good evaluations and ratings. With no doubt, reviews and ratings drive revenue-generating activity and inspire more positive reviews. This starts a “virtuous cycle” where the popularity of highly rated websites continues to skyrocket. Bad reviews, on the other hand, can start a downward spiral. The sudden disappearance of a site from the top search results can suddenly destroy your customer base.

Most importantly, financial services are subject to reviews and ratings by business clients, and although SA vehicle financing sector seem to be performing slightly well in that area, there is still significant room for improvement. eKomi’s concept is to improve upon these encouraging statistics, helping both brand and business to achieve exponential growth through an increase in positive reviews, which in turn should garner organic traffic and make more customers patronize vehicle financial institutions as the best option to own a vehicle(s).

We will conduct another assessment in the next three months and urge SA vehicle financing companies to collaborate with review agencies like eKomi, to observe customer relations, produce targeted surveys, and deliver positive reviews using techniques aimed at improving excellence of service.

Be sure to check out eKomi’s blog in three months to read our follow-up assessment on which vehicle financing institutions will be the best and most rated in SA.

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