Designed to assist uninsured drivers, the Fender Bender Finance programme is working with the Collision Repair Association (CRA) exclusively and is receiving a steadily growing number of applications for finance credit as this new service becomes more widely known and accepted in the South African market. This finance option can also be to pay for an unaffordable excess or even a repudiated claim.
With the ever-growing number of uninsured drivers on the roads – an estimation of around 80% of privately-owned vehicles – this is a great opportunity to keep repair work in the well trained and equipped sector of the collision repair industry. As the payment is third party and specifically for repair, it ensures that the money is only used for accident damage restoration.
An application can be made by visiting a body shop who is part of the Fender Bender Finance programme, obtaining a quotation and similarly applying for finance at the shop through the portal provided. Each shop is registered with Nedbank as a merchant and are able to help the client with their application. A payment option that suits the client’s pocket can be reached and neither the client nor the body shop has to be a Nedbank account holder. Loans are available between R2000 and R300 000, as well as the time period of the loan – 6 to 72 months.
Fender Bender Finance have spent the past year searching for the best finance partner in this new endeavour. They believe they have found this with Nedbank and their top-notch online platforms, as well as their recent QR code development, which will be introduced into this plan later this year. They were one of the few financial companies to be able to offer third party payments. This is very important as the money loaned needs to be spent on accredited vehicle repair to assure safety and consumer confidence in the restoration from the unfortunate incident and support compliant operators in the collision repair industry. It also ensures payment for qualified service to the body shop is guaranteed as the loan is between Nedbank and the client. All the body shop needs to do is the best job as quoted for, for a successful result.
The local car parc is also mostly older vehicles that are out of warranty. These owners would like to see their cars restored to as good as new with safety critical items in fine working order.
There are body shops already signed up as part of the pilot programme in Gauteng, KZN and Cape Town. The Fender Bender Finance marketing campaign is also underway to establish the brand and create awareness in the public domain.
For more information you can take a look at www.fenderbenderfinance.co.za or keep an eye out on Facebook, Twitter and Instagram.