Each month
A stretch. R8,575 a month, 19.1% of take-home
R1,825 over the 15% comfortable line, and R425 under the 20% ceiling.
Can I afford this car?
The debit order is only part of the month. Add insurance, fuel, maintenance, and the other car costs, then see whether the total sits inside 15% of take-home, stretches toward 20%, or goes past it.
The loan
10% of the cash price.
Illustrative vehicle-finance rate. September 2026 prime is 10.75%.
Amount financed
R252,000
Bank instalment
R5,025
No balloon or residual. Open advanced options if the quote leaves an amount due at the end.
Every month besides the loan
The result
A stretch
A stretch. R8,575 a month, 19.1% of take-home
R1,825 over the 15% comfortable line, and R425 under the 20% ceiling. The comfortable line is 15% of take-home. The ceiling is 20%. Both use the full monthly car cost, not the instalment on its own.
Loan instalment
R5,025
Insurance
R850
Fuel
R2,000
Maintenance
R450
Other car costs
R250
Total each month
R8,575
Interest over 72 months
R109,835
All-in cost over the term
R645,435
All-in is the deposit, what you repay the bank (including a balloon), and the running costs across the term.
About R188,462 would sit on the 15% comfortable line, keeping this deposit, rate, term, balloon, and these running costs.
About R301,287 would sit on the 20% ceiling.
Same car, other terms
Price, deposit, rate, balloon, and running costs stay put. Only the term changes. A longer term lowers the debit order and raises the interest.
| Term | Instalment | All-in | Share | Interest | Result |
|---|---|---|---|---|---|
| 48 mo | R6,729 | R10,279 | 22.8% | R71,007 | Not on these numbers |
| 54 mo | R6,157 | R9,707 | 21.6% | R80,468 | Not on these numbers |
| 60 mo | R5,702 | R9,252 | 20.6% | R90,095 | Not on these numbers |
| 72 mo | R5,025 | R8,575 | 19.1% | R109,835 | A stretch |
Before you decide
- Keep an emergency fund you can reach without selling the car. Then clear expensive debt such as credit cards, store accounts, and personal loans before taking on a new instalment. The debt payoff calculator compares those balances.
- A prime-linked car loan moves when prime moves, and fuel often moves with it. The rate hike calculator shows the instalment change. The September 2026 hike note is the worked example behind the default prime rate here.
- Rent or a bond still has to fit in the same month. The rent vs buy calculator is the housing question. The salary calculator turns the whole lifestyle into a gross salary after PAYE.
- The guide Can I afford this car? walks through the same 15% and 20% lines, including why a balloon makes the debit order look kinder than the deal is.
FinWise
See the car inside the rest of the month
FinWise tracks the instalment, the insurance debit, and what you actually spend on fuel, in rands. The calculator is a sketch. Your transactions are the record.
Explore related resources
Can I afford this car?
Why the instalment is the wrong number to negotiate on, and what a 72-month term does to the interest.
Interest rate hike calculator
See how a prime move changes the monthly car instalment.
Debt payoff calculator
If a credit card or personal loan costs more than the car, start there.
Salary you actually need
Turn the whole month, including this car, into a gross salary after PAYE.
Assumptions
- Default illustration: take-home R45,000, cash price R280,000, deposit R28,000 (10%), 72 months, 12.75% a year, insurance R850, fuel R2,000, maintenance R450, other car costs R250, and no balloon.
- Yes means the full monthly car cost is at or under 15% of take-home. A stretch is over 15% and at or under 20%. Above 20% is not on these numbers. That is a household rule of thumb, not a bank affordability score and not a National Credit Act calculation.
- The rate is nominal annual, compounded monthly (annual rate divided by 12), the usual way to quote South African vehicle finance. September 2026 prime in the worked examples on this site is 10.75%. The default 12.75% is that prime plus 2 percentage points. It is not a quote. A linked rate will move when prime moves.
- A balloon lowers the instalment and stays due at the end. Monthly interest on the balloon is included in the bank instalment, and the verdict also sets the balloon aside across the term. Initiation fees, monthly admin fees, and VAT on those fees are not itemised. Put them in the price or in other car costs.
- This is a planning aid, not financial, credit, tax, or insurance advice. Replace the insurance, fuel, and maintenance figures with quotes before you sign.
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