Car finance calculator

A R350,000 car with a R35,000 deposit over 72 months at 12.75% is R6,282 a month, with R137,294 of interest in total.

The calculator takes the car price less your deposit, then works out equal monthly payments over the term at your interest rate. If you choose a balloon, that amount stays owing until the end, and each instalment also pays the interest on it.

A balloon is a lump sum you still owe at the end of the term. It lowers your monthly instalment, but you pay more interest overall, and you need to settle or refinance it when the term ends.

It starts at the prime lending rate plus 2 percentage points, as an illustration. Your bank sets your actual rate based on your credit profile and the car.

No. Initiation fees, monthly service fees and insurance are extra. To see whether the whole cost of a car fits your month, use the FinWise car affordability calculator.