Vehicle Finance Calculator South Africa – Work Out Your Car Payments Easily
Buying a car in South Africa can be exciting, but understanding the monthly repayments is just as important as choosing the right vehicle. That’s where a Vehicle Finance Calculator comes in. With just a few details, you can estimate your repayments, interest, and total cost of ownership before signing any paperwork.
🚗 Vehicle Finance Calculator
Estimate monthly payments, interest vs principal, amortisation schedule (monthly/yearly) and total cost. Includes PDF / Image export.
Results & Charts
Toggle series to compare
Monthly payment
R 0
Excluding initiation & admin fees
Total interest over term
R 0
Interest cost only
Amortisation schedule
View payments broken into principal vs interest. Choose monthly or yearly.
Quick summary
Loan principal (amount financed)
R 0
Total cost (payments + fees): R 0
How the numbers are calculated (detailed formulas)
Step 1 — Amount financed (principal)
Principal = Purchase price - Deposit - Trade-in + Initiation fee + Admin fee.
Step 2 — Monthly interest rate
APR (annual nominal) given as percentage. Monthly rate (decimal) = (1 + APR/100)^(1/12) - 1.
For small APR you can approximate monthly rate ≈ APR/100 / 12, but using the compounding formula is more accurate when APR is large.
Step 3 — Payment formula (for fixed-rate instalments with possible balloon)
Let P = principal, r = monthly rate, n = total months, B = balloon at end (residual). The fixed monthly payment A satisfies:
Step 4 — Amortisation
Each payment: interest portion = outstanding_balance * r. Principal portion = A - interest. New balance = outstanding_balance - principal_portion. Repeat monthly.
Step 5 — Totals
Total paid = A * n + initiation_fee + admin_fee. Total interest = Total paid - P (ignoring fees) - B (if any) + B discounted? For clarity we compute total interest as sum of interest portions across schedule.
Principal = Purchase price - Deposit - Trade-in + Initiation fee + Admin fee.
Step 2 — Monthly interest rate
APR (annual nominal) given as percentage. Monthly rate (decimal) = (1 + APR/100)^(1/12) - 1.
For small APR you can approximate monthly rate ≈ APR/100 / 12, but using the compounding formula is more accurate when APR is large.
Step 3 — Payment formula (for fixed-rate instalments with possible balloon)
Let P = principal, r = monthly rate, n = total months, B = balloon at end (residual). The fixed monthly payment A satisfies:
A = (P - B / (1+r)^n) * r / (1 - (1+r)^-n)This reduces to the standard annuity formula when B = 0:
A = P * r / (1 - (1+r)^-n)
Step 4 — Amortisation
Each payment: interest portion = outstanding_balance * r. Principal portion = A - interest. New balance = outstanding_balance - principal_portion. Repeat monthly.
Step 5 — Totals
Total paid = A * n + initiation_fee + admin_fee. Total interest = Total paid - P (ignoring fees) - B (if any) + B discounted? For clarity we compute total interest as sum of interest portions across schedule.
Hints: try small extra monthly repayments to see impact on interest. Use the "Advanced" mode to adjust admin and initiation fees and balloon amount.
Page Created: September 26, 2025 at 06:47
Last Updated: September 27, 2025 at 00:22