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Vehicle Finance Calculator

Our vehicle finance calculator below can help you compare loan options among South African lenders by giving you an estimate of your likely monthly repayment so that you can plan better for your finances.

All you have to do it input the loan amount, adjust the loan term then click calculate. You will then see how each lender’s option will affect your overall budget. This way you can make a better financial plan for expenditure.

Calculate repayments

MFC Vehicle Finance

MFC
12 months
to 96 months
R10,000
to R300,000
10.00%
APR
Whether you're buying a through an MFC approved dealer or privately, MFC can assist; for cars up to 10 years old or in some cases classic cars. Apply through Fincheck to be matched with the right vehicle finance provide for you.

RCS Vehicle Finance

RCS
12 months
to 72 months
R10,000
to R550,000
10.00%
APR
RCS are second-hand car finance specialists. Interest rates from prime* over 72 months. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Fincheck Vehicle Finance Broker

Fincheck
12 months
to 72 months
R10,000
to R250,000
10.25%
APR
Go through Fincheck's online application to get matched with loan provider that's most suitable for you.

MFC Vehicle Finance

MFC
12 months
to 96 months
R10,000
to R300,000
10.00%
APR
Whether you're buying a through an MFC approved dealer or privately, MFC can assist; for cars up to 10 years old or in some cases classic cars. Apply through Fincheck to be matched with the right vehicle finance provide for you.

RCS Vehicle Finance

RCS
12 months
to 72 months
R10,000
to R550,000
10.00%
APR
RCS are second-hand car finance specialists. Interest rates from prime* over 72 months. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Standard Bank -Financial lease

Standard Bank of South Africa
12 months
to 84 months
R20,000
to R200,000
10.25%
APR
Lease the vehicle you want, over an agreed period, with the option of owning it at the end of your financial lease. Apply through Fincheck to be matched with the right vehicle finance provide for you.

Fincheck Vehicle Finance Broker

Fincheck
12 months
to 72 months
R10,000
to R250,000
10.25%
APR
Go through Fincheck's online application to get matched with loan provider that's most suitable for you.

Wesbank Vehicle Finance

Wesbank
12 months
to 96 months
R10,000
to R300,000
13.00%
APR
Wesbank provide a range of value-added services that make it that much easier to own, drive and personalise your vehicle. Apply through Fincheck to be matched with the right vehicle finance provide for you.
What Dealership Finance offers: A tailor-made vehicle finance solution. Choice of fixed or variable rate. A reasonable balloon payment or residual value to match your agreement choice. What this allows you to do: Buy a vehicle from a dealership. Buy a vehicle up to 10 years old. Finance a vehicle for at least R30 000 after deposit.
Experience the joy of owning your car while you are paying it off with our flexible instalment sale agreement. Own the vehicle while you are paying it off. Reduce your monthly payments by choosing a balloon payment or by paying a deposit. Choose a monthly repayment from 24 - 72 months. Fixed or variable interest rates available
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CompareLoans.co.za provides factual information in relation to financial products. While CompareLoans.co.za attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on CompareLoans.co.za is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with CompareLoans.co.za. CompareLoans.co.za recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see CompareLoans.co.za's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

Vehicle finance calculator for best car deals

Buying a set of wheels can be a difficult or an easy task. If you are good at saving money and you have a great monthly budget, you simply find a good dealer with reasonable purchase prices.

If however, you need a car loan, there are several things to think about. While buying a new vehicle is exciting, you have to make the best decision for yourself in the long term.

You might decide to borrow money directly from a finance company, bank, or credit union. In the terms and conditions, you will agree to pay back the money, plus other fees, over some time. Our vehicle finance calculator is here to help you make the best decision. CompareLoans only showcases registered credit providers, so you can be confident you’ll be dealing with responsible lenders.

Disclaimer: The results provided by our car finance calculator involves payment estimates only. It would be best if you did not rely solely on the results when taking a car loan. It is always best to seek advice from a qualified person before applying for a car loan.

How can a car loan calculator help you?

The auto loan calculator on this page helps you calculate the monthly payments you have to make after taking a car loan. Firstly, you start by choosing the price of the automoible that you are interested in buying. You can then use the sliders to choose the time you need to pay back the credit. You’ll then see monthly repayments as well as the interest rate in the table below the calculator.

What you should know before taking out a car loan

When you qualify for a car loan, it is very easy to receive the money you need. Nevertheless, a car loan differs from a personal loan because it is only used to purchase a ride.

The car that you buy is used as a backup for the debt. What this means is, if you fail to make the repayments, the financial services provider can take your ride. Another thing is, the car loan gets repaid in fixed monthly payments, just like a mortgage.

It is important to note, however, that the lender owns the car until you finish paying the total amount of the credit.

Choose the monthly instalment you can afford

Most people have a general idea of how much they can afford to borrow in total. It is, however, not easy to calculate how much you can afford to pay back per month. A car finance calculator gives you a rough idea of how much each monthly payment is going to be.

Still, it can’t help you figure out how much you can afford to pay back each month. For this, you need to consider many factors, such as the cost of living and how it affects your repayment ability. Also, think about other factors that might happen in the future, such as taking unpaid leave.

How much does car insurance cost?

Some owners believe that car insurance is expensive. Yet, accidents happen and driving without insurance might leave you in financial trouble. You cannot, however, insure a car before you buy it. The best you can do is research and find out which option is best for after your purchase.

Checking your credit score

According to the National Credit Act, every South African gets one free credit report per year. You can get this annual free credit report from any credit bureau in South Africa. If you want an extra credit report, you have to pay a small fee. Check out this article if you are after tips to improve your credit score.

What you need to get the best car loan

After using the vehicle finance calculator, and making your decision, you will need to provide a few documents to your chosen lender. These documents include:

  • proof of income;
  • bank statements;
  • a South African ID; and
  • proof of residence.

Once everything is done, and your loan is approved, you can then go and purchase your desired vehicle.

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