Car Finance Calculator
Calculate your monthly car finance instalment in South Africa. Include a balloon (residual) payment, deposit, and choose your term from 12 to 72 months. See total cost and interest for any vehicle price.
Quick Calculator Get a fast estimate
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A 10% deposit reduces your monthly instalment and interest.
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A residual/balloon payment defers a lump sum to end of term.
Monthly Instalment
R 6 365
Balloon / Residual Amount
R 0
Total Monthly Payments
R 458 279
Total Cost of Vehicle
R 493 279
Total Interest Paid
R 143 279
Amount Financed
R 315 000
Deposit Percentage
10.00%
Term
72 months
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How to Use the Car Finance Calculator
- Vehicle Price: The total on-the-road price or OTR price of the vehicle.
- Deposit: The amount you pay upfront. A 10% deposit is recommended to reduce your financed amount.
- Annual Interest Rate: Check your bank's quote. SA vehicle finance rates typically range from 11% to 18%.
- Finance Term: Choose 12 to 72 months. Most SA buyers choose 60 or 72 months.
- Balloon Payment %: Enter 0 for no balloon. Enter 20–35% to defer a portion to end of term.
The Extended Calculator below adds New Car, Used Car, and Refinance scenarios with a total cost chart. The Professional Calculator includes 5-year total cost of ownership, depreciation, and insurance analysis.
Need more detail?
Extended Calculator More options, charts, and scenario comparison
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Monthly Instalment
R 6 939
Balloon Payment
R 90 000
Total Finance Cost
R 634 623
Total Interest
R 184 623
All-in Monthly
R 11 739
Total Ownership Cost over 72 Months
Car Finance Calculation Method
The financed amount excluding any balloon is calculated using the standard PMT formula:
Monthly Instalment = (Finance Amount − Balloon) × r(1+r)^n / ((1+r)^n − 1)
- Finance Amount = Vehicle Price − Deposit
- Balloon Amount = Vehicle Price × Balloon %
- r = Monthly rate (annual rate ÷ 12)
- n = Term in months
The balloon amount remains payable at the end and accrues interest throughout the term.
Worked Example
Vehicle: R350,000 | Deposit: R35,000 | Rate: 13.25% | Term: 72 months | Balloon: 20%
- Finance amount: R315,000
- Balloon: R350,000 × 20% = R70,000
- Principal financed: R315,000 − R70,000 = R245,000
- Monthly rate: 13.25% ÷ 12 = 1.104%
- Monthly instalment: ≈ R4,934/month
- Total monthly payments: R4,934 × 72 = R355,248
- Total cost: R355,248 + R70,000 + R35,000 = R460,248
- Total interest: R460,248 − R350,000 = R110,248
Need full precision?
Professional Calculator Complete parameters, sensitivity analysis, and detailed breakdown
Finance Details
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SA max: 30% of purchase price
Insurance & Protection
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Monthly Running Costs
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Cost Escalation (5-year TCO)
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All-In Monthly Cost
R 13 739
Finance Instalment
R 6 939
Insurance Total
R 2 000
5-Year Total Cost
R 1 037 602
5-Year Total Cost of Ownership
| Category | 5-Year Total | % |
|---|---|---|
| Finance (instalments + balloon) | R 461 353 | 44.5% |
| Fuel (with 8% p.a. escalation) | R 211 198 | 20.4% |
| Insurance (with 6% p.a. escalation) | R 257 051 | 24.8% |
| Maintenance, Tyres, Licence, Parking | R 108 000 | 10.4% |
| Grand Total | R 1 037 602 | 100% |
Residual Value & Depreciation Forecast
| Year | Estimated Value | Depreciation | Value Lost |
|---|---|---|---|
| Year 1 | R 337 500 | R 112 500 | 25.0% |
| Year 2 | R 286 875 | R 163 125 | 36.3% |
| Year 3 | R 243 844 | R 206 156 | 45.8% |
| Year 4 | R 207 267 | R 242 733 | 53.9% |
| Year 5 | R 176 177 | R 273 823 | 60.8% |
Note: SA vehicle depreciation rates: ~25% Year 1, ~15% per year thereafter. Based on NAAMSA/TransUnion historical data.
Frequently Asked Questions
A balloon payment is a lump sum deferred to end of term. It reduces monthly instalments but must be paid in full at end — by cash, refinancing, or trading in. SA banks typically cap balloons at 35% of purchase price.
No deposit is legally required, but a 10% deposit improves approval chances, lowers instalments, and reduces total interest. Some banks require a deposit for lower credit-score applicants.
Rates are linked to prime (approximately 11.25% in early 2026). Good credit borrowers may get prime to prime +2%; higher-risk borrowers may pay prime +3% or more.
Standard terms are 12–72 months (6 years). Longer terms lower monthly payments but significantly increase total interest paid.
A balloon reduces monthly payments but increases total cost. It suits buyers with tight cash flow who plan to trade in or pay a lump sum at term end. Avoid it if you want to own the car outright.