Disclaimer (The calculation results of this calculator are to give you an indication of what you might be able to borrow. Your finance institution or bank, looks at many more factors to determine the amount you can borrow, which can substantially differ from the calculation on this site).
The calculator will ask some simple inputs.
- The amount your think or are willing to pay every month
- How long you will take to pay back your loan
- The interest rate you think you can negotiate
- If you have a deposit and/or a trade in car
- It will take into account the compulsory loan initiation fees and monthly compulsory admin fees
It will then calculate the amount you might be able to borrow or the value of the car you can go shopping for.
Other things to take into account
Of course there are many other costs associated of owning a car, besides your monthly repayments.
- Insurance Costs
- Petrol and Toll Fees
- Yearly License Fees
- Maintenance to keep your car in top condition
A car is a depreciating asset, meaning it will lose value every month whether you like it or not.
But if you have taken every thing into account and you decide to purchase the car of your dreams. Have fun driving it, keep to the speed limits / traffic rules (Otherwise you might rack up some fines). And last but not least, don’t drink and drive