Use our South African car finance calculator to estimate your repayments on your motor vehicle. Our repayment calculator can be tailored to your finances.
How is car settlement figure calculated?
What is a settlement figure? An early settlement figure is the amount still owed, plus interest and charges if you want to pay off your car finance early. Our settlement figure calculator does not include any additional penalty charges that may be incurred.
How to calculate settlement amount on vehicle finance South Africa?
The settlement is calculated on the capital amount owing at that point in time, and interest is calculated from when the last instalment was paid the previous month, up to the last day the settlement amount is valid for, Gaoaketse says.
How to calculate balloon payment for car?
Typically, a balloon payment would represent a percentage of the purchase price of the vehicle. For example, for a car costing R300 000, a 20% balloon payment would work out at R60 000. This would be paid in one lump sum at the end of the contract period – for example, 60 months or five years after purchase.
How much is left to pay on my car?
The best way to find out how much you owe on your car finance is to get in touch with your lender. Your car finance provider will have all the details and will be able to let you know how much you have left to pay, what you've already paid, and how long you have left on your finance agreement.