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Car finance calculator

See what a car really costs you on finance: the monthly instalment, the balloon still owed at the end, and the total you'll pay. It uses South Africa's current prime rate and the fee limits set by the National Credit Act. Rates and limits were last checked on 9 October 2026.

Car salesman going over finance paperwork with a young couple in a showroomPhoto: Antoni Shkraba / Pexels

The rate you're offered depends on your credit record. Use the rate on your actual quote if you have one.

Most banks allow a balloon of up to 40%.

Monthly instalment R0 including the R69 monthly service fee
Amount financed
R0
Balloon still owed at the end
R0
Total you'll pay (deposit, instalments and balloon)
R0
Interest and fees on top of the car price
R0

How this works

  • Prime is 10.75%. The Reserve Bank raised the repo rate to 7.25% from 25 September 2026, and banks set prime 3.5 percentage points above repo. Most car loans are linked to prime, so your instalment changes when the repo rate does.
  • The legal maximum is 24.25%. Under the National Credit Act regulations, vehicle finance falls under "other credit agreements", capped at the repo rate plus 17% a year.
  • Fees are capped. The initiation fee may be no more than R165 plus 10% of the amount above R1,000, up to R1,050 before VAT (R1,207.50 with VAT). The monthly service fee may be no more than R60 before VAT (R69 with VAT). Lenders may charge less, but most charge the maximum, so the calculator assumes the maximum.
  • Interest on the balloon starts on day one. Your instalments don't reduce the balloon, so you pay interest on it for the whole term and still owe the full amount at the end. You then pay it in cash, refinance it as a new loan, or trade the car in.
  • What's left out: comprehensive car insurance (lenders require it on a financed car), credit life cover, fuel, tyres and services. Add these before deciding what you can afford.

This calculator is for education only. It isn't a quote or financial advice. Your bank's figures may differ slightly because of rounding, the date your first payment falls on, and any extra products added to the deal.

Read more: Your First Car on Finance: What Balloon Payments and 72-Month Deals Really Cost

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