What Can I afford and what will my instalment be?

A good place to start is to know exactly what you can afford. Remember to take into consideration insurance and fuel costs.

What can I afford? 

The most important part of the process is to determine how much you can spend.  As a guideline we advise an instalment not more than 30% of your Gross salary or 40% of your NET salary.

To do that, enter your net income (i.e. after taxes and normal monthly salary deductions) in the worksheet below and subtract your monthly expenses.  Add additional expenses if applicable. The remaining balance is an estimate of what you can possibly put toward your monthly motor finance payment.

It is important to be as honest as possible with yourself in order not to take the risk of overcommitting yourself.

Use our template to calculate your total Income and Expenses to get your Net Surplus

What will my instalment be? 

Calculate your monthly instalment based on vehicle price, less deposit (minimum 10%), and preferred repayment period (maximum 54 months for all new vehicles).  The repayment term may vary for used vehicles depending on the year model of the vehicle.

*Important Notes:

  • The instalment calculation will be based on a default rate of Prime + 2.50%, which rate may change during the credit assessment process.
  •  We also offer a 25% "Buy-Back Agreement"