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AfriTaxCalc

N$7,612.20 a month

Workings

Car finance calculator

Work out the monthly instalment and total cost of car finance, and check it against the rules for buying a car on credit in Namibia.

10% deposit, 72 months at mostChecked against the Acts · 23 October 2026

Monthly instalment

N$7,612.20

Financing N$360,000.00 over 72 months at 15% costs N$7,612.20 a month. Interest comes to N$188,078.93.

Total interest
N$188,078.93
Total cost of the car
N$588,078.93
Paid off in
72 months

Within the legal maximum of 16.4% a year (1.6 × the prime 10.25% since 17 June 2026). Fees count as finance charges too.

The car and the finance

At least 10% for a car bought for private use.

At most 72 months for a car bought for private use.

Bought for

A car bought only for the business falls outside the Credit Agreements Act.

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Workings

Price of the carN$400,000.00
Deposit(N$40,000.00)
Amount financedN$360,000.00
Monthly instalment15% a year ÷ 12, over 72 monthsN$7,612.20
Interest over the termeach month's interest rounded to the centN$188,078.93
Total cost of the cardeposit, trade-in, instalmentsN$588,078.93

Uses the Credit Agreements Act's rules for cars bought on credit, the Usury Act's maximum of 1.6 × the prime rate, and the prime rate of 10.25% since 17 June 2026. Checked 23 October 2026; see the numbered sources. Estimates for guidance only, not tax or financial advice. We don't offer credit or arrange loans.

The rules for a car bought for private use

A car bought on credit for private use comes under the Credit Agreements Act. You must pay at least 10% of the cash price up front, and the finance can run for at most 72 months. The instalments must be level: none may be more than 10% bigger than the others, except a smaller final one, so there’s no balloon.

A car bought for the business

The Act doesn’t apply to goods bought only for business activities, so a business can agree a balloon or a longer term. The Usury Act’s maximum rate still applies to finance up to N$500,000: 1.6 times the prime rate, 16.4% today.

If you fall behind

For a car bought for private use, the lender must first write to you and give you at least 30 days to pay, or 14 days if you’ve fallen behind twice before. After it takes the car, you have 30 days to pay the arrears and costs and get it back, and if the car is worth more than you owe, the lender must pay you the difference.

We don’t offer credit, arrange finance or recommend dealers or lenders.