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AfriTaxCalc

R7,132.02 a month

Workings

Car finance calculator

Work out the monthly instalment on vehicle finance, with or without a balloon payment, what the balloon really costs, and whether the rate is within the legal maximum.

Repo rate 7.25% from 25 September 2026Checked against the NCA regulations · 23 October 2026

Monthly instalment

R7,132.02

Financing R360,000.00 over 72 months at 12.5% costs R7,132.02 a month. Interest comes to R153,505.94.

Total interest
R153,505.94
Total cost of the car
R553,505.94
Without a balloon
No balloon

Within the legal maximum for vehicle and other instalment finance (24.25%: the repo rate of 7.25% plus 17%).

The car and the finance

A share of the price left to pay at the end. 0 for none.

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Workings

Price of the carR400,000.00
Deposit(R40,000.00)
Amount financedR360,000.00
Monthly instalment12.5% a year ÷ 12, over 72 monthsR7,132.02
Interest over the termeach month's interest rounded to the centR153,505.94
Total cost of the cardeposit, trade-in, instalmentsR553,505.94

Uses the National Credit Regulations' maximum rate for instalment agreements and the repo rate of 7.25% from 25 September 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.

How car finance works here

Most car finance in South Africa is an instalment sale: the bank owns the car until you’ve paid it off. You pay a deposit (or trade in a car), and the rest is repaid in monthly instalments over an agreed term, with interest charged monthly on what you still owe.

Balloon payments

A balloon is a lump sum left to pay at the end, set as a share of the price. It lowers the monthly instalment, but you pay interest on the balloon for the whole term, so the car costs more overall, and you still have to pay, refinance or sell to cover the balloon when it falls due.

Handing the car back

You can end the agreement and return the car. The lender sells it and credits you with the proceeds, less reasonable costs, and you still owe any shortfall. There’s no right to hand it back and walk away part-way through.

We don’t offer finance or recommend dealers or banks. If you’re struggling with debt, the National Credit Regulator can point you to a registered debt counsellor.