To buy a new vehicle is always exciting. However, there is the small detail of financing. If you are not in the fortunate position of paying cash for your car, you need to get finance and a Nedfin loan calculator can help you get an estimate you might paying on your monthly instalments.
When purchasing a vehicle at a dealer, the dealer will try to get the best finance options from different banks. They say that car’s price should not exceed more than 30% of your annual gross salary and make up more that 10% in instalments monthly.
Nedfin Loan Calculator
So, when looking for private vehicle financing, how do you decide on which bank to target? Look at things like interest rates, terms, and conditions. When going to Nedbank, your vehicle and asset finance are managed by Nedfin. Its Nedfin loan calculator can calculate the estimated amount that you are able to pay monthly for a car.
You need to have amounts that include the purchase price, a deposit if you have one, the period you are willing to pay, the interest rate, a balloon amount if applicable and then it will do its magic and calculate the value. You even have the option of adding lump sum payments if you want to pay off the car faster, which will calculate the amount, you, could be saving on credit and the amount of months in which you can settle the amount faster.
Capitech offers up to R200 000 if you need car finance. You can also calculate the amount you much end up paying by using a loan calculator, but just like in the case of other banks, you credit interest are calculated according to your personal profile. Therefore, when you are playing around with the credit calculator, you need to make room for the possibility that your estimated amount will increase due to credit or even the period of settlement offered by the bank.