Your individual situation, including your income, your outgoings, and what is affordable for you, will determine how much you are able to borrow. Other debts you have will also be taken into consideration by lenders. Based on the amount you believe you'll be able to pay back each month and your credit score, our calculator may help you get an indication of how much you can borrow.

Depending on how much you borrow, for how long, and at what interest rate, the cost of your repayments will change. It may also rely on your ability to trade in your old car for the new one.

Use our vehicle loan calculator's "What are my repayments?" tab to quickly determine how much you could have to pay. If you have a low credit score, you'll probably have to pay a higher rate of interest, which translates to larger monthly payments.

The calculator may also be used to see how your monthly payments will change depending on whether you choose to pay off the debt sooner or later or at a higher or lower interest rate.

Yes, however if your finances are in order before you apply for a vehicle loan quotation of any type, you could have fewer possibilities to select from. Make sure you pay your credit card and home expenses on time and double-check your credit report to make sure there are no errors. To increase your chances of being accepted, look into what you can do to raise your credit score.

Accounts and other financial documentation, such as bank statements and tax returns, may be required to demonstrate to a lender your ability to repay a loan.

Using our loan eligibility checker to determine if you qualify for financing for your new vehicle is the easiest method to learn.

You must be a resident of South africa and older than 18 years old.

Yes, but because you'll be viewed as a larger risk, you'll probably have to pay a considerably higher rate of interest. You'll pay extra for your loan, so be sure you can afford to pay it back. If you don't, your credit score will only decline, making it much more difficult for you to obtain credit in the future.

You must be a resident of South africa and older than 18 years old.

It's a good idea to look into what you can do to raise your credit score now if you know you'll need to borrow money in a few months.

One benefit of a vehicle loan over certain other forms of auto financing is that there is no requirement for a significant down payment. However, some dealers might need a modest deposit to hold a car for you while you work out the financing.

You won't often purchase the automobile completely; instead, you'll put down a deposit and borrow money to cover a portion of the balance, which results in cheaper monthly payments. You will have the choice to return the vehicle and walk away at the conclusion of the agreement, take out another PCP for a new vehicle, or make a sizable final balloon payment to keep the vehicle. For more costly autos, it may be effective. Usually, mileage limitations are in place.

You'll make monthly payments to the auto loan provider after paying a down payment (often 10%). The monthly payments may appear to be rather hefty because you are paying off the whole worth of the automobile. The automobile will, however, be yours outright once you have paid off your last instalment and any further "option to purchase" fees. During the hire purchase contract, your mileage is often not subject to any limitations.

An unsecured personal loan could be a good choice for your automobile purchase in some circumstances. When buying a used automobile or one from a private seller, when dealership financing is not an option, this could work best. When you utilise a car loan to pay for the purchase, you will own the vehicle outright and will reimburse the loan provider on a regular basis. There aren't any other costs to pay in addition to the loan.