The vehicle repayment calculator helps you calculate the monthly repayments you'd have to make for a given vehicle loan and loan terms. You also have the option of calculating the cost of typical finance fees and insurance products.
Start by specifying the purchase price of the vehicle you are interested in buying. Then use the sliders to vary the extras, deposit, rate, term etc. by sliding the buttons to the left or right. The new repayment will be re-calculated as you release the slider.
To add insurance products to your deal, simply select the product you are interested in by ticking the checkbox next to it. You can move your mouse over the small info boxes next to each option to get a description of that option. Additional useful information will be displayed when you select certain options, such as the balloon % and insurance products.
Use the sliders to change values in the textboxes.
Move your mouse over the small info boxes for additional information.
All calculations made on calculators supplied on this site, together with rates quoted, are guidelines only and are subject to confirmation at the time of finalising any transactions. All information regarding the products, fees and/or costs which are included in and form a fundamental basis of the calculations are subject to change at any time prior to a final pre-agreement quote being handed to the User. The User indemnifies GWM Finance against any loss or liability, which the User may suffer as a result of the use of any calculator. The site and all information provided on this site and the services provided on this site, are provided "as is". The information provided on this site should not be treated as professional advice of any kind.
The purchase price refers to the price of the vehicle, including VAT, excluding the optional extras and deposit.
Total value of extras
The total value of extras refers to the value of all optional extras, including VAT, that are to be included in this finance agreement. Examples of extras include radio/CD player, mag wheels, sunroof.
A deposit is an amount paid by the borrower, to reduce the finance or loan amount required. A deposit is not always required when financing a motor vehicle.
The finance amount is the amount that will be financed by the bank and is the amount used to calculate the monthly instalment.
The term refers to the number of months over which the loan will be repayed. The maximum repayment period is 72 months.
The percentage annual interest rate applicable to the transaction.
The balloon percentage is the balloon lump sum payment expressed as a percentage of the finance amount.
A balloon payment is an inflated payment at the end of a contract. The customer is solely responsible for the balloon payment and at the end of the agreement has certain options that include: settle the account in cash, dispose of the vehicle and settle the account, or re-finance the payment at the banks discretion. Whilst a balloon payment has the effect of reducing the monthly instalment, total interest paid can be higher and therefore vehicles should be financed with the lowest balloon payment possible.
The basic repayment refers to the amount which is paid to the bank every month, including the admin and initiation fees if selected, but excluding any insurance products.
The monthly amount payable on selected insurance products. This monthly amount excludes any annual or term insurance options.
The monthly repayment refers to the amount which is paid to the bank every month, including the admin and initiation fees if selected, as well as any selected insurance products.
The interest paid refers to the total interest that will be paid on the deal if it runs for the full term.
The total paid refers to the total amount (including interest and capital) that will be paid on the deal if it runs for the full term.
Monthly admin fee
The monthly admin fee is a compulsory monthly bank fee that is charged for the administration of an account in terms of the National Credit Act.
The inititation fee is a compulsory once-off bank fee that is charged when opening a new account in terms of the National Credit Act. The initiation fee can be financed as part of the loan (this is generally the case), or paid separately.
Customer Protection Plan (CPP)
CPP settles your outstanding loan balance in the event of your death, permanent disability or certain dread diseases. It also provides limited cover in the event of temporary disability and retrenchment.
Coverplus offers you shortfall insurance covering the difference between the insurance company payout (market value) and the balance still owing to the bank.