R300,000 Vehicle Finance Calculator
Calculate monthly car loan repayments and instalments for new and used vehicle financing from any South African bank or dealer.
What are your loan details?
What will your repayment be?
Monthly Repayment
R 9 983,80
per month
Total Interest
R 1 396 111,73
Total Cost
R 2 396 111,73
Loan Summary
Loan Amortisation Chart
Results shown are estimates for financial planning purposes only and do not constitute financial advice, a credit quote, or an offer of credit. Rates depend on your credit profile and lender. CalcLoan is not a registered financial services provider. Please consult a qualified financial advisor or contact your bank directly before making financial decisions.
Understanding your loan
Total interest paid by term
Car Loan for Information
Vehicle finance in South Africa is typically offered over 48 to 72 months. New cars attract lower interest rates (around 12-14%) compared to used vehicles (around 15.5%–17%). Most major SA banks and vehicle finance providers offer vehicle asset finance (VAF). A deposit of 10-20% can significantly reduce your monthly instalment and total interest paid. Use our calculator to compare different terms and see what car you can afford.
What can this calculator work out?
- New car loan calculations
- Used vehicle financing
- Car instalment calculator
- Vehicle finance interest rate comparison
- Balloon payment analysis
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A R300,000 vehicle finance at 14.00% (prime + 3.5%) over 48 months costs R8,198/month, with R93,501 paid in interest at current SARB prime (10.5%).
A R300,000 vehicle finance is typically used for purchasing a new or used car, bakkie, or SUV through dealer or private financing. At current prime (10.5%), most SA lenders — including most SA banks and vehicle finance providers — offer this amount at 12.00%–17.00%, which works out to R7,900–R8,657/month over 48 months. Most banks require a minimum monthly income of around R8,333 to qualify for a vehicle finance of this size.
R300,000 Vehicle Finance — Rate & Term Comparison
| Rate | 36 mo | 48 mo | 5 yrs | 6 yrs |
|---|---|---|---|---|
| 12.00% (prime + 1.5%) | R9,964/mo | R7,900/mo | R6,673/mo | R5,865/mo |
| 14.00% (prime + 3.5%) | R10,253/mo | R8,198/mo | R6,980/mo | R6,182/mo |
| 17.00% (prime + 6.5%) | R10,696/mo | R8,657/mo | R7,456/mo | R6,674/mo |
R300,000 Vehicle Finance — Frequently Asked Questions
Repayments are estimates based on SARB prime rate of 10.5% (last verified May 2026). Actual rates depend on your credit profile and lender. This tool is for financial planning purposes only and does not constitute a quote, offer, or financial advice. Verify current prime rate at SARB.co.za.