Car Loan Calculator

// Initiation Fee

A once-off fee charged by the lender to set up your loan. In South Africa this is capped by the NCA (currently around R1,207.50). In the US it's called an origination fee, typically 1-2% of the loan.

// On-the-Road Fees

Includes vehicle registration, licence plates, delivery charges, and any dealer documentation fees. These are usually paid upfront but can sometimes be rolled into the loan.

// Monthly Admin Fee

A small monthly service fee charged by the lender for account administration. In SA this is NCA-regulated (around R69/mo). Some US lenders charge similar account maintenance fees.

// Extended Warranty

Covers mechanical breakdowns beyond the factory warranty period. Can be paid monthly or as a lump sum. Consider the vehicle's reliability and your risk tolerance before adding this.

// Service / Maintenance Plan

Covers scheduled services and sometimes wear-and-tear items. Locks in service costs at today's prices. Particularly valuable if you plan to keep the car for the full loan term.

// Extra Payments

Adding even a small extra monthly payment to your car loan can save you thousands in interest and shorten your loan by months. The savings are shown in the green panel when you enter an amount.

// True Cost of Ownership