Budget Calculator

The first step toward buying a car is finding out how much you can spend. To do that, enter your monthly income after taxes in the worksheet below and subtract your monthly expenses. Add additional expenses, if necessary. The remaining balance is an estimate of what you can possibly put toward your monthly motor finance payment.

Monthly Income & Savings

Net income
t Your monthly income after taxes and deductions (or your net take-home pay)
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Monthly Expenses

Home Loan or Rent
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Utilities
t Includes monthly payments for Rates, Water, Taxes & Electricity
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Food and Household Expenses
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Transportation
t Monthly petrol, toll fees and vehicle maintenance
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Policies and Insurance
t Including home, motor and life insurance
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Clothing
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Entertainment
t For example: DSTV, movies, restaurant bills and take-aways
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Education
t School fees or tertiary education fees
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Savings
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Phone
t Cellphone and landline fees
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Credit Card Payments
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Account Payments
t For example: clothing and furniture store accounts
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Loan Payments
t For Example, monthly payments towards personal loans and other motor loans.
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Other
t Any expenses not listed above
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Total Expenses:
Remaining Surplus balance:
Max Motor Payment:
Possible Cash Price of a Vehicle:

Reminders and Notes

  1. Please note that the price of vehicle is calculated on a default rate of Prime+3% over 60 months with no deposit and no balloon.
  2. Please remember to budget / allow for the cost of comprehensive motor insurance on the vehicle you wish to finance.
  3. Remember to budget for monthly petrol / diesel, toll fees and vehicle maintenance costs.

Disclaimer

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. An amount calculated on this site does not guarantee approval. True affordability is determined and subject to a full credit assessment (This includes the verification of income and expenses, and your existing credit record) and the verification of all information provided. Since MFC has no control over the information and variables entered by the user, figures generated by the calculators will not be binding on the bank.

The user indemnifies MFC against any loss or liability, of whatsoever nature that maybe caused or brought about, directly or indirectly 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.

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