What Car Can I Afford? — SA Calculator
Find the maximum car price you qualify for from your gross monthly income, existing debt, deposit and trade-in. Uses the same 25% vehicle and 36% total-debt rules SA banks use to size your vehicle finance approval.
Your salary BEFORE tax. Joint applicants: combine both incomes.
Bond, credit card minimums, personal loans, store cards. Excludes rent / living expenses.
Cash deposit plus the trade-in value of your current car. Bigger upfront = bigger car you can afford.
SA prime is 10.25% (May 2026). Default prime + 2% reflects a typical buyer offer.
Adding a balloon reduces the monthly so the same income qualifies for a more expensive car — but you carry the balloon as debt at the end of the term.
You can afford a vehicle up to
R 421 132
R 391 132 financed + R 30 000 upfront
Max monthly instalment
R 8 750
25% of gross
Max amount financed
R 391 132
At 12.25% / 60mo
Binding rule
Vehicle 25%
Vehicle-cost rule (25% of gross)
How we got there
- 25% vehicle rule: R 8 750 max monthly instalment
- 36% total-debt rule: R 9 600 max monthly instalment after subtracting R 3 000 existing debt
- Binding cap: R 8 750 (the lower of the two)
- Max amount financed at 12.25% over 60 months: R 391 132
The 25% rule is the SA bank rule of thumb for vehicle finance (looser than the 30% bond rule because cars depreciate, so banks don't want you over-committed to a falling-value asset). The 36% total-debt cap is from National Credit Act Regulation 23A. Banks will also weigh credit score, employment stability and living expenses; this calculator covers the income-and-debt math only. Don't forget comprehensive insurance (~R800–R2,200/mo) which is required by every SA bank. Try the vehicle finance calculator to see what specific cars actually cost monthly.
Data: SARB repo rate · National Credit Act Reg 23A · See methodology
How SA banks decide what car you qualify for
SA banks apply two affordability filters to vehicle finance. First, the vehicle-cost rule: your monthly instalment cannot exceed 25% of your gross monthly income. Second, the total-debt rule: the sum of all monthly debt repayments (bond + car + cards + loans) cannot exceed 36% of gross income — this is the National Credit Act Regulation 23A cap.
Whichever rule is more restrictive sets your ceiling. Someone with no existing debt is constrained by the 25% vehicle rule. Someone with a big bond and credit card balances is constrained by the 36% total-debt rule, often well below the 25% headline. The calculator shows which one is binding for your situation and the exact rand amount of each cap.
On top of these income tests, the bank's actual underwriting looks at credit score, employment stability, and reasonable living expenses (food, transport, utilities, school fees) — the full NCA Reg 23A affordability assessment. Two people on identical R30,000 salaries can get different approvals because one has perfect credit and stable employment, the other has missed payments or a short tenure. This calculator covers the income-and-debt math only; treat the result as the upper bound of what you might qualify for.
Income → car price quick reference
Approximate maximum car price by gross monthly salary, assuming 12.25% (prime + 2%) over 60 months, R20,000 deposit, no existing debt, no balloon. Your exact number depends on credit score, employment, and current debt — use the calculator above for precision.
| Gross monthly income | Max monthly instalment (25%) | Approx max car price |
|---|---|---|
| R 15 000 | R 3 750 | R 187 000 |
| R 20 000 | R 5 000 | R 243 000 |
| R 25 000 | R 6 250 | R 299 000 |
| R 30 000 | R 7 500 | R 354 000 |
| R 40 000 | R 10 000 | R 466 000 |
| R 50 000 | R 12 500 | R 578 000 |
| R 75 000 | R 18 750 | R 856 000 |
| R 100 000 | R 25 000 | R 1 135 000 |
Frequently asked questions
How much car can I afford on my salary in South Africa?
SA banks size your vehicle finance against gross monthly income using two rules. First, the monthly instalment cannot exceed 25% of your gross salary — this is the industry rule of thumb SA banks (WesBank, MFC, Standard Bank VAF, Absa) coach customers around. Second, your total monthly debt repayments (bond + car + cards + personal loans) cannot exceed 36% of gross income, which is the National Credit Act Regulation 23A cap. Whichever rule is more restrictive wins. So someone earning R30,000/month with R3,000 of existing debt qualifies for R7,500/month on a car instalment, which at 12.25% over 60 months finances around R335,000.
Why is the vehicle ratio (25%) lower than the bond ratio (30%)?
Because cars depreciate. A house typically holds value or appreciates, so banks accept up to 30% of gross income on the bond. A car loses 15–25% of its value in year one and is worth half what you paid by year five. Banks (and consumer finance educators) cap the vehicle instalment at 25% so you don't over-commit to a depreciating asset. Some banks will stretch to 30% for strong applicants, but 25% is the standard 'comfortable' cap. If you push to 30% you risk being underwater on the loan AND short on cash for everyday life — especially as fuel, insurance and maintenance pile on top.
What counts as 'monthly debt' in the calculator?
Anything you're contractually committed to pay each month under a credit agreement: home loan instalment, existing car finance, credit card minimum payments (use the actual minimum, not the full balance), personal loans, store cards (Edgars, Truworths, etc.), retail accounts, and any furniture or appliance financing. Don't include rent (it's not a credit agreement under NCA), utilities, groceries, school fees or medical aid — those are living expenses, which banks assess separately under the NCA affordability assessment but aren't in the 36% debt-to-income ratio.
Does a deposit and trade-in really make a difference?
A lot. Both reduce the amount you need to finance, which directly lowers your monthly instalment. A 10% deposit on a R400,000 car means you finance R360,000 instead of R400,000 — at 12.25% over 60 months that's R900/month less. A 20% deposit also typically earns you a 0.5% rate discount because the bank's exposure is lower, which compounds the saving. Trade-in works exactly like a deposit: if your old car is worth R50,000 and you contribute that, you're financing R50,000 less. Always max your upfront contribution if you have the cash — it's the highest-return move in the whole transaction.
Should I add a balloon to qualify for more car?
Technically yes — a balloon lowers your monthly instalment so the same income qualifies for a more expensive car. A 35% balloon on a 60-month loan typically lifts the price you can afford by 25–30%. The trap: you're not actually buying more car, you're deferring a chunk of the loan to a single payment in five years. At month 60 you owe a lump sum (e.g. R140,000 on a R400,000 car with 35% balloon) and most people refinance — adding 12–36 more months of interest. Banks love balloons because the total interest you pay is HIGHER than a fully amortising loan. Use the balloon slider to see what you qualify for, but only commit to the higher car if you have a real cash plan for the balloon at term-end.
What other costs should I budget for besides the instalment?
On top of the monthly instalment, budget for: comprehensive car insurance (R800–R2,200/month, mandatory for any SA bank-financed vehicle), tracker subscription (R200–R500/month, often financed into the loan), monthly bank admin fee (~R69/mo, NCA-capped), annual vehicle licence (R200–R1,500 depending on tare weight), fuel (use our trip cost calculator for per-route running cost), tyres and servicing. As a rule of thumb, total monthly cost of ownership is your finance instalment plus 50–80% on top once everything is included. Factor that in BEFORE you commit to the maximum the bank approves.
Sources: Affordability ratios from National Credit Act Regulation 23A and SA bank vehicle finance underwriting practice (WesBank, MFC, Standard Bank VAF, Absa). SA prime rate (10.25%) sourced from SARB and Ooba, verified May 2026. Calculator covers income-and-debt math only — your bank's actual approval depends on credit score, employment stability, and reasonable living expenses. Not financial advice.
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