Buying a car is often a milestone for many individuals. Vehicle finance can be arranged through FNB. While not everyone can afford to buy a car by paying cash upfront, First National Bank offers South Africans a range of options to own a vehicle.
Making the process even easier for individuals is the FNB Vehicle Finance Calculator. This option allows you to calculate monthly repayments based on your income and the vehicle price.
To calculate repayments according to the Vehicle purchase price:
- Fill in the purchase price
- Add any extras you would like with the vehicle of your choice
- Add the deposit amount you will pay
- Select a repayment period which will work for you.
The calculator will work out how much you can expect to repay on a monthly basis. This will come in handy for your budgeting purposes. You will have a clear idea of how much you need to earn to afford a car and how much you can expect to pay with interest added.
To calculate repayments based on your monthly income:
- Fill in the monthly repayment
- Fill in the deposit (if applicable)
- Fill in the repayment period in months
FNB has various finance options available for individuals, including:
Instalment Sale Agreement – You pay for your vehicle by instalments over an agreed period. A deposit may be requested, but is not legally required. FNB offers a repayment period of between 12 and 72 months.
Lease Agreement – This agreement allows you to rent a vehicle for an agreed term. You will have an option to arrange ownership or to extend the term.
Graduate Vehicle Finance – As a graduate, you have two types of vehicle financing solutions:
Instalment Sale or Lease Agreement
There is no credit or employment history required
Young Professional Vehicle Finance – As a young professional, you get to choose between in instalment sale or a lease agreement[finance_calculator]