Paying off a car quicker

[marine1]

Hey guys quick question on calculation:
Vehicle balance is R165k
Installment is R3650-00 pm
Ends in April 2022
Interest 11.45%

If one pays an extra R2k per month what would the benefit and numbers be?

Thanks

 

[jman]

Hey guys quick question on calculation:
Vehicle balance is R165k
Installment is R3650-00 pm
Ends in April 2022
Interest 11.45%

If one pays an extra R2k per month what would the benefit and numbers be?

Thanks

Put your numbers in here. https://www.nedbank.co.za/content/n...s/monthly-repayment-increase-calculator.html#

 

[marine1]

Thanks man thats actually an awesome calculator

 

[jman]

Thanks man thats actually an awesome calculator

No problem. Here's another that adds some more functionality from FNB. It's for home loans, but the same principles apply
https://www.fnb.co.za/calculators/homeloan/BondCalculator.html#