Is there anyone that can work this out, or able to point me to a calculator that can, please?
Rough figures :
Car : 420,000
Deposit : 0
Term : 72 month
Interest : 12%
Monthly : R7,350
Capital Balance now : R385,000
So when I got the car a year back, I knew I was getting money in 12-18 months so was pushing for the lowest monthly price. We worked out then that if I got this money and put a R100,000 capital reduction into the car, the monthly payments would be an estimated R5,100 or so. I took the deal and a few days back the money came through.
I emailed the services for an estimate installment and got impatient, so decided to rather phone. Again the call center worked out around R5,100.00 and was happy to go ahead ... until the email came back with R6,350.00pm after the injection.
I find it odd that on a capital balance of R385,000, a R100,000 injection is R1,000pm. Also that 2 of 3 have given me similar amounts of R5,100.
Anyone know how to work this out?
I understtand rough, but a 25% difference in monthly installments is too different - and the worst is they said 'pay into the account, we'll issue you with a document for the final amount as we can't give you anything other than the estimate'
At R5,100 I'll do it but at R1,200 more I won't
Rough figures :
Car : 420,000
Deposit : 0
Term : 72 month
Interest : 12%
Monthly : R7,350
Capital Balance now : R385,000
So when I got the car a year back, I knew I was getting money in 12-18 months so was pushing for the lowest monthly price. We worked out then that if I got this money and put a R100,000 capital reduction into the car, the monthly payments would be an estimated R5,100 or so. I took the deal and a few days back the money came through.
I emailed the services for an estimate installment and got impatient, so decided to rather phone. Again the call center worked out around R5,100.00 and was happy to go ahead ... until the email came back with R6,350.00pm after the injection.
I find it odd that on a capital balance of R385,000, a R100,000 injection is R1,000pm. Also that 2 of 3 have given me similar amounts of R5,100.
Anyone know how to work this out?
I understtand rough, but a 25% difference in monthly installments is too different - and the worst is they said 'pay into the account, we'll issue you with a document for the final amount as we can't give you anything other than the estimate'
At R5,100 I'll do it but at R1,200 more I won't
