MotorHappy’s free auto calculators: How much car can you afford?

A car is usually the second most expensive item you buy – after your home – and it should never be a decision taken lightly. MotorHappy recently introduced two new free online auto calculators to help you figure out your budget.

MotorHappy’s Finance Calculator

There are various options when it comes to financing your car:

  • Instalment Sale Agreement. Pay off your car in equal monthly instalments over a pre-determined number of months.
  • Leasing or Rent to Own. You pay to use the vehicle for a certain period and then return it at the end. You never own the vehicle.
  • Personal loan. This is sometimes necessary if you want to buy an older car, although personal loan interest rates are usually much higher than car finance interest rates.

If you’re considering financing your car, use the MotorHappy Finance Calculator to help estimate the monthly repayments for your new car. Simply input the purchase amount and the deposit amount, as well as how long you intend to pay the loan back. We will then give you an estimated monthly budget as well as a list of used cars for sale that match your budget.

Know your credit score with MotorHappy’s Affordability Calculator

It’s always important to know your credit score – but especially so when you’re applying for a loan or for a credit card. Your credit report is used by the majority of credit and service providers and is calculated using a formula that evaluates how well or badly you pay your bills, how much debt you carry and how all of that stacks up against other borrowers. Essentially, it tells you in a single number what your credit report says about your management of existing credit.

If you want to apply for credit to buy a car, for example, your credit score can serve as a guide. A high score is favourable to financial providers, while a low score implies that you have a negative credit rating and either your request for finance will be denied, or your interest rate will be even higher.

Use the free MotorHappy Affordability Calculator tool to run a credit bureau check on your behalf which will help you get an indication of whether you will get finance approval.

Shop online for previously loved cars

You will find 1000s of previously loved cars on the MotorHappy online marketplace. Enter search requirements such as budget, make and model, body type and brand, and then browse from the comfort of your home or office.

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