how to calculate the monthly cost of owning your dream car

INITIAL COSTS:

• Price of vehicle
• Admin fee (±R3000)
• License and registration fee (±R1800)
• Service and delivery charge

MONTHLY COSTS:

• Down payment on cost
• Interest
•  Insurance
• Tracker / Netstar (Security)
• Monthly Depreciation (of book value) (±R900)
  • For Example the Toyota Yaris T3 A/C 5d H/B.
    The 2010 “New List” price was R157 000.
    The 2008 “New List” price was R138 000.
    The 2008 Trade Value is R84 600 (for 85000km) from the June 2011 book
• Proportionate monthly cost of the service pro-rata according to mileage
• Consumables like brakes, tyres and wash and valet. (Fuel and toll)
• Electronic interest rate calculators are freely available on the net:
  • See www.westbankexpert.co.za /first_steps.php to see if you qualify and to calculate the payments

*THIS IS WHY IT MAKES SENSE TO BUY SECOND HAND!