I came across the Wesbank Calculator page recently, which offers several useful special purpose calculators. I figured I’d share them here in case they are of use to anyone.
There are three Wesbank Calculators: a vehicle payment calculator, a vehicle purchase price calculator and a business finance calculator.
The vehicle repayment calculator allows you to calculate vehicle repayments based on a number of inputs such as the purchase price, extras cost, interest rate and term. It not only gives you a calculation of the total amount you can expect to repay, but it also shows how much of that goes on admin fees, interest, etc. A nice feature is that you can even add in the cost of insurance products (though the language is somewhat specific to Wesbank products).
In many ways the vehicle purchase price calculator is the inverse of the vehicle payment calculator. Given the amount you are willing to spend on repayments each month, it’ll tell you the maximum price of car you can buy that will fit your monthly budget. This calculator is the simpler of the two, having less fields to fill out. Like the repayment calculator it is well laid out with the option of entering values manually or via a slider.
If you’re taking out a business loan or other form of business financing, you’re going to want to know what your total repayment amount will be. That’s where the business finance calculator comes in. You enter the level of financing you are taking on, any deposit you’re contributing, the interest rate and the repayment frequency. From that it will calculate the repayment amount and the total amount you’ll repay. Simple, but very useful.