Updated 11.10.2022

MFC Finance Calculator

MFC finance is a division that deals with car finance. In the MFC website, clients can find and use any of the two calculators provided to find out what motor vehicle loan they should get. These two MFC vehicle finance calculators are the instalment calculator and the budget calculator.

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The MFC finance instalment calculator lets you find out the monthly payments that you will repay each month for a vehicle loan while budget calculator lets you find out the loan you can afford to repay on your salary. This article explains you how these calculators work and how you can benefit from them.

MFC also has two additional calculators. The first one is for their online auction. It helps bidders get estimates of the total amount they should expect for specific sales. The second is on the Avo Auto website. It is a test of the buyer’s affordability. Affordability reveals whether or not a buyer can afford monthly repayments for a vehicle loan.

Instalment Calculator

If you go to the monthly Instalment Calculator page on MFC’s website, you will see information boxes with titles at the top. These titles are questions for the box they head. All the information required are digits. The following steps show how to use the Instalment Calculator:

  1. Answer the question from the title asking about the price for your chosen vehicle. It should  read “Total Purchase” or “Cash Price.” Type your answer in the box below this title.
  2. After you do, you will notice that numbers appear automatically in some of the boxes.
  3. The next important box you should fill in is the one titled “Repayment Period.” In this box, you fill in the number of months the loan term lasts.
  4. Next, fill in the box titled “First Payment Date.” This box is filled in by selecting the date when the first repayment is due.
  5. After you have filled these in, click calculate.

Now pay attention to the section of the page with the titles “Compulsory Initiation fee Once off,” “Monthly Admin fee” and “Monthly repayments.” A figure will appear automatically under the title “Monthly repayments” after you click calculate.

Additionally, the Instalment Calculator can be used to find out how having either a deposit or balloon payment affects the monthly repayment. There are boxes titled “Deposit” and “Balloon payment” to be filled for such loan terms. Once you fill them in and click “Calculate”, your monthly repayment will be generated.

Budget Calculator

The Budget Calculator page has information boxes with titles asking for your monthly income and subsequent monthly expenditures. This calculator acts as credit assessment which generates the monthly repayment and the total purchase price you can afford from your monthly income.

The page has three sections: “Monthly Income and Savings” section, “Monthly Expenses” section and results section. All the information required in this calculator are also digits. Below are the steps showing how to use the Budget Calculator:

  1. First fill in the information box under the title “Net Income” to start. You fill in this box with the amount that gets into your bank account on every monthly payday.
  2. Next, you fill in the information boxes in the “Monthly Expenses” section. These boxes should have titles that represent everything you spend your monthly salary on. If there is an expense that does not fall under any category provided for by the titles, fill it in under the title “Others.”

While you fill in the box, you’ll notice the numbers in the results section keep changing. This section will give you estimates for the loan you can afford. It shows monthly repayments and the loan you should get with your salary. The estimate of repayment you can afford is under the title “Max Motor Payment” while the estimate for the vehicle price you can afford is under the title “Possible Cash Price of a Vehicle.” The calculator also gives two helpful estimates, “Total Expenses” estimate and “Remaining Surplus balance” estimate. The “Total Expenses” estimate will show the amount you spend on your monthly household necessities. The “Remaining Surplus balance” will show the amount you should have left after spending on your monthly household necessities.

Other MFC Calculators

MFC has an online vehicle auction website in addition to its primary website. This website includes an auction calculator for potential bidders. They use it to get estimates for the total payment they should expect for specific sales. The total payment is not inclusive of 15% VAT.

Avo Auto, which is part of MFC, includes an option to “Calculate My Affordability” on their website. This finance calculator will give you an estimate of the total vehicle loan and monthly repayment you can afford on your salary. In order to get estimates using this calculator, you fill in an online form with your personal information, contact details, net salary and monthly expenses. You are later sent the results after pre-screening.


If you want to own a vehicle, but don’t have the finances, you can purchase one using a vehicle loan. MFC finance gives car loans to qualifying applicants. It has online finance calculators that give loan and repayment estimates.

The first step to owning a car is planning. Before looking for a car, you should have a rough idea what you can afford. The online calculators help with that. In order to get MFC vehicle financing, you have to pass the affordability test. An affordability test reveals whether or not you can afford a car loan. You pass if your salary can sustain the monthly repayments for the loan after setting aside money needed to cover all your monthly expenses. The budget calculator suggests the vehicle loan you should get. The calculator estimates that the monthly repayment on the loan should be approximately a third of your surplus money of the month.

Use the MFC finance calculator to estimate the cost of a loan, determine affordability and learn what your estimated monthly loan repayment will be. With this information, you will confidently approach dealers like Avo Auto for a new or used car of a specific amount. Window shopping for cars is easier using the price of what you are looking for.


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Job is a seasoned writer with a good understanding of the emerging markets, Africa to be specific.