An annualised rate can assist comparison, but the complete quote remains necessary. Do not invent an APR by multiplying a daily headline rate.
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
Presenting a rough multiplication as the provider's official APR.
Illustration only: cash received R2 000; three payments of R750; a separate required charge of R50. Total paid = 3 × R750 + R50 = R2 300. Difference from cash received = R2 300 − R2 000 = R300. This difference is not an annual interest rate. Include the charge only if it is outside the three payments; do not count it twice.
An annualised rate can assist comparison, but the complete quote remains necessary. Do not invent an APR by multiplying a daily headline rate.
The disclosed rate measure, fee list and repayment schedule.
Presenting a rough multiplication as the provider's official APR.
Locate the actual dated record for The disclosed rate measure. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
Locate the actual dated record for fee list and repayment schedule. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
Mark it as unresolved. Ask for that precise detail before choosing; do not substitute an advertised example for your own document.
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
Use the documents listed above. Check quoted amounts and dates in the original record; use the official reference links for the organisation’s guidance.
Use the written quote to separate cash received, scheduled payments and charges outside those payments. Keep a calculation with each quote.
Write down what you need to pay, what is already available and the remaining gap. For a purchase, keep the item price, delivery, installation and necessary extras separate. Use a dated quotation rather than an advertised starting price; record what that quotation includes.
Place two written quotes side by side using the same amount and payment dates. Record the money actually paid to you, each instalment, the total payable and charges outside the instalments. A smaller instalment alone does not answer which option costs less: the number of payments and separate charges also enter the calculation.
Mark each due date against the dates of your expected income and existing bills. Keep food, transport, utilities and current repayments visible in the same calendar. If two payments would use the same money, revise the amount or timing before proceeding. This worksheet helps organise your information; it does not determine approval or replace the provider’s assessment.
Once those details are clear, use the provider links to check the product and application route. Before submitting documents, confirm the official website and its privacy information. Before accepting a quote, resolve missing dates, unexplained fees and any required cover with the provider in writing. Keep the final quote and payment schedule so you can compare them with later statements.
Try your numbers before opening a provider website. This is an illustration, not a quote or an approval check.
The monthly model assumes a fixed nominal annual rate divided by 12, payments at the end of each month and fees paid separately rather than financed. The days model uses simple interest and a 365-day year. Neither model calculates APR or verifies legal rate limits. Required insurance, other charges, late payments, changing rates and provider-specific rounding are excluded unless you include the applicable amounts. Do not count a charge twice. Results are rounded for display; your agreement may use another calculation.
CFPB: explanation of amortisation (general concept, not South African rules)