Car loan calculator

The monthly repayment and the true cost — bank loan or asset finance — and what it adds to every working day.

Presets: CBK average bank lending rate (July 2026); asset finance at Watu’s 2.5% a month with Mogo-style fees (10% application + 2% processing, about $20 a month). Use the figures on your own offer letter.

Monthly repayment

KSh 27,940

for 48 months · about KSh 1,075 of every working day

Borrowed

Price less your deposit

KSh 1,015,000
Interest

Reducing balance

KSh 326,142
Fees

Upfront and monthly

KSh 20,300
Cost of the loan

Interest and fees together

KSh 346,442
The car costs you in all

Deposit + repayments + fees

KSh 1,796,442

Questions buyers ask

What is the interest rate on a car loan in Kenya?

Banks price car loans around their general lending rates: the Central Bank of Kenya’s average commercial bank lending rate was 14.39% a year in July 2026. Asset-finance and logbook lenders quote monthly rates — Mogo 2.1–2.6% a month and Watu 2.5% a month, before fees.

Is 2.5% a month the same as 30% a year?

Roughly, before fees — and fees push it higher. Mogo’s published all-in cost including fees is 4.28–5.43% a month. Always compare the total cost of the loan, not the headline rate.

How much deposit do I need for a car loan?

Asset-finance lenders publish how much of the car’s value they will lend: up to 75% at Mogo and 80% at Watu, so a deposit of 20–25% at least. Banks set their own limits; ask for it in writing.

Compare lenders in our guide: car loans in Kenya compared. Then check the car can carry the repayment with the daily amount calculator.