Provide a Calculator API to determine affordability and financial forecasting
The calculator should aim to show a the user what their cash position will be if they don’t make the purchase or make a an alternative one. e.g. If the person buys a 20 000$ car instead of a 30 000$ car over a 5 years period for x Interest.
alternate example is: instead of an installment of R5000 per month, a customer purchases a vehicle for R4000 per month and invests the other R1000. at the end of the 60 month term he has a vehicle and X deposit on another vehicle. also integrate to known depreciation models by vehicle make to include in savings calculator.
The Calulator will also be able to show you how much you could save on interest in your homeloan if you put the money you save on the buying the 20 000$ over the 30 000$ car into your bond.
It would be great to also have a "what if" functionality. This may be a combination of multiple APIs
The calculator can also provide users with different investment and savings opitons.this will inform the user of better options instead of just buying a vehicle. These options should include investments such as fixed deposits, shares, normal savings accounts, unit truts, tax free saving accounts, etc.
The calculator should aim to show a the user what their cash position will be if they don’t make the purchase or make a an alternative one. e.g. If the person buys a 20 000$ car instead of a 30 000$ car over a 5 years period for x% Interest