
Get exclusive money-saving offers and guides
Straight to your inbox
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
This car lease calculator allows you to enter in specific loan information to find out repayment amount based on that information. This is a great tool for those who are looking to see what a future loan will cost them, but is also ideal for those who already have a car lease and are trying to better manage their repayments.
Further reading: Compare a range of car loans
The car lease calculator is quick and simple to use. All you have to do is enter information from your potential or current loan and you’ll get your repayment amount. To properly use the calculator you’ll need the loan amount, the loan term, the interest rate, and the repayment frequency.
If you’ve decided to have a residual or balloon payment on the back end of your car loan you’ll also need to enter that amount into the calculator. If you didn’t choose a residual or balloon payment you can leave that blank and it won’t affect the calculations. The final calculation will be as accurate as long as the information you enter in is accurate.
Jesse is looking to purchase his first car through a financier because he doesn’t have the capital to buy a vehicle outright. He wants to figure out what his repayment amounts will be before finalising his decision, so he turns to the car lease calculator for help.
He is looking for a $10,000 loan with a three-year loan term at 5% interest, and he wants to make monthly repayments. He decided against a residual or balloon payment, and so he’ll leave that field blank. He inputs the loan amount, the loan term, the interest rate, and his desired repayment frequency into the calculator and finds out that he’ll have to make monthly repayments of $271.33 plus $27.13 GST on this type of loan.
The car lease calculator is a great way to figure out your borrowing power before finalising a car loan. It’s also a simple and fast way to work out how to manage your current car loan. It can help you decide on the proper repayment frequency for you and also help you decide whether or not you’ll want to choose a residual/balloon payment.
If you’re looking to purchase a vehicle through a financier you can use the car lease calculator first to see what you can expect to make in repayments. You can also use the car lease calculator to compare loan providers in order to get the best deal possible.
Picture: Shutterstock
Lenders often give discounts to new borrowers, but not to loyal existing customers. Here's how to work out if you're being charged too much.
Do you have to tell your lender if you rent out a room and turn your mortgage into an investment loan?
Find the right vehicle for your circumstances with Georgie. Georgie is an Aussie car buying service dedicated to finding the best car for you, at a great price.
SPONSORED: Calculating the potential costs of a reverse mortgage can be tricky. We'll break it down step by step for you.
If you're looking for a premium, luxury or performance mid-size sedan, the C-Class has to be on your shortlist.
Plenti car loans offer competitive, personalised interest rates, as well as the choice to have your loan secured or unsecured. Find out more about Plenti's car loans here.
Driva offers personalised rates and lets you compare a range of lenders. Find the right car loan for you today.
You could save up to $19,000 on an ex-demo Lexus in the 2020 EOFY car sales.
As restrictions ease around Australia, finance expert Noel Whittaker goes through why you need a post-coronavirus plan for your money.
If you are thinking of deferring your loan repayments because of coronavirus, here are the conditions you need to know about.