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Car Loan Comparison Rate Calculator

Take the guesswork out of rates and terms when trying to secure a car loan with a comparison rate calculator.

You can use a car loan comparison rate calculator to help understand the actual amount you'll pay when you take out your car loan. Just enter all the relevant information and you'll get an estimation from the calculator. You can use the calculator if you already have a car loan and want to get a better idea of how much you're going to pay in the years you have left, or if you're comparing loans and want to see if you'll be able to afford it.

Start comparing a range of car loans right now

How to use the car loan comparison rate calculator?

To make the best use of this tool you will need to input data that is reflective of your needs, such as how often you will be making repayments. The rest of the information required is in regards to your loan.

When using the comparison rate calculator you will see some terms that you will want to familiarise yourself with first before beginning the comparison.

  • Loan amount.
    This will be the amount of money you are looking to borrow and will be the same for both loans you are comparing.
  • Loan terms.
    This reflects how long you want to take out the loan for. Most car loans offer terms from one to seven years for variable rate loans or one to five years for fixed rate loans.
  • Interest rate.
    This will be the annual interest rate being offered by each of the loans you are comparing. You can find a range of car loan interest rates in the table below.
  • Repayment frequency.
    This is a personal choice based on what works for your budget. For most loans, you can choose to make weekly, fortnightly or monthly repayments, but check that this is available for the loans you are comparing.
  • Upfront fees.
    The upfront fees are those you will pay to initiate the loan. These include application and establishment fees.
  • Ongoing fees.
    These are those monthly or yearly maintenance fees that are charged to some loans.

Case Study

We can use the example of an individual who is trying to secure $20,000 to purchase a new car in order to better understand how the calculator works. If the first loan they found were to advertise a 12% p.a. rate, with an upfront fee of $500 and monthly maintenance charges of $10, they would be making monthly repayments of $664 over the course of three years. The total amount of interest paid over that three-year period would be $4,774.

If you compare this loan to one with three-year loan terms, a $1,000 upfront fee, a $20 monthly fee and an interest rate of 10% p.a., you might assume that the lower rate will be cheaper. However, the car loan calculator shows that the better deal is actually the 12% p.a. loan. The lower fees make this loan $178 cheaper over the course of the three years despite the higher interest rate.

Use the calculator at the top of the table below

The comparison table below features a basic calculator you can use to get a rough idea of the repayments on a loan

Stratton Finance New Car Loan Offer

Stratton Finance New Car Loan


5.29 % p.a.

fixed rate


6.56 % p.a.

comparison rate

  • Rates from 5.29% p.a.
  • Loan terms 1-7 years
  • Fast approval
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100% confidential application

Stratton Finance New Car Loan Offer

Apply for Stratton Finance Car Loan for purchasing a new car and enjoy a great fixed interest rate.

  • Interest rate from: 5.29% p.a.
  • Comparison rate: 6.56% p.a.
  • Interest rate type: Fixed
  • Application fee: $459.20
  • Minimum loan amount: $18,000
  • Maximum loan amount: $100,000
Go to site

Compare some of the options available to apply for.

Rates last updated June 25th, 2018
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Stratton Finance New Car Loan
From 5.29% (fixed)
1 to 7 years
Apply for up to $100,000 and have up to 7 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.
IMB New Car Loan
5.99% (fixed)
1 to 7 years
Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.
Beyond Bank Low Rate Car Loan
From 5.69% (fixed)
1 to 7 years
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
Loans.com.au - New Car Loan
From 5.44% (fixed)
3 to 5 years
This car loan is for new cars and offers a low fixed rate and no ongoing fees.
Sydney CU Special Variable Car Loan
5.95% (variable)
1 to 7 years
Benefit from a flexible, variable rate to finance a car up to 3 years old with SCU.
RACV New Car Loans
From 5.99% (fixed)
1 to 7 years
A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.
Bank Australia Car Loan
6.45% (fixed)
1 to 7 years
A competitive rate and the ability to offset your car’s carbon emissions for the loan term.
Heritage Bank Car Loan
From 6.99% (fixed)
1 to 7 years
Apply for up to $100,000 to finance a new or used car at a competitive fixed rate.
Community First Credit Union New Car Loan - Variable
From 5.34% (variable)
1 to 7 years
Borrow up to $60,000 to purchase a new car or motorbike.
IMB Secured Personal Loan
6.89% (fixed)
1 to 5 years
All approved applicants can access this competitive rate and use the loan to finance a range of purposes. Loan amounts up to $60,000 available.
MyState Secured Personal Loan
From 7.99% (variable)
1 to 10 years
Apply for a loan up to $75,000 and benefit from loan terms up to 10 years. Your choice between secured or unsecured.

Compare up to 4 providers

Frequently asked questions

Are all the possible fees included in the loan comparison calculator?

There may be other fees associated with the loan that you will need to discuss with the bank or broker. These could include transaction or activation fees as well as exit fees.

How are repayment amounts calculated?

There are assumptions in this calculator that there are 12 months, 26 fortnights and 52 weeks in the year. To work out weekly or fortnightly repayments, your total yearly repayment amount would be divided by the appropriate number that matches the terms that you chose.

Why should I use the car loan calculator?

Even a short term car loan is a big financial commitment to make. A smart borrower will use all the resources available to compare the different loans that are being offered to them. The calculator is not able to make the decision for you, but it will give you a better idea of exactly how much money over the principal cost of the loan you are going to be paying along with the repayment amount.

Picture: Shutterstock

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Car Loan Offers

Important Information*
IMB New Car Loan

Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.

Stratton Finance New Car Loan

Apply for up to $100,000 and have up to 7 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.

Loans.com.au - New Car Loan

This car loan is for new cars and offers a low fixed rate and no ongoing fees.

Beyond Bank Low Rate Car Loan "Special Offer"

Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

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4 Responses

  1. Default Gravatar
    MichelleJuly 31, 2015

    I need to buy a new second hand car. I currently have a personal loan that I am paying off which I bought the car with. But not sure if I could afford another repayment.

    • finder Customer Care
      ElizabethAugust 3, 2015Staff

      Hi Michelle,

      Thanks for your question.

      Before applying for a car loan you need to consider whether you will be able to afford another repayment – if the answer is no or if you think you might struggle, then you should reconsider getting out the loan. If you decide you can afford another loan then you can compare your options on this page. Click through to the review pages to see if you are eligible, and when you’re ready to apply click ‘Go to Site’.

      I hope this has helped.



    • Default Gravatar
      MichelleAugust 4, 2015

      Could someone please give me call regarding a loan.

    • finder Customer Care
      MattAugust 4, 2015Staff

      Hi Michelle,

      You’ve come through to finder.com.au – an online comparison service, not an actual lender.

      To speak to a lender about any of the loans compared on the site, please click the Green ‘Go to Site’ button. You’ll be connected directly with the company you enquire with.

      Hope that helps.


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