Car loan repayment calculator

Find out how much you will pay on your car loan with our calculator.

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When you're planning on taking out a car loan, it's important you understand how much you can afford to borrow. Understanding your borrowing limits will help make sure you get the loan that is right for you and avoid costly interest repayments.
Calculate how much you can borrow and compare car loans below.

Loans.com.au - New Car Loan

Loans.com.au - New Car Loan

From

4.99 % p.a.

fixed rate

From

5.54 % p.a.

comparison rate

  • Early payout available
  • No monthly ongoing fee
  • Borrow up to $100,000
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100% confidential application

Loans.com.au - New Car Loan

A competitive fixed rate to purchase a car up to four years old. Option to add on-road costs into loan amount.

  • Interest rate: 4.99% p.a.
  • Comparison rate: 5.54% p.a.
  • Interest rate type: Fixed
  • Application fee: $400
  • Minimum loan amount: $5,000
  • Maximum loan amount: $100,000
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Compare car loan repayments in the table

Updated August 18th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
From 4.99% (fixed)
5.54%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.99% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.
5.49% (fixed)
5.84%
$2,000
1 to 7 years
$250
$0
You'll receive a fixed rate of 5.49% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.
5.69% (fixed)
5.97%
$25,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
6.99% (fixed)
8.1%
$5,000
1 to 7 years
$295
$10
You'll receive a fixed rate of 6.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.
From 5.34% (fixed)
6.6%
$7,500
1 to 7 years
$459.20 (for private seller vehicles this fee is $608)
$8.90
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $150,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
From 5.99% (fixed)
6.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees. Note: Product only available to residents of Victoria.
8.49% (fixed)
9.67%
$10,000
1 to 7 years
$250
$12
You'll receive a fixed rate of 8.49% p.a.
Finance a new or used car and benefit from convenient features for car buyers including a car search tool and the option to borrow extra for on-road costs.
From 5.71% (fixed)
6.57%
$1,000
1 to 7 years
$100 (from $100 to $500)
$10
You'll receive a fixed rate between 5.71% p.a. and 8.66% p.a. based on your personal credit history
A flexible loan to help you finance a car, motorbike or boat up to five years old.
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$200
$10
You'll receive a variable rate from 7.99% p.a.
Apply for up to $75,000 and benefit from features such as fast approval, free online redraws and no penalties for early repayment.
From 7.17% (variable)
8.47%
$10,000
1 year to 35 months
$526 ($520 + $6 PPSR)
$8.25
You'll receive a fixed rate from 7.17% p.a. based on your risk profile.
Get funding for a new or used car and access to Macquarie’s car-buying service. Click the information symbol for important disclaimers.
6.45% (variable)
6.59%
$10,000
1 to 7 years
$100
$0
You'll receive a variable rate of 6.45% p.a.
Finance 100% of the purchase price of a new or used car up to 3 years old with a loan starting from $10,000
From 5.99% (fixed)
6.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.99% p. a.
Purchase a new car with this loan and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
6.69% (fixed)
7.04%
$2,000
1 to 5 years
$250
$0
You'll receive a fixed rate of 6.69% p.a.
Benefit from this competitive rate by securing the loan with a vehicle up to 6 years old. Use this flexible loan for any purpose.
From 12.99% (fixed)
14.2%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 12.99% p.a. and 28.99% p.a. based on your risk profile
Lock in a competitive variable rate when you offer security. Loan can be used for any purpose and repayments are flexible.
From 6.25% (fixed)
6.95%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.25% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
From 4.79% (fixed)
5.34%
$10,000
1 to 7 years
$400
$0
You'll receive a fixed rate of 4.79% p.a. with a comparison rate of 5.34% p.a.
Get access to over 20 providers to fund a new or used car.

Compare up to 4 providers

Enter the details of a loan below to calculate repayments

The table below features an automatic payment calculator. Simply pop your details in and you'll be able to

How do I use the car loan repayment calculator?

Don't let the graph put you off, the car loan repayment calculator is easy to use. Just follow these simple steps:

  1. Enter your total loan amount. If you aren't sure of this amount just yet, enter an amount you think will be sufficient to finance your car.
  2. Enter your purchase rate. Use the comparison rate of the car loan to more accurately determine your repayments.
  3. Enter the loan term. The shorter the term the more your repayments will be, but the more you will save on interest. You should check the loan terms offered by the different loans you are looking at to make sure you are able to choose the terms you want.
  4. Set your repayment frequency. You will need to check the options offered by the loan you are looking at, as not all lenders offer every type of repayment frequency. If you are able to choose the frequency, you should try and match it to when you get paid ie. monthly pay, monthly repayments.
  5. Choose your repayment type. Principal and interest repayments refer to you making repayments which go towards both the amount you borrow and the interest charged on that amount. Interest-only repayments involve you only paying the interest which is charged on the loan amount, so you don't actually pay any of your loan off. If you are unsure, you should select the principal and interest option.

How to use the car loan calculator to help you save

Now you've got the basics of how to use the car loan repayment calculator, it's time to learn how to really use the calculator. Let's say Jane is looking at taking out a $5,000 car loan at an interest rate of 7.80% p.a. for a five year loan term. She's planning to make monthly principal and interest repayments for the duration of her loan.

Here's what the car loan calculator tells Jane her repayments will be:

How to use the car loan calculator step 1

Jane will be making a monthly repayment of just over $100 and incur $1,054.24 in interest payments over the life of her loan. Jane decides that she can afford to put more than $100.90 a month towards her car and she wants to save herself some money on interest.

Here's what happens when she tweaks her loan term in the car loan calculator:

How to use the car loan calculator step 2

As you can see, by choosing a four year loan term instead of a five year loan term, Jane only increases her repayments by about $20 a month (only $5 extra a week) and she saves herself $217.64 over the life of the loan. Not to mention she pays off her loan one year earlier.

After using the car loan calculator and getting that result, Jane decides that she wants to reduce her repayments and also save herself money on interest. Have a look at what happens when she decides to make weekly repayments instead of monthly:

How to use the car loan calculator step 3

By making her repayments weekly instead of monthly, Jane saves herself $2.40 a week and $12.39 over the life of her loan. Not much, but it's something.

Like Jane, see how much money you can save on your loan by using the car loan calculator. If you want to compare your car loan options, you can use the table below.

How do I choose a car loan?

When deciding which car loan meets your needs, it’s handy to use a car loan repayment calculator to help you figure out what you will need to pay. However, this isn’t all you need to consider as some lenders have age criteria that you have to meet as well as financial requirements. It’s important to be aware of these factors before doing the research on the loan – getting to the end and realising you don’t meet the requirements could be a real disappointment.

Something else to consider are the fees that go with a each car loan. Some lenders have late fees and monthly fees as well as interest rate charges. These vary from lender to lender, so calculating which fees you can handle and which are too much for your budget is something to consider before applying.

Special features should also be considered, such as the option to make early repayments without any extra cost and whether or not you’re allowed to use your loan for a used car. Factoring in the interest rate on the car loan is also important as this will impact how much your repayments are.

What are some things to consider before I apply for a car loan?

Although a car loan calculator takes a burden off your shoulders by figuring out what your potential repayments are going to be, it’s also important to factor in the following so you can decide whether the car loan you’ve chosen is right for you and your needs. Some of the things to consider include:

  • Loan terms. Most car loans are for one to seven years, but they vary from lender to lender. Once you calculated what car loan repayments you can afford, this will determine your loan term. You also have the option of lowering your repayments by selecting longer loan terms, which can be a good option if the loan also gives you the ability to repay it ahead of schedule if you’re able to.
  • Whether or not you’re buying a new or used car. While there are pros and cons for both, whether you are buying a new or a used car can impact which car loan you’re eligible for. Some lenders only want to supply loans for new cars and others supply loans for new or used, so consider your options before making a final decision.
  • Ability to get additional funds. Some car loans allow you to borrow additional funds within the loan to cover expenses such as registration and comprehensive car insurance. However, as this is not the case with all car loans. If this is something that you need to do in order to cover these expenses you could also take out an unsecured personal loan.
  • Affordability. Calculate your budget and whether or not you’re able to afford the loan repayments is a huge consideration in whether or not a loan is right for you. If you are unable to afford the repayments, this will impact your income, budget and your general living situation so it’s an important consideration.

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Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 5.49% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Latitude New and Used Car Loan
Latitude New and Used Car Loan

You'll receive a fixed rate of 6.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 5.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees. Note: Product only available to residents of Victoria.

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2 Responses

  1. Default Gravatar
    MayureshJanuary 3, 2019

    Hi,

    I have a car loan for last 2 years.. Paying high interest rate > 14%. Thinking of refinancing it. Will that be beneficial?

    Thanks

    • Avatarfinder Customer Care
      JohnJanuary 3, 2019Staff

      Hi Mayuresh,

      Thank you for reaching out to finder.

      Refinancing may be beneficial for you depending on the interest rate of the loan when it would be refinanced. You may want to check our page on car refinancing to learn more on the benefits as well as what you need to do to complete a refinancing. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

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