Car loan repayment calculator

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

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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.

Use our car loan repayment calculator on the table below to see what repayments will be on actual products from a range of lenders. You can also use our calculator tool and input your own loan information.

Loans.com.au - New Car Loan

Loans.com.au - New Car Loan

From

4.89 % p.a.

fixed rate

From

5.44 % p.a.

comparison rate

  • Early payout available
  • No monthly ongoing fee
  • Borrow up to $100,000
Security Logo

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: 4.89% p.a.
  • Comparison rate: 5.44% 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 January 28th, 2020
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New Car Loan
From 4.89% (fixed)
5.44%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.89% 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.
Credit Concierge Car Loan
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.

Stratton Finance New Car Loan
From 4.69% (fixed)
5.64%
$10,000
3 to 7 years
$700 (for private seller vehicles this fee is $608)
$9
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Wisr Secured Car Loan
From 5.19% (fixed)
6.08%
$5,000
3 to 7 years
$655 (Includes PPSR registration and private sale fee, if applicable)
$0
You'll receive a personalised interest rate from 5.19% p.a. to 16.49% p.a. based on your risk profile
A flexible car loan from $5,000 - $50,000 with personalised rates and rewards for strong credit customers.

Australian Military Bank Car Loan
From 5.71% (fixed)
6.57%
$1,000
1 to 7 years
$500 (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.
Latitude Personal Loan (Secured)
From 6.99% (fixed)
8.25%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 6.99% p.a. and 18.99% 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.
Westpac Car Loan
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.
St.George Secured Personal Loan - Fixed Rate
From 8.49% (fixed)
9.6%
$3,000
1 to 5 years
$195
$12
You'll receive a fixed rate from 8.49% p.a. based on the value of your car
Get a competitive rate and apply for a larger loan up to $80,000 when you attach a new or used car as security to the loan.

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 above.

Picture: Shutterstock

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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 5.45% 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 Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 5.49% 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 5.69% 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.

Logo for Stratton Finance New Car Loan
Stratton Finance New Car Loan

You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

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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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