Use the car loan calculator below to quickly estimate your car loan repayments on a car loan using the interest rate and loan term. Adjust the calculator to set your preferred repayment frequency, weekly repayments, fortnightly repayments or monthly repayments.

Please note that the calculations provided are not a quote or pre-approval. Your actual interest rate and repayment amount will depend on various factors, including all information that is provided by you in the assessment of your application.

Car loan repayment calculator

 

What does this car loan calculator do?

The car loan calculator gives you estimated repayments on a secured car loan based on the loan amount and the interest rate entered. With a car loan, or any unsecured personal loan you are required to pay back the principal amount borrowed plus any interest and fees associated with the loan. The calculator gives an estimate of repayments based on what you enter into the calculator.

It is important to remember that interest rates can change over time. With car loans, lenders will often provide a different interest rate depending on the age of the car. Generally, a brand new car will have a lower interest rate than a used car will.

Car loan interest rates

Other factors to consider when getting a car loan

It is not just the interest rate that you need to consider when comparing car loans. You should also consider other car loan features when comparing car loans, such as:

  • Can you make extra repayments on top of your regular repayments? If you can, are there any limitations or conditions?
  • Can you redraw on your loan?
  • Are there any upfront fees such as an establishment fee?
  • Are there any ongoing fees such as monthly fees or annual fees?
  • Is there a minimum or maximum amount you can borrow?
  • How long is the loan term?
  • Can it be a joint loan?
  • Are there any penalties of fees for paying out the loan early?

Pre-approval - if you get pre-approval you can car shop with confidence, knowing exactly what you can and can't afford.

Should I get a car loan?

You should always consider your personal circumstances and your financial situation when considering a loan of any type. If you would like to know more about personal loans you can speak with one of our Lending Specialists, enquire now.

Please seek professional advice when making an important financial decision. The information in this article is general in nature and does not constitute as personal advice.