Car Loan Calculator Australia

See each car loan payment, the lender’s total interest charge and the full amount you will repay.

Estimated car loan repayments

Monthly repayment
$0.00
Total interest
$0.00
Total loan cost
$0.00

Estimate assumes the rate stays the same and excludes fees and any final balloon payment (a large last payment).

What is a car loan calculator?

This Car Loan Calculator Australia uses the standard amortisation formula to estimate regular repayments on a vehicle loan. It also shows total interest and total repayments across the selected term.

How to use the car loan calculator

  1. Enter the amount financed after any deposit or trade-in.
  2. Add the annual interest rate.
  3. Choose the term in years.
  4. Select monthly, fortnightly or weekly repayments.
  5. Compare the payment with total interest and cost.

Car loan formula

The calculation uses the same principal-and-interest amortisation formula as the Mortgage Repayment Calculator Australia. Each payment covers interest on the outstanding balance and reduces principal.

Worked example: $35,000 at 8% for five years

With monthly repayments, the standard formula produces a payment of about $709.67 per month. Across 60 payments, total repayments are about $42,580 and total interest is about $7,580, before fees.

Australian car loan tips

  • Compare the comparison rate, not only the headline rate, because eligible fees are reflected in it.
  • Check whether a balloon or residual payment applies.
  • Budget for registration, insurance, servicing and fuel as well as finance.
  • Test a shorter term to see the trade-off between higher payments and lower interest.

Secured vs unsecured car loans

A secured car loan uses the vehicle as security and may offer a lower rate, but the lender can have rights over the vehicle after a default. An unsecured personal loan does not use the car as security, but can have a higher rate or different approval rules.

Disclaimer: the estimate excludes establishment, account and early-exit fees, broker charges, add-on products and balloon payments. A lender’s calculation can differ.

Frequently asked questions

What is a comparison rate?

It combines the interest rate with certain fees for a standardised loan example, making offers easier to compare. It may not include every cost.

Does a longer term reduce the cost?

It usually reduces each repayment but can increase total interest because the balance remains outstanding longer.

Does this include a balloon payment?

No. Enter only a standard fully amortising loan.

Can I use it for a used car?

Yes, provided you enter the actual amount, rate and term offered for that vehicle.

Compare the whole loan cost

Do not judge finance by the periodic repayment alone. Review total interest, fees, any balloon and the vehicle’s running costs before choosing a loan.