Car Loan Calculator
Estimate your car loan repayments before you apply. Adjust the loan amount, interest rate, and term to see how they affect your repayments.
Get a realistic picture of what you can afford.
Adjust Your Loan Details
The total amount you want to borrow
Rates vary based on credit history. Bad credit? Use 12-20%.
Longer terms = lower repayments but more interest
Optional lump sum due at the end. Commonly 20–40%.
One-off lender fee (if applicable)
Monthly account/service fee (if applicable)
Quick select term:
Repayment frequency:
Weekly/fortnightly figures use a simple rate conversion and may differ from lender calculations (including daily interest).
Your Estimated Repayments
Monthly Repayment (P&I)
$615.50
per month for 5 years
No impact to your credit score
Results are estimates only and not a quote. Calculations assume a fixed interest rate and equal repayments and exclude lender-specific fees/charges unless entered above. Weekly/fortnightly figures use a simplified conversion and may differ from lender calculations (including daily interest and rounding). If a balloon/residual is included, it is payable at the end of the term. This information is general in nature and not financial advice; consider your circumstances and seek independent advice where appropriate.
What Interest Rate Should I Use?
Good Credit
No defaults, stable income, clean credit history
Fair Credit
Some credit issues, older defaults, limited history
Bad Credit
Defaults, bankruptcy, low credit score
Not sure about your credit? Don't worry - we'll help you understand your options. Our initial quote process doesn't affect your credit score.
Tips for Lower Repayments
Save a deposit
Even 10-20% deposit can lower your rate and monthly payments. Plus, you borrow less.
Choose a shorter term
While monthly payments are higher, you pay significantly less interest overall.
Improve your credit
Pay down existing debts and ensure bills are paid on time before applying.
Consider a used car
Lower purchase price means smaller loan amount and lower repayments.
Frequently Asked Questions
How accurate is this car loan calculator?
This calculator provides an estimate based on the information you enter. Actual loan rates and terms may vary depending on your credit history, the lender, and the vehicle being financed. Use this as a guide and contact us for a personalised quote.
What interest rate should I use?
Car loan interest rates in Australia typically range from 5% to 20%, depending on your credit history. Good credit may get rates around 5-9%, fair credit 9-14%, and bad credit 14-20%. We can help you find the best rate for your situation.
Does the calculator include fees?
By default, the repayment is principal and interest only. You can add estimated establishment and ongoing fees to see the estimated total cost. Your actual repayments may still differ due to lender fees, daily interest, and rounding.
What loan term should I choose?
Shorter terms (3-4 years) mean higher repayments but less total interest. Longer terms (5-7 years) have lower repayments but cost more overall. Choose a term that balances affordable repayments with total cost.
Can I get a car loan with bad credit?
Yes. We specialise in bad credit car loans. While interest rates may be higher, we work with lenders who look at your current situation, not just your credit history. Use a higher rate (12-20%) in the calculator for a realistic estimate.
What is a balloon payment?
A balloon (or residual) is an optional lump sum due at the end of the loan. It reduces your regular repayments but usually increases the total interest paid. At the end, you can pay the balloon, refinance it, or trade in/sell the vehicle (depending on your loan and lender).
Explore Car Loan Options
Ready to Get Behind the Wheel?
Get a personalised car loan quote in minutes. We compare 40+ lenders including bad credit specialists to find the best option for you.
Apply Now(5 min application)No impact to your credit score for initial quote