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Car Loan Calculator

Calculate your car loan repayments in seconds with our easy-to-use calculator and compare over 40 lenders

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Car Loan Repayments Calculator

$10,000$500,000
1 year7 years
Payment Frequency
Weekly repayments*

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Total repayments

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Total interest

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*Estimate only and should not be relied on as true indication of your loan repayments, or a quote or indication of pre-qualification for any loan products. Based on loan amount and interest rate provided.

Get accurate loan estimates instantly

Planning to buy your next car? Our comprehensive car loan calculator helps you understand exactly what your repayments will be before you commit to any loan. 

Why use our calculator?

  • Completely free - No hidden costs or signup requirements
  • Instant results - See your repayments in real-time as you adjust the numbers
  • Multiple scenarios - Compare weekly, fortnightly, or monthly payment options
  • Australian-focused - Built specifically for the Australian car loan market

Our free calculator is just the first step in your car buying journey. Once you know what you can afford, browse our comparison of 40+ Australian lenders to find the loan that’s right for you.

With competitive rates, flexible terms, and expert guidance available when you need it, we’re here to make your car financing experience as smooth as possible.

How our car loan calculator works

We help you find the best deal on a car loan in 5 simple steps:

Step 1: Enter your loan details

Input the car's price, your deposit amount (if any), and your preferred loan term. Don't worry if you're not sure about exact figures - you can easily adjust them to see how different amounts affect your repayments.

Step 2: Set your interest rate

If you already have a rate in mind, enter it here. If not, our calculator will show you typical rates based on current market conditions. Remember, your actual rate may vary based on your credit history and the lender you choose.

Step 3: Choose your loan term

Select whether you'd prefer weekly, fortnightly, or monthly repayments. Many Australians find that more frequent payments help them budget better and can reduce the total interest paid over the loan term.

Step 4: Review your results

See your estimated repayments, total interest costs, and the overall cost of your loan. Use this information to determine what's comfortable for your budget.

Step 5: Compare and apply

Ready to move forward? Compare actual loan offers from our panel of 40+ lenders and apply for the one that best suits your needs.

Understanding your car loan options

Secured vs unsecured car loans
Secured car loans use the vehicle as security, typically offering lower interest rates but with the risk that the lender can repossess the car if you default. Unsecured loans don’t require the car as security but usually come with higher rates.


New vs used car financing
New cars often qualify for the lowest interest rates, sometimes with special promotional offers from manufacturers. Used cars may have slightly higher rates, and very old vehicles (typically over 7-10 years) might not be eligible for standard car loans.


Fixed vs variable rates
Most car loans in Australia offer fixed interest rates, meaning your repayments stay the same throughout the loan term. This makes budgeting easier and protects you from rate rises

Smart strategies to reduce your car loan costs

Make a larger deposit
Every dollar you put down reduces the amount you need to borrow. A deposit of 10-20% can significantly lower your repayments and reduce the total interest you’ll pay.

Choose the right loan term
Shorter loan terms mean higher repayments but less interest overall. Longer terms reduce your monthly payments but cost more in total interest. Our calculator helps you find the sweet spot for your budget.

Consider extra repayments
If your loan allows extra repayments without penalties, paying even $50-100 extra per month can shave years off your loan and save thousands in interest.

Shop around for the best rate
Interest rates can vary significantly between lenders. Even a difference of 1% can save you hundreds or thousands of dollars over the loan term.

What affects your car loan interest rate?

Your credit score
A higher credit score demonstrates to lenders that you’re a reliable borrower, often resulting in better interest rates. If your score needs improvement, consider waiting a few months while you work on it.

The car’s age and value
Newer, more expensive cars typically qualify for lower rates because they hold their value better, providing better security for the lender.

Your employment and income stability
Lenders prefer borrowers with stable employment and sufficient income to comfortably make repayments. Having a permanent job or long-term contract work in your favour.

Loan-to-value ratio
If you’re borrowing close to 100% of the car’s value, you may face higher rates than someone borrowing 70-80% of the value.

Budgeting beyond your loan repayments

Ongoing vehicle costs to consider

Your loan repayment is just one part of car ownership costs. Budget for:

  • Registration and insurance - Typically $1,000-$2,500 annually depending on your state and coverage level
  • Fuel costs - Can range from $30-$150+ per week depending on your driving habits and fuel efficiency, will be significantly less for hybrid and battery electric vehicles
  • Maintenance and repairs - Budget $1,500-$3,000 annually for services, tyres, and unexpected repairs – though HEVs and BEVs will require less maintenance per km driven than an equivalent internal combustion engine vehicle
  • Depreciation - New cars lose value rapidly in the first few years: it will lose 20% of its value when you drive it home from the dealership!

Types of car loans available in Australia

We offer loans from Australia’s top 40 lenders, banks, and credit unions – calculate your loan, compare, and apply right here!

Traditional bank loans
Major banks like Commonwealth Bank, ANZ, Westpac, and NAB offer competitive car loan rates, especially for existing customers. They typically provide reliable service and established loan processes.
Often offering more personalised service and competitive rates, credit unions can be excellent options for car financing. Many have specific programs for different professions or geographic areas.
Specialist car loan providers often focus solely on vehicle financing, potentially offering more flexible terms or faster approval processes.
While convenient, dealer financing isn’t always the cheapest option. It’s worth comparing rates before accepting dealer offers, though some manufacturers provide attractive promotional rates.

Common car loan mistakes to avoid

Not shopping around
The first loan offer you receive may not be the best. Comparing multiple lenders can save you significant money over the loan term.

Borrowing more than you need
It’s tempting to upgrade to a more expensive car when you qualify for a larger loan, but this increases your repayments and total interest costs.

Ignoring fees and charges
Application fees, ongoing fees, and early repayment penalties can add hundreds to your loan costs. Factor these into your comparison.

Not reading the fine print
Understand your loan’s terms, including whether you can make extra repayments, what happens if you miss a payment, and any restrictions on the vehicle.

Frequently asked questions

Find clear answers to the most frequently asked questions about car loans

Most lenders offer car loans from $5,000 to $150,000, though some may go higher for luxury vehicles. Your borrowing capacity depends on your income, expenses, credit history, and the vehicle’s value.
Car loan terms typically range from 1 to 7 years, with 5 years being the most common choice. Shorter terms mean higher repayments but less interest, while longer terms reduce monthly costs but increase total interest.
While not always required, a deposit of 10-20% can help you secure better interest rates and reduce your loan amount. Some lenders offer 100% financing, but this usually comes with higher rates.
Yes, though your options may be limited and rates higher. Some lenders specialise in helping people with poor credit histories. Consider improving your credit score before applying if possible.
Typically, you’ll need proof of identity, income verification (payslips or tax returns), bank statements, and details about the vehicle you’re purchasing. Some lenders may require additional documentation.
Many car loans allow early repayments without penalties, but some may charge fees. Check your loan terms before making extra payments, as this can save significant interest over time.
Contact your lender immediately if you’re having trouble with repayments. Many offer hardship programs or payment holidays. Ignoring the problem can lead to default and vehicle repossession.
Pre-approval gives you a clear budget when shopping and can strengthen your negotiating position with dealers. It also helps you understand what you can afford before falling in love with an expensive car.
A comparison rate is an essential tool when comparing loans, as it combines the interest rate with most upfront and ongoing fees to give you a clearer picture of the true cost of a loan. It’s expressed as a single percentage, helping you understand the total cost beyond just the advertised interest rate. However, keep in mind that it may not include all fees, such as late payment charges or redraw fees, so it’s still important to read the fine print and consider your personal financial situation.

Ready to find your perfect car loan?

Our free calculator is just the first step in your car buying journey. Once you know what you can afford, browse our comparison of 40+ Australian lenders to find the loan that’s right for you.

With competitive rates, flexible terms, and expert guidance available when you need it, we’re here to make your car financing experience as smooth as possible.

Use our free car loan calculator