Car loan repayment calculator

Use a car loan calculator to work out how much your loan repayments will cost you.

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Finder's car loan calculator can help you figure out your loan costs in minutes. Use the calculator below or compare some car loan rates first to see what a good rate looks like.

Car loan repayment calculator

Your loan details

Loan amount
$
Term
Repayment type
Interest rate
%
Interest only period
Payment frequency
Extra monthly repayments
$

Overview of your loan

Once the interest only period ends, your estimated repayments will be
(including extra )
Total loan repayments:
Total interest payable:
Compare car loans
By making extra monthly repayments of
Your loan term could reduce by:
You could pay less interest, saving:
Years remaining Principal remaining
Calculator Assumptions: The above calculations are worked out assuming you’re paying off a principal and interest loan where the interest rate remains the same over the life of the loan. The repayment amounts do not take into account any additional fees or charges that may be charged to your loan (e.g. application fees).
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. They are neither a quote nor a pre-qualification for a loan.

How to use this car loan calculator

  1. Enter your loan amount. Or put in an estimate if you don't know your exact loan amount.
  2. Enter your loan's interest rate. If you don't know the rate you can take one from the car loan table below.
  3. Enter your loan term. Car loan terms are usually between 1 and 7 years.
  4. Select your repayment frequency. You can choose monthly or fortnightly repayments.

You can also enter an amount for extra repayments if you are planning to pay off the loan early (and if your car loan allows it).

Example car loan repayment calculation

Picture not describedYou are looking to buy a $25,000 car. It's a new car and you're planning to borrow the entire amount with a secured car loan. You find a loan with an interest rate of 7%.

You enter your loan amount and interest rate into the calculator and choose a 3-year loan term. You get the following results:

  • Monthly repayment = $772
  • Total loan cost over 3 years = $27,790

Calculate your car loan repayments using actual car loan rates

For a simple way to calculate your repayments with real life car loans, just enter a loan amount and loan term in the table below. You can see monthly repayments for each loan in the last column on the right.

1 - 14 of 14
$
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Rate Type Application Fee Monthly Fee Monthly Repayment
loans.com.au - New - Variable Rate Special Variable, 3 - 7 Years, $5,000 - $150,000
loans.com.au - New - Variable Rate Special
6.44%
7.56%
Variable
$400
$8
You'll receive a variable rate of 6.44% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees.

Stratton Finance New Car Loan Fixed, 1 - 7 Years, $10,000 - $300,000
Stratton Finance New Car Loan
6.09%
to 18%
7.68%
to 19.61%
Fixed
$482
$8.90
You'll receive a fixed rate from 6.09% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Harmoney Car Loan Fixed, 3 - 7 Years, $2,000 - $70,000
Harmoney  Car Loan
5.76%
to 19.09%
6.55%
to 19.99%
Fixed
$275 - $575
$0
You'll receive a fixed rate between 5.76% p.a. and p.a. based on your risk profile
An unsecured loan from $2,000 to buy a new or used car. Benefit from a simple application and option for early payout.
RACV New Car Loans Fixed, 1 - 7 Years, $5,000 - $150,000
RACV New Car Loans
6.79%
to 16.54%
7.49%
to 17.31%
Fixed
$499
$0
You'll receive a fixed rate from 6.79% 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.
OurMoneyMarket Car Loan Fixed, 1 - 7 Years, $2,001 - $75,000
OurMoneyMarket Car Loan
6.57%
to 18.99%
7.19%
to 21.78%
Fixed
1.5% - 6%
min. $250
$0
NRMA New Car Loan Fixed, 1 - 7 Years, $5,000 - $130,000
NRMA New Car Loan
6.79%
to 16.54%
7.49%
to 17.31%
Fixed
$499
$0
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.09% p.a. and comparison rates from 5.78% p.a.)
loans.com.au - New - Fixed Rate Special Fixed, 3 - 7 Years, $5,000 - $150,000
loans.com.au - New - Fixed Rate Special
6.19%
7.31%
Fixed
$400
$8
You'll receive a fixed rate of 6.19% 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.

Stratton Finance Used Car Loan Fixed, 1 - 7 Years, $10,000 - $300,000
Stratton Finance Used Car Loan
7.04%
to 18%
8.63%
to 19.61%
Fixed
$482
$8.90
You'll receive a fixed rate loan from 7.04% p.a. with a comparison rate of 8.63% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
NRMA Used Car Loan Fixed, 1 - 7 Years, $5,000 - $130,000
NRMA Used Car Loan
8.04%
to 16.54%
8.75%
to 17.31%
Fixed
$499
$0
You'll receive a fixed rate from 8.04% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
RACV Used Car Loans Fixed, 1 - 7 Years, $5,000 - $150,000
RACV Used Car Loans
8.04%
to 16.54%
8.75%
to 17.31%
Fixed
$499
$0
You'll receive a fixed rate from 8.04% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
loans.com.au - Variable Rate Used Car < 3 years Variable, 3 - 7 Years, $5,000 - $150,000
loans.com.au - Variable Rate Used Car < 3 years
7.04%
8.16%
Variable
$400
$8
loans.com.au - Variable Rate Used Car < 5 years Variable, 3 - 7 Years, $5,000 - $150,000
loans.com.au - Variable Rate Used Car < 5 years
7.24%
8.36%
Variable
$400
$8
loans.com.au - Variable Rate Used Car Loan (6 to 7 years) Variable, 3 - 7 Years, $5,000 - $150,000
loans.com.au - Variable Rate Used Car Loan (6 to 7 years)
7.94%
9.05%
Variable
$400
$8
You'll get a variable rate of 7.94% p.a.
Borrow up to $150,000 for a used car for 6+ years, with no monthly fee.

loans.com.au - Variable Rate Used Car Loan (8+ years) Variable, 3 - 7 Years, $5,000 - $150,000
loans.com.au - Variable Rate Used Car Loan (8+ years)
11.84%
12.95%
Variable
$400
$8
You'll get a variable rate of 11.84% p.a.
Borrow up to $150,000 for a used car for 8+ years, with no monthly fee.

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Why compare car loan repayments with Finder?

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It's 100% free

You won't be charged for clicking through to one of our car finance partners. We get paid out of their pocket – not yours.

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We're here to help

We've helped thousands of Australians find a car loan by keeping things simple and free of complicated jargon.

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It's quick and easy to use

Our side-by-side car loan comparison makes it easy to find a car loan that is a good fit.

5 tips to reduce your car loan repayments

  1. Find a car loan with a lower interest rate. The lower the interest rate, the less interest you pay.
  2. Watch out for fees. Some lenders charge a one-off application fee and a smaller monthly fee.
  3. Adjust your loan term to suit your needs. A shorter loan term means your monthly repayments are higher but you pay less interest overall. A longer loan term means smaller monthly repayments. But because you'll have the loan for a longer time you end up paying more interest.
  4. Make extra repayments. If a car loan lets you make extra repayments you can pay it off early and reduce your overall costs.
  5. Improve your credit score. You can get a lower interest rate if you have a better credit score.

How your credit score affects your car loan costs Picture not described

Lenders set their interest rates based partly on your credit score. Having an excellent credit score (800 or above) means you can get a lower rate on your car loan. A lower score can result in a higher interest rate.

You can check your credit score quicky for free before you look at car loans. If your score is on the lower side, there are steps you can take to improve your credit score.

Car loan repayments - example calculations

We've run some simple calculations based on example car loans. This illustrates how your loan amount, loan term and the interest rate affect your loan repayments.

How the interest rate affects your car loan repayments

These 3 loans are identical except for the interest rate.

DetailsLoan 1Loan 2Loan 3
Loan amount$30,000$30,000$30,000
Interest rate7%9%12%
Loan term5 years5 years5 years
Monthly repayments$595$623$668
Total cost$35,643$37,366$40,041

How the loan term affects your car loan repayments

These 3 loans are identical except for the loan term.

DetailsLoan 1Loan 2Loan 3
Loan amount$30,000$30,000$30,000
Interest rate9%9%9%
Loan term3 years5 years7 years
Monthly repayments$954$623$483
Total cost$34,344$37,366$40,545

Hidden costs that can make your car loan more expensive

Speed

Early exit fees

Some lenders let you make extra repayments. But some actually charge you a fee for paying off the loan early. This is more common on fixed rate car loans.

You can check a loan's exit or early repayment fees before you apply.

Balloon

Balloon payments

Some lenders offer car loans with a balloon payment structure. This just means that your monthly repayments throughout the loan will be lower. But at the end of the loan term you'll have to pay off a large lump sum to fully pay off the loan.

This can be a nasty surprise if you don't understand how the balloon payment works.

Frequently asked questions

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