Estimate your monthly car loan repayment, total interest, and full amortisation schedule.
Rates as of Q2 2025 (example)
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This calculator estimates your monthly car loan repayment, total interest, and full amortisation schedule based on the car's price, your deposit, any trade-in value, the interest rate, loan term, and any establishment fees - helping you understand the real cost of financing a car before you commit.
The loan amount is the car's price minus your deposit and trade-in value, plus any establishment fees, and this amount is repaid through equal monthly instalments using the standard loan amortisation formula.
Formula: Loan Amount = Car Price − Deposit − Trade-In Value + Fees. Monthly Repayment = [Loan Amount × Monthly Rate] ÷ [1 − 1 ÷ (1 + Monthly Rate)Months], where Monthly Rate = Annual Rate ÷ 12.
Example: An A$35,000 car with an A$5,000 deposit, no trade-in, and no fees gives a loan amount of A$30,000. At a 7.5% interest rate (example rate — enter your actual rate) over a 5-year term, the monthly repayment would be about A$601.14, with total interest of roughly A$6,068.31 over the life of the loan. (Note: this example is for illustration purposes only.)
When comparing car loans in Australia, pay close attention to the "comparison rate" displayed alongside the advertised interest rate - lenders are legally required to publish this under the National Consumer Credit Protection Act, and it incorporates most fees and charges into a single percentage, making it easier to compare the true cost of loans from different lenders even when their advertised rates and fee structures differ. Car loans are typically secured against the vehicle, meaning the lender can repossess the car if you default. New car prices generally already include GST (10%), so the price you negotiate is usually the GST-inclusive "drive-away" price; this calculator doesn't add GST separately since it's assumed to already be included in the car price you enter. Some car finance products for business use, such as chattel mortgages or novated leases, may include a balloon (residual) payment at the end of the term - this calculator assumes a standard fully-amortising loan with no balloon, so if your loan includes one, your actual repayments and total interest will differ from this estimate. Be aware that state and territory stamp duty on the vehicle's purchase is a separate cost from the loan itself, payable at the time of purchase/registration, and isn't included in this calculator.
The comparison rate is a standardised rate that Australian lenders must disclose alongside the advertised interest rate, incorporating most fees and charges into a single annual percentage. It allows you to compare the true cost of loans from different lenders, even when one has a lower advertised rate but higher fees - always check the comparison rate before choosing a loan.
No - this calculator assumes the car price you enter already includes GST, which is standard for new car "drive-away" pricing in Australia (GST is 10% and is built into the advertised price for private buyers). It doesn't add GST separately, so enter the actual price you'd pay, GST-inclusive.
A balloon (or residual) payment is a lump sum due at the end of a loan term, common in some business car finance products like chattel mortgages or novated leases - it lowers regular repayments but requires a large final payment or refinance. This calculator assumes a standard fully-amortising loan with no balloon, so if your finance includes one, your actual figures will differ - check with your lender for a tailored quote.
For personal car loans, interest generally isn't tax-deductible. However, if the vehicle is used for business purposes, a portion of the interest (and other running costs) may be deductible based on the business-use percentage - consult a registered tax agent or accountant about your specific situation, including options like novated leases which have different tax treatments.
A larger deposit directly reduces the loan amount, which reduces both your monthly repayment and the total interest charged over the life of the loan, since interest is calculated on the outstanding balance. Even a modest increase in deposit can meaningfully reduce total interest, especially over longer loan terms.
No - stamp duty (a state/territory tax on vehicle purchases, with rates varying by state and sometimes by the vehicle's value or type) and registration fees are separate costs paid at the time of purchase, not part of the loan amortisation. Some buyers choose to finance these costs as part of their loan by including them in "fees" or rolling them into the loan amount - if so, include them in your loan amount or fees field for a more accurate estimate.
Disclaimer: The information, rates, and figures provided on this page are for educational and illustrative purposes only and do not constitute financial advice. The interest rate used is an example only and does not represent a rate currently offered by any specific lender - actual rates, comparison rates, and fees depend on the lender, your creditworthiness, and the vehicle, and change frequently. Always compare the comparison rate (not just the advertised rate) across lenders and consult a qualified financial adviser for advice specific to your circumstances.