Do the maths before the maths does you.
Put in a price and a rate to see the repayment. Then see what lenders would actually offer you.
An estimate from the rate you enter, not a quote. Australian Credit Licence 509582.
Loan Details
Not all assets are eligible for balloon payments. Maximum balloon percentage varies by lender and asset type. Speak to our team for specific options.
Estimated repayments
Monthly repayment
$601.14
Total interest
$6,068
Total repayment
$36,068
Important: This is an estimate only and does not include lender-based fees, establishment costs, or other charges that may apply.
We can provide a personalised quote down to the exact dollar figure, without any impact to your credit score.
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How to Use Our Car Loan Calculator
Our free car loan repayment calculator helps you estimate weekly, fortnightly, or monthly repayments before you commit to a loan. Simply enter your desired loan amount, select a term between one and seven years, and adjust the interest rate to see how your repayments change. You can also add a deposit amount and balloon payment percentage to model different finance structures.
Understanding Your Results
The calculator displays your estimated monthly repayment, total interest payable over the life of the loan, and the total amount you will repay including principal and interest. These figures are indicative only and based on a standard reducing-balance calculation. Your actual rate will depend on your credit profile, employment status, the age and type of asset being financed, and the lender selected by your broker.
Balloon Payments Explained
A balloon payment, also known as a residual value, is a lump sum due at the end of your loan term. Setting a balloon payment reduces your regular repayments but increases the total interest paid. Balloon payments are common in commercial finance arrangements such as chattel mortgages and are available on most consumer car loans. At the end of the term you can pay the balloon outright, refinance it into a new loan, or trade in the vehicle.
Factors That Affect Your Interest Rate
Australian car loan interest rates vary widely depending on several factors. Newer vehicles generally attract lower rates than older ones. Secured loans, where the vehicle acts as collateral, offer better rates than unsecured options. Your credit history, employment type, and loan-to-value ratio also play a significant role. As a finance broker, Simple Loans compares rates from over 50 banks and lenders to find the most competitive option for your situation.
Next Steps After Calculating
Once you have an estimate you are comfortable with, request a personalised quote from our team. We will assess your full financial picture and compare lenders on our panel that suit it. Submitting an enquiry does not itself create a hard credit enquiry; a lender may run one later, and we tell you before that happens. The whole process can be completed online.
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