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
60 payments over 5 years
| Frequency | Repayment | Payments |
|---|---|---|
| Weekly | $138.45 | 260 |
| Fortnightly | $277.07 | 130 |
| Monthly | $601.14 | 60 |
Total interest
$6,068
Total repayment
$36,068
Important: This is an estimate only from the example rate you enter. It does not include lender fees, establishment costs or other charges, and it is not a comparison rate. Comparison rates may vary. See the comparison rate warning. Approval, rate and amount depend on the lender's assessment.
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 compare eligible options 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.
Car loan repayment examples by amount and term
Monthly repayment examples at a 7.5% p.a. example rate with no deposit, balloon or fees. The rate is an illustration to show how amount and term interact, not a rate we offer. A 7 year term lowers the repayment and raises the total interest. Comparison rates may vary, so see the comparison rate warning. Approval, rate and amount depend on the lender's assessment.
| Amount | 3 years | 5 years | 7 years |
|---|---|---|---|
| $10,000 | $311.06 | $200.38 | $153.38 |
| $20,000 | $622.12 | $400.76 | $306.77 |
| $30,000 | $933.19 | $601.14 | $460.15 |
| $40,000 | $1244.25 | $801.52 | $613.53 |
| $50,000 | $1555.31 | $1001.90 | $766.91 |
For one amount in detail, see the $10,000, $20,000, $30,000 and $50,000 car loan pages. ABN holders can test a balloon in the calculator above, or read about a chattel mortgage.
Car loan calculator questions
How do I calculate weekly or fortnightly car loan repayments?
Divide the annual rate by 52 for weekly or 26 for fortnightly, then work out the payment that clears the amount financed over that many payments. The calculator does this for you and shows weekly, fortnightly and monthly figures side by side. They are estimates from the example rate you enter, before fees.
Is a weekly repayment just the monthly repayment divided by four?
No. A year has 52 weeks but only 12 months, so dividing the monthly figure by four overstates the weekly amount slightly. Lenders work out each frequency from its own payment count, and the interest is charged more often, so the totals differ a little too.
Does a longer term lower my repayment?
It lowers each repayment, but you pay interest for longer, so the total interest is usually higher. Change the term in the calculator and watch both the repayment and the total interest move.
How does a balloon payment change the estimate?
A balloon leaves a lump sum owing at the end of the term, so the regular repayment is lower, and interest still runs on the balloon for the whole term. Enter a balloon percentage to see both effects. The balloon car loan calculator has a with and without comparison.
Is the calculator result a quote or an offer?
No. It is an estimate from the amount, rate and term you enter and leaves out fees and charges. The rate is an example you choose, not a rate we offer. Your actual rate and repayment depend on the lender's assessment, and the comparison rate shows the cost of a loan including most fees.
Can I use the calculator for an ABN or business car loan?
Yes for a rough repayment. A business loan can have different structures, such as a chattel mortgage with a balloon, and the tax treatment depends on your situation, so ask your accountant. Use the balloon field to test a residual.
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