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Car Loan Calculator

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Your Loan Summary
Competitive rate
Finance Amount
$30,000
Repayment
$565/mth
Total Interest
$3,900
Total Cost
$33,900

Repayment Schedule (First 12 Months)

Payment #Payment AmountPrincipalInterestBalance

How It Works

This calculator helps you understand the true cost of car financing. Enter your purchase price, deposit, and interest rate to see your monthly payments and total interest payable.

A balloon payment reduces your monthly repayments but requires a lump sum at the end of the loan term.

Tip: A larger deposit reduces your loan amount and saves you interest over the life of the loan.

Key Benefits

  • Instant repayment calculations
  • See total cost before committing
  • Compare with/without balloon payment
  • Understand interest breakdown
  • Plan your budget with confidence
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Disclaimer: This calculator provides estimates only and is not financial advice. Actual repayments may vary based on lender policies, additional fees, insurance requirements, and interest rate changes. Please consult with a qualified financial advisor for personalized advice.

Frequently Asked Questions

What are typical car loan rates in Australia?+

Car loan rates typically range from 5-12% depending on whether the loan is secured (using the car as collateral) or unsecured, new vs used vehicle, loan term, and your credit profile. Secured new car loans from banks start around 5-7%, while dealer finance can be 7-12%+.

Should I get a car loan from a bank or dealer?+

Banks and brokers often offer more competitive rates and greater transparency than dealer finance. Dealer finance can be convenient but may include hidden fees or inflated rates. Always compare at least 3 options before committing.

What loan term should I choose for a car loan?+

Common terms are 3-7 years. Shorter terms mean higher repayments but less total interest. Longer terms reduce repayments but cost more overall. A good rule is to match the loan term to the useful life of the car - avoid owing money on a car that's lost most of its value.

Important Disclaimer & Assumptions

Assumptions: Rates vary based on vehicle age, type, and your credit profile. Balloon payments reduce monthly costs but mean you still owe a lump sum at the end. Ensure you understand the total cost of the loan including any balloon.

General Disclaimer: This calculator is provided by Mortgage & Finance Advisory (Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328) for illustrative and educational purposes only. Results are estimates based on the information you provide and the assumptions listed above. They do not constitute financial advice, a loan offer, or a guarantee of any outcome.

Actual loan terms, interest rates, fees, government charges, and eligibility criteria will vary between lenders and depend on your individual circumstances. Interest rates used are for comparison purposes only and may not reflect current market rates.

We recommend seeking independent financial, legal, and tax advice before making any financial decisions. For personalised advice tailored to your situation, please book a free strategy call with our team.

© 2026 Mortgage & Finance Advisory. All rights reserved. ABN: 90 732 203 952 | Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328