Car Loan Calculator

Car Loan Calculator helps you estimate your repayments. Learn more about Car Loans

Car Loan Calculator

Compare Car Loans.

Some great car loans are waiting to be discovered by you.

Car loans are simply personal loans used to finance your new car. Usually the car is used as collateral to secure the loan, giving the lender some assurance and yourself a lower rate - this is called a secured car loan. However you can also get an unsecured car loan which has a different structure to it.


Car loans can be compared on a number of levels, including:

The interest rate
Ongoing and application fees
Additional repayment and redraw options and fees.
Car loans are typically fast approval loans that can have you driving away in your new vehicle the same day as application. However, keep those impulses in check and do the research before you reach for those shiny keys.

How to choose the best car loan?

A car loan is a common and simple solution for most people who are buying a new or used car. But before you choose your car loan and sign the dotted line, make sure you have shopped around and investigated the other options available to you to ensure that you have found the best deal available.

Make sure that you don't rush into a decision and that you have considered these points which can save you on your repayments:

Interest rates - Your initial and probably final decision will be based on what the interest rate is. You are able to choose from a variable rate or fixed. If you are intending to pay off your debt as soon as possible or would like to make additional repayments a variable rate could be the best thing for you.

Having a fixed rate allows you to budget and means that your rate will be safe from any Reserve Bank rate rises that may occur.

auto loan calculator

Secured or unsecured - You will need to choose between a secured or unsecured loan. Price can creep up on you in this area. If a loan is secured this means that it will be tied to an asset, which can be repossessed if you fail to make your repayments. Unsecured loans are collateral free and therefore tend to have higher interest rates.

Hidden fees and charges - Read your product disclosure statement (PDS) and make sure there are no added fees that you're unaware of. This could include establishment fees, early repayment fees, annual fees or extra charges if you miss your payments.

How to choose a car loan

When choosing a car loan there are a few things you need to ask yourself:

How much would you like to borrow?

What is the age of the car? If it is a new car you will have to choose a new car loan, or if it much older you may have to look at applying for a used car loan; and
Over how many years would you like to take to pay the loan back?

Once you have this information you are ready to compare car loans by looking at loans with the lowest interest rates and fees. To own your dream car sooner, start comparing new and used car loans on our car loan home page today.