Finance Calculators
Auto Loan Calculator
Estimate your monthly car payment. Enter the loan amount, term in years, and annual interest rate to see your payment and total costs.
How It Works
Monthly Payment = P Γ [r(1+r)^n] Γ· [(1+r)^n β 1], where P = loan amount, r = monthly rate, n = months.
About This Calculator
What It Does
Estimate your monthly car payment including interest and all purchase costs. Enter the vehicle sale price, down payment, trade-in value, cash incentives, sales tax rate, fees, loan term, and interest rate. The calculator shows the monthly payment, total interest, total repayment, and a detailed cost breakdown including sales tax and fees. It also generates a full amortization schedule. Use it to compare different financing options β see how a larger down payment, trade-in, cash rebates, or shorter loan term affect your monthly payment and total vehicle cost.
Worked Example
Example 1 β Standard: A A$40,000 car with A$8,000 down (20%) and A$2,000 trade-in. Loan amount = A$30,000. At 6% over 5 years: monthly payment β A$580. Total interest β A$4,800. Example 2 β Shorter term: Same A$30,000 at 6% over 3 years: monthly β A$913. Total interest β A$2,860. Saving A$1,940. Example 3 β Cash incentives: A A$40,000 car with A$3,000 rebate, A$8,000 down. Loan = A$29,000. At 6%: monthly β A$561. Total interest β A$4,640.
Real-World Usage
Use before visiting a dealership to know what payment fits your budget. Compare financing offers from banks, credit unions, and dealer financing β credit unions often have the best rates. See how a larger down payment reduces your monthly cost and total interest. Use it to decide between buying new vs used (new has lower rates but higher price). Check whether the dealer's 0% financing is better than the cash rebate β the calculator helps compare the total cost.
Local Context
Australian car loans: secured vs unsecured. Secured loans have lower rates, typically 5-10%. Terms range 1-7 years. Dealership financing, bank loans, and specialist auto lenders compete. Novated leases through employers offer pre-tax salary packaging. ASIC regulates car loan disclosures. Comparison rates must include fees. GST is included in the vehicle price.
Last reviewed: March 2026.
This is an estimate only. Actual rates, terms, and tax rates depend on your location, credit score, lender, and vehicle type. Sales tax and fees are estimates β verify with your dealer and local tax authority.
Frequently Asked Questions
What are typical car loan rates in Australia?
Secured car loans in Australia range from 5-10%, while unsecured loans are higher at 8-15%. Comparison rates include fees β always check this, not just the headline interest rate.
Is it better to buy new or used in Australia?
New cars depreciate 15-25% in the first year. A 2-3 year old car offers the best value: most of the depreciation has happened but the car is still under manufacturer warranty.