Car Loan Repayment Calculator

See your monthly car loan repayment, total interest, and payoff time — for new or used vehicles.

Calculate monthly car loan repayments for new and used vehicles. See total interest, total cost, and payoff time. Free Australian car finance calculator.

01 —INPUTS

The purchase price of the car before deposit.

Cash deposit or trade-in value.

Comparison rate may be higher — check with lender.

Typically 1–7 years for car loans.

Optional. Leave empty or 0 for no balloon.

02 —RESULTS

Enter your loan details to see your monthly repayment.

This calculator works for both new and used car loans. If you are comparing new vs used, try entering different vehicle prices to see how the monthly repayment changes. Used cars are cheaper upfront but may attract a higher interest rate from some lenders.

A balloon payment is optional — leave it at zero for a standard fully-amortising loan. If you add a balloon, your monthly repayments drop but you will pay more total interest and need to settle the residual at the end of the term. Run a scenario with and without the balloon using our balloon payment calculator.

Common questions

What is the difference between a secured and unsecured car loan?
A secured car loan uses the vehicle as collateral, which usually gives you a lower interest rate. If you default, the lender can repossess the car. An unsecured car loan does not use the car as security, but the interest rate is generally higher and the loan term is often shorter.
How do balloon payments affect my car loan repayments?
A balloon payment is a lump sum due at the end of the loan term. By setting aside a portion of the loan as a balloon — typically 20% to 40% — your monthly repayments are lower because you are only paying down the non-balloon portion plus interest. However, the total interest paid over the loan is higher, and you must have the balloon amount available at the end of the term.
What deposit do I need for a car loan in Australia?
Most Australian lenders want at least 10% to 20% deposit. A trade-in vehicle counts toward your deposit. A larger deposit reduces the loan amount, which means lower monthly repayments and less total interest over the life of the loan.

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Last updated 6 May 2026 Tax year 2025-26

Data sources: ATO (ato.gov.au), Services Australia

This tool is general information only, not financial advice.

Reviewed by AusTax Tools Editorial Desk

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