Car Loan Calculator

Advertisement
Advertisement

Calculate the repayments on a car loan and see the total cost in interest over the term of the loan using our Car Loan Repayment Calculator. What is a car loan? A car loan is a secured personal loan taken out specifically for the purpose of purchasing a car, either for personal or business use.

Car Loan Repayment Calculator

 
Advertisement

The InfoChoice Car Loan Repayment Calculator helps you compare:

Types of repayments; Principal and Interest Repayments vs Interest Only Repayments.

Repayment Frequency: Monthly Loan Repayments vs Fortnightly vs Weekly.

Car Loan Types: Variable Car Loan vs Fixed Rate Car Loan vs Introductory Rate

Loan Periods: You can set your car loan period and compare loan periods from 1 to 7 years.

Loan Amounts: Enter the amount of the loan you wish to apply to compare interest charged.

The InfoChoice Car Loan Repayment Calculator does NOT take fees into account. Because of this, you may choose to enter a car loan’s comparison rate, instead of headline advertised loan rate. The comparison rate on a car loan takes into account the fees charged by that loan.

Using the calculator does not mean you will be eligible for a loan but could help you to compare car loans and find the best deal for you. You can enter the loan details of the loans you compare here to help you work the cheapest car loan option for your circumstances.

Fixed rate car loans give you certainty and make budgeting easier. You know what you have to pay and the length of time you have to pay it. Variable rate car loans may feature a great rate and flexible conditions but things can change, up or down. Introductory rate car loans can assist you with a great rate for the first few months or year but repayments will increase after that.

The frequency of your car loan repayments can make a significant difference to the amount of interest you pay over the life of your loan. Compare the interest charged on your loan when you choose Monthly, Weekly or Fortnightly repayments.

Comparing loan terms is easy with the loan period slider. A longer loan period may reduce your regular repayments but increase the total interest charged over the life of the loan. A shorter loan period (the total number of years you will take to repay the loan) may increase your repayments but lower the overall interest bill.

To get approved for a car loan, you need to ensure your loan repayments are affordable and within your budget.

Use the InfoChoice Budget Planner Calculator to create an ideal budget for you. Your budget should balance your income against all your living expenses including loan repayments.

Other Calculators

Stamp Duty Calculator : Calculate what your upfront or transfer costs are when buying property by using our Stamp Duty Calculator

Borrowing Power Calculator : Calculate the maximum loan amount you can borrow based on your income and expenses by using our How much can I borrow calculator

Home Loan Comparison Calculator : Calculate your home loan repayment options based on fixed vs variable home loan rates by using our Home Loan Comparison Calculator

Mortgage Extra Repayment Calculator : Calculate how quickly extra repayments can help pay off your home loan by using our Mortgage Extra Repayment Calculator

Lump Sum Repayment Calculator : Calculate how much lump sum payments on your mortgage can help you save by using our Lump Sum Repayment Calculator

Refinance Calculator : Calculate how much switching your home loan can help you save by using our Refinance Calculator

Split Loan Calculator : Calculate the benefits of having a split loan and experiment different split loan scenarios by using our Split Loan Calculator

Principal and Interest Calculator : Calculate the benefits of making principal payments off your mortgage by using our Principal and Interest Calculator

Where Can I Borrow Calculator : Calculate your affordability based on the property location by using our Where Can I Borrow Calculator

Savings Calculator : Calculate how much interest your savings account can help you earn by using our Savings Calculator

Budget Planner : Calculate your income and expenditure targets to help you reach your savings goals by using our Budget Planner

Term Deposit Calculator : Calculate how much interest your term deposit can help you earn by using our Term Deposit Calculator

Income Tax Calculator : Calculate how much income tax you would potentially pay based on your current income and how it compares to the previous year by using our Income Tax Calculator

Credit Card Calculator : Calculate how  long it will take to pay off your credit card by using our Credit Card Calculator

Personal Loan Repayment Calculator : Calculate how much your repayments would be based on the personal loan amount you're looking to borrow by using our Personal Loan Repayment Calculator

Business Financial Summary Calculator : Calculate your business's financial summary based on setup and running business costs by using our Business Financial Summary Calculator

Margin Lending Calculator : Calculate geared vs ungeared portfolio costs and returns by using our Margin Lending Calculator

Advertisement