What will my car loan cost?
Type in the car and the loan. Your repayment updates as you go.
$
$
%
How often you pay
Add fees or a balloon payment
$
Only if the lender adds set-up fees to the loan.
$
A lump sum you still owe on the last day.
You pay
Find my lowest rate
Example only, not a quote or offer of credit. Use the rate on your quote for a closer figure.
How it's worked out
Each payment is the same size. Part of it pays the interest on what you still owe, and the rest pays off the loan. Early on, more of each payment goes to interest. Near the end, almost all of it pays off the loan.
We use the standard formula lenders use: the amount you borrow, the interest rate split across each payment, and the number of payments. A balloon makes each payment smaller, but you still owe that lump sum on the last day.
Other calculators
Each one answers a single question about your loan.
Questions people ask
Weekly, fortnightly or monthly, does it change the cost?
A little. Paying more often means you owe less, sooner, so the interest is slightly lower. Switch between them above to see the difference.
Will a lender's figure match this?
It should be close, but it can differ a little. Lenders round differently, may add fees, and set the rate from your own situation.
What rate should I use?
Use the rate on your quote. If you do not have one yet, 12.95% is only an example, so change it. Rates differ between lenders, so it pays to compare.
Are fees included?
Only if you add them under "Add fees or a balloon payment". Ask any lender for the total cost of the loan so you can compare like with like.
What is a balloon payment?
A lump sum you pay at the end of the loan. It makes each payment smaller, but you still owe it, and you pay interest on it while you wait.
Can I pay the loan off early?
Often yes, but a lender can charge a fee for it. Read your contract first.
Does using this calculator affect my credit?
No. Nothing you type here is sent anywhere and we do not check your credit. Finding your lowest rate is a separate step that you choose.