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Car Loan Calculator

AustraliaScheduled modelClass A · deterministic arithmeticNo statutory rules requiredMethodology
AUD
Enter the annual rate as a percentage, like 5.99.

Repay interest only for the first years, then principal and interest.

A lump owed at the end of the term. It lowers the repayment but not the total cost.

AUD

Optional what-if. Leave empty for the contracted repayment only.

AUD
Fees

Blank means no fee, which reproduces the fee-free result above.

Charged once at settlement. It is added to the total cost, not to the repayment.

AUD

Charged alongside every repayment. It raises the total cost and does not reduce the balance.

AUD
Compare a second offer

Same borrowed amount and repayment frequency; only the rate, term and fees change.

Runs the same engine a second time and shows the difference in total cost.

Enter the loan to see repayments, total interest and the schedule.

Summary

Enter the loan amount, rate and term to see the repayment and the working behind it.

Working

  1. periodic rate = annual rate ÷ periods per year (52 weekly, 26 fortnightly, 12 monthly)
  2. payment = (principal − balloon ÷ (1 + i)ⁿ) × i ÷ (1 − (1 + i)⁻ⁿ)
  3. each period: interest = opening balance × i, principal part = payment + extra − interest
  4. closing balance = opening balance − principal part, rounded to the cent
  5. account fees are added to the total paid and never reduce the balance
  6. the final payment is adjusted so the closing balance is exactly zero

Assumptions

  • The rate is fixed for the whole term; rate changes are not modelled here.
  • Repayments are made in full and on time, on a regular cycle from the first repayment date.
  • Fees are the amounts you enter, not published rates. The establishment fee is treated as payable at settlement.
  • Interest is charged on the payment-period balance, not accrued daily.

Limitations

  • Redraw, offset, honeymoon and introductory rates, and lender-specific fee waivers are not modelled.
  • Comparison rates published by lenders use a different statutory basis and are not reproduced here.
  • Result accuracy class A: deterministic arithmetic on the figures you enter.