Calculate your car loan repayments in AUD. Free, accurate, and easy to use.
A car loan repayment calculator is an essential financial tool for Australian drivers looking to purchase a vehicle. This free online calculator helps you understand the true cost of financing a car in Australia, including your monthly, fortnightly, or weekly repayments, total interest charges, and the overall cost of your loan.
When purchasing a car in Australia, whether it's a brand new vehicle or a quality used car, most Australians need to secure financing. Australian car loans typically range from $5,000 to $100,000 or more, with interest rates varying based on your credit history, the loan term, and whether you're buying a new or used vehicle. Interest rates for car loans in Australia typically range from 5% to 15% per annum, depending on various factors including your credit profile and the lender you choose.
Our car loan repayment calculator is specifically designed for the Australian market, providing calculations in Australian Dollars (AUD) and supporting the most common payment frequencies used in Australia: weekly, fortnightly, and monthly payments. The calculator uses the standard Australian amortization formula to calculate your repayments accurately, giving you a clear picture of how much you'll be paying over the life of your loan.
One of the key benefits of using a car loan calculator is that it allows you to experiment with different loan scenarios before visiting a dealership or applying for finance. You can adjust the loan amount, interest rate, and loan term to find a repayment schedule that fits your budget. Many Australians choose longer loan terms (5-7 years) to reduce their monthly repayments, while others opt for shorter terms (3-5 years) to save on total interest costs.
The calculator also helps you understand the impact of making extra repayments. In Australia, most car loans allow you to make additional repayments without penalty, which can significantly reduce your total interest cost and help you pay off your car loan faster. By entering optional extra repayments into the calculator, you can see how much you could save in interest over the life of the loan.
Whether you're comparing car loan offers from Australian banks, credit unions, or finance companies, using a comprehensive car loan repayment calculator helps you make an informed financial decision. Before committing to a car loan, it's essential to understand all the costs involved, including the loan amount, interest rate, loan term, and any additional fees. Our calculator provides a transparent view of your car loan repayments, empowering you to choose the financing option that best suits your financial situation and lifestyle.