Understand what your car could really cost.
Estimate your monthly car loan repayment, total interest and overall borrowing cost based on the vehicle price, deposit, interest rate and repayment term. Adjust the figures to explore different financing scenarios.
Vehicle finance
See how your deposit, loan amount and repayment term can affect the cost of financing a car.
Calculate your estimated car loan repayment.
Enter the vehicle price, deposit, interest rate and loan term to estimate your monthly payment, total interest and total amount repayable. Results appear only after you calculate.
Car finance details
Use your own figures for a personalised estimate.
Car loan estimate
Enter your figures to see the estimated repayment and total cost of your car finance.
What does a car loan actually cost?
A car loan allows you to spread the cost of a vehicle over a period of time rather than paying the full price upfront. Your regular repayment generally covers part of the amount borrowed and the interest charged.
The amount you finance depends partly on the vehicle price and your deposit. A larger deposit generally means you borrow less, which can reduce the amount on which interest is charged.
The interest rate also affects the cost of borrowing. When comparing finance options, consider the annual rate and the wider cost of the agreement rather than looking only at the monthly payment.
The repayment term matters as well. A longer term can make the monthly payment more manageable, but interest may be charged for a longer period.
This calculator provides an estimate using the figures you enter. Actual car finance may differ because of fees, APR, lender terms, deposits, taxes and the specific finance structure.
What affects your car loan cost?
Several factors can change the monthly repayment and overall amount you pay for vehicle finance.
Car Price
The vehicle price determines the starting point for your borrowing. A higher purchase price generally means more financing is required.
Deposit
A deposit reduces the amount you need to borrow. A larger deposit can therefore reduce the financed balance and potentially the interest cost.
Interest Rate
The interest rate influences how much you pay for borrowing. Comparing rates can make a meaningful difference over longer terms.
Loan Term
The term determines how long repayments continue. A longer term can reduce each payment but may increase the total interest paid.
APR
APR can provide a broader indication of borrowing cost because it may account for certain fees as well as the interest rate.
Finance Fees
Arrangement fees and other charges can affect the overall cost of vehicle finance and should be checked in the agreement.
Don't choose a car loan based only on the monthly payment.
A low monthly payment can sometimes be achieved by extending the repayment period. Before choosing a finance option, understand what you could pay overall.
Financing a new or used car?
The right comparison depends on more than the purchase price. Think about the vehicle, finance terms, running costs and how long you expect to keep the car.
Consider the full purchase package.
New vehicles can come with different finance offers, warranties and manufacturer incentives. Compare the finance cost alongside the vehicle price and any additional charges.
Look at age, condition and finance cost.
Used vehicles may have a lower purchase price, but the available finance rate, vehicle age, mileage and condition can all influence the overall decision.
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Car Loan Calculator FAQs
Answers to common questions about car loans, deposits, interest rates and vehicle finance.
Know your car finance. Understand the real cost.
Use your own vehicle price, deposit, interest rate and loan term to explore different car finance scenarios.