Estimate your weekly, fortnightly, or monthly repayments instantly. Adjust amount, rate, term, and balloon to see exactly what your loan will cost.
Drag the sliders to see your estimated repayments update in real time
* Estimates only. Actual rates depend on your credit profile and lender.
What the numbers mean, and how to get the best outcome for your situation.
Choosing a 3-year term instead of 5 years could save thousands in interest — but your monthly repayments will be higher. Use the calculator to find your balance.
A balloon (residual) payment reduces your monthly repayments now, but you'll owe a lump sum at the end. Some use this to manage cash flow, others prefer to own the asset outright.
Even a 1% difference in interest rate can mean thousands of dollars over a 5-year loan. This is exactly why comparing 30+ lenders with a broker is so valuable.
Getting pre-approved doesn't commit you to anything — it just tells you exactly what you can afford before you shop. And it won't affect your credit score.
Already have a loan? If your rate is higher than what's currently available, refinancing could reduce your repayments significantly. Run the numbers here first.
The calculator provides indicative figures. Your actual rate will depend on your credit profile, lender, vehicle type, and loan amount. Get a personalised quote for real numbers.
Your rate isn't random — understanding these factors helps you get the best deal.
Understanding the maths behind your repayments helps you make smarter borrowing decisions.
Loan repayments in Australia are calculated using a standard amortisation formula that spreads the principal and interest evenly across every payment period over the life of the loan. The core calculation takes three inputs — the loan amount (principal), the annual interest rate, and the loan term — and converts them into a fixed regular repayment that pays the loan off in full by the end of the term.
The formula behind most Australian personal, car and business loans is the standard amortisation calculation. Each repayment is split between interest charged on the outstanding balance and a portion that reduces the principal. In the early stages of a loan, a larger share of each repayment goes toward interest because the outstanding balance is at its highest. As the principal reduces over time, the interest portion of each repayment shrinks and the principal portion grows, until the loan is fully repaid. This is why many borrowers are surprised to see how little principal they've paid off in the first year — it's a normal feature of amortising loans, not a hidden fee.
The frequency you choose — weekly, fortnightly or monthly — also affects the total interest you pay. Because interest is calculated daily on the outstanding balance, making more frequent repayments reduces the principal sooner, which means slightly less interest accrues over the life of the loan. Many borrowers also find that fortnightly or weekly repayments align better with their pay cycle, making budget management easier.
A balloon (residual) payment changes the calculation by deferring a lump sum to the end of the term. This reduces the principal that is amortised across your regular repayments, lowering each payment — but the balloon itself remains owing at maturity. It can be paid in cash, refinanced into a new loan, or (for vehicles) often covered by the trade-in value when you upgrade.
It's important to remember that calculator results are estimates only. Your actual rate and repayments depend on your credit profile, the lender, the asset being financed, any fees capitalised into the loan, and the loan structure your broker recommends. For real numbers tailored to your situation, request a free quote with one of our brokers — there's no credit impact and no obligation.
Everything you need to know about how the calculator works and what affects your repayments.
Free quote in minutes. No credit impact. 30+ lenders compared. Real rates, real brokers, real results.
This car loan repayment calculator is intended as a guide only. Results are illustrative purposes only and are based on the loan amount, interest rate ranges, and loan term you enter — they do not account for your individual financial situation, eligibility, or the fees and charges a specific lender may apply. The figures shown should not be relied on for the purpose of making a final borrowing decision. Actual repayments, rates and approval depend on an assessment by the lender, including your credit history and circumstances. Drive Select Finance is not a credit provider; we compare options from lenders holding their own Australian Credit Licence.