Car Loan Calculator
- STRETCH YOUR BUDGET FURTHER BY TAILORING A CAR LOAN TO YOUR TERMS
- CONSIDER ADDING EXTRA REPAYMENTS TO SAVE BOTH TIME AND MONEY OVER THE COURSE OF YOUR LOAN
- ADJUST THE LOAN TERM TO CREATE YOUR IDEAL REPAYMENT STRUCTURE
- DOWNLOAD OR PRINT AN ESTIMATE OF YOUR CAR LOAN REPAYMENTS IN PDF FORMAT
Are you wondering how much you can afford to borrow before deciding on a new car? Perhaps you have fallen in love with the perfect car and are now unsure if you can afford it. Or do you have a business vehicle or leisure item in mind but have a monthly repayment and budget that you need to stick to.
Terms & conditions of use: This calculation is provided as a tool to help customers estimate the repayment amount at a user specified interest rate and duration. Figures displayed in this tool may not include all fees and establishment charges. 360 Finance is under no obligation to offer private or business vehicle finance at the rate or loan duration period specified within this tool. Please note that while weekly and fortnightly repayment options are displayed, this repayment option may not be available from all lenders. To learn what your individual repayments on a given loan amount would be please call 1300 361 360 and speak to a 360 Finance consultant today.
- This is a model, not a prediction. It only gives you an estimate of amounts and repayment periods; the actual amounts may be higher or lower.
- It does NOT include extras such as establishment or account fees.
- It applies to loans where your regular repayment includes both interest and the gradual repayment of the amount borrowed. It does NOT apply to interest only loans.
- It does NOT consider your ability to make the repayments shown. To help you consider the impact of interest rates changes, an example is provided. This shows the impact if interest rates rose by 2% per year. Interest rates could rise in future by more than 2% a year.
- It assumes interest is calculated by compounding on the same weekly, fortnightly or monthly basis as the frequency of repayment you select.
- It is NOT intended to be your sole source of information when making a financial decision. You should consider whether you should get advice from a licensed financial adviser.
Discover the true costs using our car loan calculator
Our car loan calculator is a simple tool that allows you to discover the cost around car finance. It is a handy tool to calculate the repayments of your car loan or almost any other loan you want to compare against.
By entering some simple variables you can:
- Calculate how much you can afford to borrow
- Understand the effect of more frequent payments
- Predict your loan repayment
- Work out how long your ideal loan term is to make it affordable and save interest
- Assess your payment options
- Predict the impact of interest rate changes.
Some simple questions that our car loan calculator can help you answer are noted below to help you get started with some different scenarios. The car finance business calls it “what-if” analysis or financial modeling. We call it doing your research and being financially savvy.
How much can I save by making payments more frequently?
Most of us know that making more frequent payments has an impact on your cash flow. Using a car loan calculator means you can calculate the pro’s and con’s exactly. By simply altering the payment frequency you can calculate the exact amount that will be paid weekly, versus fortnightly or monthly and work out how much interest you can save.
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Use our loan calculator to calculate your repayments
This is the basic functionality of a car loan calculator. The calculator will work out exactly how much your repayments will be based on any given principal (loan amount), term (duration of the loan) and interest rate.
What is the impact on repayments if I take a longer term loan?
If other variables remain the same (such as the interest rate and the principal), by increasing the term of the loan you will see exactly how much your repayments will be reduced by. Shortening the length of the loan term, you will be able to see how high your repayments need to go in order to pay off the loan quickly and save interest. At 360 Finance, your consultant will match the term of the loan to suit your financial situation such as your budget and your goal to pay off the debt.
Our Car Loan Calculator is a useful tool to calculate affordability
If you are concerned about managing your repayments, the first step is to understand exactly how all the variables that make up a car loan impact each other. The car loan calculator makes this process easy, allowing you to manipulate the variables until you come up with a repayment structure that will fit into your budget. For example, to decrease your repayments, choose a longer loan term and make repayments more frequently to minimize the interest.
Can a car loan calculator only be used for cars?
No, the car loan calculator is applicable across most principle and interest loans. So whether you want to work out a caravan loan repayment, car loan repayment or boat repayment, this calculator can work for you.