Loan Repayment Calculator
Estimate Car & Asset Finance Repayments Instantly
Our calculator gives you a quick estimate based on the details you enter. Once you're ready, you can compare finance options from 70+ Australian lenders and unlock your personalised rate in minutes — with no impact on your credit score.
Loan calculator
Adjust the details to estimate repayments.
How Loan Repayment Calculators Work
A loan repayment calculator helps you estimate how much your finance repayments could be based on the key variables in a loan. By adjusting the loan amount, interest rate, loan term, and any balloon payment, you can see how each factor impacts your weekly, fortnightly, or monthly repayments.
This gives you a clearer picture of affordability before applying for finance and allows you to compare different scenarios quickly.
Below are the main factors that influence your loan repayments.
Loan Amount
The loan amount is the total amount you borrow to purchase an asset such as a car, boat, caravan, motorcycle or equipment.
Generally, the larger the loan amount, the higher your repayments will be. Adjusting the loan amount in the calculator allows you to see how borrowing more or less affects your repayment amount.
Many borrowers reduce their loan amount by using a deposit or trade-in, which can lower repayments and reduce the total interest paid over the life of the loan.
Interest Rate vs Comparison Rate
The interest rate, sometimes called the base rate, is the percentage charged by the lender on the loan balance.
The comparison rate includes the interest rate plus most standard fees and charges associated with the loan. It is designed to give borrowers a more accurate picture of the true cost of the loan when comparing lenders.
While this calculator allows you to adjust the interest rate to explore different scenarios, when comparing finance options it’s important to consider the comparison rate, as this reflects the overall cost of the loan.
Loan Term
The loan term is the length of time you take to repay the loan. Asset finance terms typically range between 1 and 7 years depending on the type of asset and lender policy.
Longer loan terms generally reduce your regular repayments, but you may pay more interest over time. Shorter terms usually increase repayments but can reduce the total interest paid.
Using the term slider in the calculator helps you explore the balance between repayment size and loan duration.
Balloon Payments
A balloon payment is a lump sum that remains outstanding at the end of the loan term.
Adding a balloon payment can reduce your regular repayments during the loan term because part of the loan balance is deferred until the end of the agreement. This option is sometimes used for vehicle and asset finance, particularly when borrowers plan to trade or upgrade their asset later.
However, it’s important to remember that the balloon amount must still be paid at the end of the loan, refinanced, or covered through the sale or trade-in of the asset.
Weekly, Fortnightly or Monthly Repayments
Most lenders allow repayments to be made weekly, fortnightly, or monthly depending on your preference and income cycle.
Weekly and fortnightly repayments can sometimes help borrowers manage cash flow more easily, particularly if they are paid weekly or fortnightly. Monthly repayments are common for borrowers who receive a monthly salary.
Using the repayment toggle in the calculator allows you to compare how each repayment frequency affects your repayment amount.
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Loan Calculator FAQs
Find answers to common questions about repayment estimates, comparison rates, balloon payments, and how to use the calculator.
A loan repayment calculator provides an estimate based on the information you enter, such as loan amount, interest rate, loan term, and balloon payment.
While it gives a helpful guide to potential repayments, the final repayment amount may vary depending on the lender, fees, and your individual financial circumstances.
To see your actual rate and repayments, you can compare options from multiple lenders through a finance application.
The interest rate you use in the calculator represents the base rate applied to the loan balance.
Rates vary depending on factors such as the asset type, loan amount, loan term, credit profile, and lender policies.
To explore different scenarios, you can adjust the rate slider in the calculator. When comparing finance offers, it's important to consider the comparison rate, which includes most fees and charges and reflects the total cost of the loan.
A comparison rate is designed to help borrowers compare loans more easily.
It combines the interest rate with most standard fees and charges associated with the loan to give a clearer indication of the total cost.
While the interest rate shows the base borrowing cost, the comparison rate reflects the overall cost of the loan over time.
A balloon payment is a lump sum that remains at the end of the loan term.
Choosing a balloon payment can reduce your regular repayments during the loan, but the balloon amount must still be paid at the end of the agreement.
Some borrowers plan to pay the balloon using savings, refinance the balance, or trade in the asset.
The best repayment frequency depends on your income and budgeting preferences.
Weekly or fortnightly repayments may suit borrowers who are paid weekly or fortnightly and want repayments aligned with their income cycle.
Monthly repayments are common for borrowers paid monthly. The calculator allows you to switch between repayment frequencies to see how repayment amounts change.
Yes. This calculator can be used to estimate repayments for a range of asset finance options including:
- Car loans
- Boat and marine finance
- Caravan loans
- Motorcycle finance
- Commercial equipment finance
Each type of loan may have different interest rates and lending criteria depending on the lender.
No. Using the loan calculator has no impact on your credit score.
It simply provides an estimate based on the details you enter.
If you choose to apply for finance, many lenders now offer soft credit checks, which allow you to view personalised rates without affecting your credit file.
The best way to find your personalised rate is to compare lenders based on your individual circumstances.
By completing a quick finance application, you can view estimated rates and repayment options from a panel of lenders.
This process typically takes only a few minutes and does not affect your credit score when using a soft credit check.
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