Take Back Control With Our Car Loan Calculator
Paying Off Your New Car Loan
Want to find out how long it could take to pay off that car you’ve always wanted? Use our Car Loan Repayment Calculator by adjusting the amount, loan term and interest rate to estimate what your repayments might be.
Loan Amount
Enter the amount you would like to borrow.
Repayments
Term
How many years do you want to take to repay the loan?
Interest Rate
You can increase or decrease the interest rate to understand the affect on your repayments and total interest.
Repayment Type
Extra Repayment
Enter the extra amount you plan to make for every repayment
Repayments
Offset Account
Enter the amount in the account you wish to use to offset your interest payments.
Lump Sum
Enter the lump sum about you plan to make against the loan.
Lump Sum Year
Enter the year you plan to make the lump sum payment.
Make Extra Payments
Regular Repayment
$0.00 per Month at 0% p.a.Total Interest
$0.00 over 0 yearsInterest Saved
$0.00Time Saved
0 years 0 monthsStruggling to pay back your debts? We may have the solution!
Car Loan Tips
Increase Your Payments
Any extra repayments you make in the first few years of your car loan can shorten the life of the loan and reduce the overall amount of interest you pay. If you can’t pay more, try to pay more often such as fortnightly rather than monthly.
Make Lump Sum Payments
If you come into some money, whether it be a tax refund, inheritance, work bonus or you sell something, consider putting this money towards your car loan. Making extra lump sum repayments is a good way to pay down your car loan faster.
Refinance Your Loan
You may be able to negotiate a better interest rate on your car loan with your lender. Alternatively, you can refinance your car loan through a different lender by taking out a new loan that covers the amount you still owe on your current one.
Round Up
Instead of just paying the recommended payment, round up your payments to the nearest $50 to help repay your car loan faster. If your repayment is $220 a month, by rounding up to $250 you’d be repaying an extra $360 a year.
