Car loan repayment calculator: work out your 2026 repayments
Thinking about financing a car in Sydney, Melbourne or Brisbane and want to know what it'll actually cost each month? A car loan repayment calculator turns three numbers — the amount you borrow, the interest rate and the loan term — into a repayment figure you can plan a budget around.
This guide shows you how the calculation works, what car loan rates look like across Australia in 2026, and how the loan term and comparison rate quietly change the total you pay. You can run your own numbers on our free finance and property calculators as you read.
The short version: on a typical $35,000 car loan over five years at around 7.5% p.a., you're looking at roughly $700 a month. Change the rate or the term and that number moves more than most buyers expect.
Last updated: July 2026.
Key takeaways
- A $35,000 car loan over 5 years at 7.5% p.a. costs roughly $700/month and about $7,100 in total interest.
- Car loan interest rates in Australia sit around 6.5%–12% p.a. in 2026, depending on your credit history, whether the loan is secured, and the lender.
- Always compare the comparison rate, not the advertised rate — it folds in most fees and is a truer cost signal.
- A longer term lowers the monthly repayment but raises total interest; a shorter term does the opposite.
- A car loan repayment calculator only gives an indicative figure — your lender confirms the real rate after assessing your application.
What's on this page
- How a car loan repayment calculator works
- Car loan repayments by amount (2026 table)
- What interest rate will you actually pay?
- How the loan term changes your repayments
- Fees and extras the sticker rate hides
- New vs used, secured vs unsecured
- Frequently asked questions
How a car loan repayment calculator works
A car loan repayment calculator uses the standard amortising loan formula to spread your borrowing plus interest evenly across every repayment. You put in the loan amount, the annual interest rate and the term in years; it returns your weekly, fortnightly or monthly repayment.
"Amortising" means each repayment covers the interest charged that period first, then chips away at the principal — the amount you actually borrowed. Early on, more of each payment is interest; later, more goes to principal. That's why paying a loan out early saves less interest than people assume once they're a few years in.
The maths behind it is fixed, so any honest calculator gives the same answer for the same inputs. The three levers that move your repayment are the amount, the rate and the term — nothing else. Get those right and the estimate is reliable.
Want your exact number? Browse the full calculator library and enter your amount, rate and term to see the repayment instantly.
Car loan repayments by amount in 2026
Here's what a secured car loan looks like at a representative 7.5% p.a. over a 5-year (60-month) term — a common setup for a near-new car in 2026.
| Loan amount | Monthly repayment | Total interest | Total repaid |
|---|---|---|---|
| $20,000 | ~$401 | ~$4,050 | ~$24,050 |
| $30,000 | ~$601 | ~$6,070 | ~$36,070 |
| $35,000 | ~$701 | ~$7,080 | ~$42,080 |
| $40,000 | ~$802 | ~$8,090 | ~$48,090 |
| $50,000 | ~$1,002 | ~$10,120 | ~$60,120 |
These figures are estimates generated through Leadkit's car loan repayment calculator using a 7.5% p.a. rate over 5 years — a mid-range 2026 assumption, not a quote from any lender. This is an estimate only. Your lender will confirm your actual rate and repayments after assessing your application.
Across the car finance estimates run through Leadkit, the number that surprises buyers most isn't the drive-away price — it's how much a couple of extra percent on the comparison rate adds across a five-year term.
What interest rate will you actually pay?
Car loan interest rates in Australia broadly range from about 6.5% to 12% p.a. in 2026, and where you land depends on a handful of factors. Secured loans (where the car itself is the collateral) sit at the lower end; unsecured personal loans used to buy a car sit higher.
Your rate is driven by:
- Credit score and history — a clean file with steady income gets the sharpest rates.
- Secured vs unsecured — securing the loan against the vehicle usually shaves a few percent off.
- New vs used — newer cars often attract lower rates because they're worth more if repossessed.
- Loan term and amount — some lenders load the rate on very short or very long terms.
Broader interest-rate settings feed into all of this. The Reserve Bank of Australia's cash rate is the anchor that lenders price above, so it's worth a glance at the RBA before you lock in. For an independent walk-through of how car loans work, ASIC's Moneysmart is the go-to consumer resource.
How the loan term changes your repayments
The loan term is the single biggest lever on your monthly figure — and the sneakiest on total cost. A longer term lowers each repayment but you pay interest for longer, so the total climbs. Here's the same $35,000 loan over 5 years at different rates so you can see the swing.
| Interest rate (p.a.) | Monthly repayment | Total interest (5 yrs) |
|---|---|---|
| 5.5% | ~$669 | ~$5,110 |
| 7.5% | ~$701 | ~$7,080 |
| 9.5% | ~$735 | ~$9,100 |
| 11.5% | ~$770 | ~$11,180 |
Two points jump out. First, a 6% gap in rate more than doubles the interest bill on the same car. Second, stretching a loan from five to seven years to shave the monthly figure can add thousands in interest — a classic trap on dealer finance. If cash flow is tight, a slightly cheaper car on a shorter term often beats a dearer one dragged out over seven years.
If you're weighing car finance against tapping equity in your home, it's worth modelling both — the home loan repayment calculator shows how a lower home-loan rate over a long term can still cost more in total.
Fees and extras the sticker rate hides
The advertised rate almost never tells the whole story — the comparison rate does. By law, Australian lenders must show a comparison rate alongside the advertised rate; it bundles most fees and charges into a single percentage so you can compare loans on a like-for-like basis. This is required under the National Consumer Credit Protection framework overseen by ASIC, and it's the number to trust.
Watch for these on top of interest:
- Establishment or application fee — a one-off setup charge, often $200–$600.
- Monthly account fee — a small recurring fee that quietly adds up over the term.
- Balloon (residual) payment — a lump sum owed at the end that keeps monthly repayments low but leaves a big bill; common on dealer and novated deals.
- Early exit or break fees — charged on some fixed-rate loans if you pay out early.
A balloon payment is worth flagging: it can make a repayment look affordable while parking $8,000–$12,000 at the end of the term. Factor it in before you sign, because the calculator's monthly figure won't include it.
New vs used, secured vs unsecured
Whether you're buying new or used, and secured or unsecured, changes both your rate and how the calculator should be set up. A secured car loan uses the vehicle as collateral, which lowers the lender's risk and usually your rate. An unsecured personal loan isn't tied to the car, giving you more freedom (you can buy privately or from any age vehicle) but at a higher rate.
New-car buyers often get the sharpest secured rates and sometimes low-rate dealer offers — just check the comparison rate, because a headline "1.9%" deal can carry fees that push the true cost well above a standard bank loan. Used-car buyers should budget for slightly higher rates and shorter maximum terms, since lenders cap how long they'll finance an older car.
Once you own the car, the running costs stack up too — servicing, rego, insurance and fuel. If you're pricing the full ownership picture, our guide to car servicing costs in Australia is a useful companion, and you can browse every money tool in the full calculator library.
Frequently asked questions
Q: How much is the repayment on a $30,000 car loan?
A: A $30,000 car loan at around 7.5% p.a. over five years works out to roughly $601 a month, with about $6,070 in total interest — so you'd repay around $36,070 all up. Drop the rate to 5.5% and the monthly figure falls to about $573; push it to 9.5% and it climbs to around $630. The term matters just as much: the same loan over seven years lowers the monthly repayment but adds a chunk of interest. Plug your own rate and term into a car loan repayment calculator for a figure that matches your situation.
Q: What is a good car loan interest rate in Australia in 2026?
A: A competitive secured car loan rate in 2026 sits around 6.5%–8% p.a. for a borrower with a solid credit history buying a newer car. Anything under 7% on a secured loan is sharp; unsecured personal loans used to buy a car run higher, often 9%–14%. Always compare the comparison rate rather than the advertised rate, because fees can lift the true cost by half a percent or more. Rates move with the RBA cash rate, so what's "good" shifts over the year.
Q: Should I get a shorter or longer loan term?
A: Choose the shortest term whose monthly repayment you can comfortably afford. A longer term lowers each repayment, which helps cash flow, but you pay interest for more years and the total cost rises — sometimes by thousands. A shorter term means higher monthly repayments but far less interest overall and you own the car outright sooner. Run both scenarios side by side on the calculator before you decide; seeing the total interest for each term usually makes the trade-off obvious.
Q: Does a car loan calculator include fees and GST?
A: A basic car loan repayment calculator works off the interest rate you enter, so it captures interest but not one-off fees like establishment charges or monthly account fees. To see the true cost, use the loan's comparison rate as your input — it already folds in most fees. GST on the car itself is included in the purchase price you finance, so the loan amount already covers it. Just remember to add any balloon payment separately, since the monthly figure won't show it.
Q: Can I pay off my car loan early?
A: In most cases yes, though some fixed-rate loans charge an early exit or break fee, so check your contract first. Paying extra each month or making a lump-sum payment reduces the principal and cuts the total interest you pay. Because car loans amortise, early extra repayments save the most in the first couple of years when the interest portion is largest. A loan with a free redraw or no early-repayment penalty gives you the flexibility to clear it faster if your budget improves.
Q: Is car finance cheaper through a dealer or a broker?
A: It depends on the specific offer, not the channel. Dealer finance can bundle a genuinely low promotional rate, but those deals sometimes carry fees or a balloon payment that lift the real cost — always check the comparison rate. A finance broker shops multiple lenders and can find a sharper secured rate, especially for used cars or non-standard situations. Get at least two written offers and compare them on comparison rate and total repaid, not the monthly figure alone. You can model any offer on the personal loan repayment calculator too.
Final tips before you sign
Work out your repayment before you fall for a car, not after — it keeps you from stretching the term just to hit a monthly number you like. Compare loans on the comparison rate and the total repaid, check for a balloon payment, and confirm whether extra repayments are free. A ten-minute calculation now can save you thousands over a five-year loan.
For a deeper look at how repayments, terms and rates play out across the market, our full guide to car loan repayments in Australia walks through more scenarios.
Want an instant repayment estimate? Use the free car loan repayment calculator — takes 30 seconds, no signup. Results are an indication only; your lender confirms your actual rate and repayments.
Are you a car finance broker or dealer? You can embed this exact calculator on your own site with Leadkit in 60 seconds — every repayment estimate a visitor runs becomes a warm, contactable lead. No credit card needed.