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Car Loan Calculator

Work out your weekly, fortnightly or monthly car loan repayments, the total interest and the real cost of the car.

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Registration, documentation and similar

Monthly payment

$721.02

60 payments on $36,000 at 7.48%

Total interest
$7,262
Total cost
$47,262
What the car really costs
  • Car price$40,000
  • Interest$7,262

What this means

Interest adds $7,262, so the car really costs $47,262.

A shorter loan or a bigger deposit cuts the interest. Cars lose value fast, so try not to owe more than the car is worth.

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Breakdown

Car price$40,000.00
Deposit-$4,000.00
Amount borrowed$36,000.00
Interest$7,261.53
Total repaid$43,261.53

About the rate

Secured new car loans for good borrowers averaged 7.48% a year in July 2026 (Reserve Bank of Australia).

Use the rate you’ve been offered: it depends on your credit, the lender, the car’s age and the loan length. A longer loan lowers each payment but costs more interest.

Principal and interest paid each year
$8,653$4,326$0
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PrincipalInterest
Assumptions in this estimate
  • Assumes a fixed rate and equal repayments, with interest worked out on each repayment. Your lender’s figures can differ slightly.
  • Balloon payments, lender fees and insurance aren’t included.
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How the calculator works

  1. The amount you borrow: the car price, less your deposit and trade-in.
  2. Your repayments: worked out so equal payments repay the loan, with interest, by the end of the loan.
  3. The real cost: everything you pay, up front and in repayments. The chart below shows how much of each year’s payments goes on interest.

An example

A $40,000 car with a $4,000 deposit leaves $36,000 to borrow. At 7.48% over five years, that’s $721.02 a month and $7,262 of interest. Secured new car loans for good borrowers averaged 7.48% a year in July 2026, according to the Reserve Bank of Australia.

The rate you’re offered depends on your credit history, the lender, the car’s age and the loan length, so use your own rate for the most accurate result.

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Frequently asked questions

How is a car loan payment worked out?

Your loan is the car price less your deposit and trade-in. Equal repayments pay it back with interest. On $36,000 at 7.48% over five years, that’s $721.02 a month.

Is a longer car loan better?

It lowers each repayment but costs more in interest overall.

How can I lower my repayments?

Put down a bigger deposit, trade in your old car, compare secured car loans (usually cheaper than unsecured ones), or choose a cheaper car. A longer loan lowers the repayment but costs more interest.