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Car Loan Calculator

Work out your monthly car loan repayments, the total interest and the real cost of the car, with your deposit and trade-in.

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Monthly payment

€531.07

60 payments on €27,000 at 6.72%

Total interest
€4,864
Total cost
€34,864
What the car really costs
  • Car price€30,000
  • Interest€4,864

What this means

Interest adds €4,864, so the car really costs €34,864.

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.

Next step

Breakdown

Car price€30,000.00
Deposit-€3,000.00
Amount borrowed€27,000.00
Interest€4,864.34
Total repaid€31,864.34

About the rate

New consumer loans averaged 6.72% in July 2026 (Central Bank of Ireland).

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
€6,373€3,186€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 monthly repayment: 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 €30,000 car with a €3,000 deposit leaves €27,000 to borrow. At 6.72% over five years, that’s €531.07 a month and €4,864 of interest. New consumer loans averaged 6.72% in July 2026, according to the Central Bank of Ireland.

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 monthly repayments pay it back with interest. On €27,000 at 6.72% over five years, that’s €531.07 a month.

Is a longer car loan better?

It lowers each repayment but costs more in interest overall.

How can I lower my monthly repayment?

Put down a bigger deposit, trade in your old car, compare loans from banks and credit unions with dealer finance, or choose a cheaper car. A longer loan lowers the repayment but costs more interest.

Is this the same as PCP?

No. With PCP you leave a large final "balloon" payment at the end, so the monthly repayments are lower. This calculator is for a loan or hire purchase, where you pay off the whole car.