Estimated Payment
$112/week
Total Interest
$3,992
Total Payable
$28,992
Comparison Rate*
6.79%
*This calculator provides estimates only and does not constitute a finance offer. Actual rates, fees, and repayments may differ. Comparison rate is based on an unsecured loan. Contact us for a personalised quote. Terms and conditions apply.
Key terms explained to help you make informed decisions.
The annual percentage rate charged by the lender on your loan. This is the cost of borrowing money, expressed as a yearly percentage of the outstanding loan balance.
A rate that includes the interest rate plus most fees and charges relating to a loan, reduced to a single percentage figure. It helps you compare the true cost of different loans on a like-for-like basis.
A lump sum payment due at the end of the loan term. It reduces your regular repayments throughout the loan, but you will need to pay a larger amount at the end. You can then choose to pay it off, refinance, or trade in the vehicle.
A secured car loan uses the vehicle as collateral, which typically results in a lower interest rate. An unsecured loan does not require the vehicle as security but generally has higher rates. Most car loans are secured.
Practical advice to help you get the best deal on your car finance.
A bigger deposit means borrowing less, paying less interest, and potentially securing a better rate. Aim for at least 10-20% of the vehicle price.
Shorter loan terms mean higher repayments but significantly less interest paid over the life of the loan. Compare 3-year vs 5-year options carefully.
As a rule of thumb, your total car costs (loan repayment, insurance, fuel, maintenance) should not exceed 15-20% of your gross monthly income.
Knowing your credit score before applying helps you understand what rates you may qualify for. You can check your score for free through services like Credit Savvy or Credit Simple.
A lower weekly repayment might seem attractive, but always compare the total amount payable over the life of the loan. Longer terms cost more in total interest.
Getting pre-approved for finance before you start shopping gives you a clear budget and stronger negotiating position. It also shows sellers you are a serious buyer.
Take the next step and apply for finance pre-approval. Quick, easy, and no obligation.
Apply for Finance