Car loan calculator

When you get a car loan we lend you the money to buy a vehicle.

You then repay to us the amount you borrowed, plus a charge for interest and fees, in a series of instalments over a pre-agreed loan term of 3-5 years.

When you have finished all your repayments, your loan has been fully paid off and you own the vehicle, debt free.

A balloon payment is a one-off lump sum that you agree to pay your lender at the end of your car loan’s term. It is called a "balloon" because it is very inflated compared to your other payments.

This one-off final payment will account for a large proportion of your car loan so your regular car loan repayments can be reduced as a result.

It is important to note, however, that you are unlikely to save money in the longer term from a balloon as you still have to make the big balloon payment at the end with accumulated interest.

Many businesses like to use a balloon payment for their car loans, because they sell the vehicle at the end of the loan term, and use the money they receive to fund the balloon payment.

A secured car loan is a loan for which you offer the lender some sort of security, which is usually the vehicle itself.

The alternative to a secured car loan is an unsecured loan where no security is offered. Because this is more risky for the lender, unsecured loans generally come with a much higher interest rate than secured loans. loans.com.au does not offer unsecured car loans.

Green cars are usually very fuel efficient, so not only are they good for the environment, but you are likely to enjoy lower running costs. To qualify as a green car, a vehicle needs to have significantly lower than average carbon dioxide (CO2) emissions when compared to other cars of its size.