Recent Money3 Loan & Finance Reviews
Car Loan Repayment Calculator
One of the first steps in figuring out how much you can borrow is estimating your disposable income. This is the money you have left after paying all your bills and expenses. Once you know your weekly, fortnightly, or monthly disposable income, you can better understand how much you can borrow. Use the loan calculator slider above to adjust the amount from left to right.
As a responsible borrower, it is important not to overextend yourself. You should be able to make the repayments on your loan.
Money3, as a responsible lender, will check your income and expenses. This helps us work out how much money you could borrow1. Once we complete this, we will be able to confirm your loan pre-approval offer with you.
Once you receive your loan pre-approval, you can confidently search for your next car or vehicle. Just stay within your pre-approval price range.
Once we complete this, we will be able to confirm your loan pre-approval offer with you. Loan terms begin at 2 years for amounts starting at $2,000. For larger car loans over $16,000, terms can go up to 5 years and up to 6 years, when over $30,000.
Also See: How to Get a Car Loan and the best time to buy your car.
1. Subject to verification, suitability and affordability
Understanding APR and Comparison Rates
When you think about a vehicle finance, it's important to know the costs of borrowing. This includes more than just the main loan amount. Two key terms you'll encounter in Australia are the Annual Percentage Rate (APR) and the Comparison Rate. Here's what each means and why they matter:
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APR (Annual Percentage Rate): This rate represents the actual yearly cost of funds over the term of a loan. This includes the interest rate plus any fees that are integrated into the loan. Our fixed APR means it doesn't change over the lifetime of your loan, ensuring consistency in your repayments.
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Comparison Rate: Our fixed APR means it doesn't change over the lifetime of your loan, ensuring consistency in your repayments. This rate helps you see the total cost of the loan. It gives you a clearer view of the financial commitment you are making.
Why Pay Attention to Comparison Rates?
The comparison rate is helpful because it lets you compare different loan products using one number. This number shows the true cost of the loan. It helps you understand the real cost per year. This can help you make better choices when comparing different loan offers.
It combines the interest rate, fees, and charges into one percentage. This percentage shows the total cost of the loan over its entire term. Then, it averages that cost into an annual rate.
This helps you understand the average yearly cost of the loan over time, incorporating all charges and fees, not just the interest.
Example Car Finance Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,909 | $6,909 |
| 24 months at 13.95% APR & 34.16% Comparison Rate | ||
| $10,000 | $6,925 | $16,925 |
| 48 months at 13.95% APR & 29.11% Comparison Rate | ||
| $25,000 | $14,850 | $39,850 |
| 60 months at 13.95% APR & 20.38% Comparison Rate | ||
| $50,000 | $30,285 | $80,285 |
| 72 months at 13.95% APR & 17.23% Comparison Rate | ||
| $75,000 | $42,219 | $117,219 |
| 72 months at 13.95% APR & 16.15% Comparison Rate | ||
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,909.35 and a total repayment of $6,909.35. The Minimum loan term is 24 months and the Maximum term 24 months. The loan term will be 24 months, 52 fortnights or 104 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 34.16%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Fixed vs Variable Rate Car Loans
When choosing a car loan, one key decision is whether to go with a fixed interest rate or a variable interest rate. At Money3, we offer fixed-rate car loans to give you certainty and stability in your repayments.
Fixed Rate Car Loans
A fixed rate car loan means your interest rate stays the same for the entire loan term. This provides:
- Predictable repayments – making it easier to budget
- Protection from rate increases – your rate won’t go up
- Simple and structured payments – no unexpected changes
With a fixed-rate loan from Money3, you can plan your finances with confidence, knowing your repayments won’t fluctuate.
What About Variable Rate Loans?
A variable rate loan means the interest rate can change based on market conditions, which could lead to lower repayments if rates drop—but also the risk of higher repayments if rates rise.
Since Money3 only offers fixed-rate loans, you get peace of mind knowing exactly what your repayments will be from start to finish, helping you stay in control of your budget.
Car Finance Calculator FAQs
A car loan calculator is a tool that allows you to estimate your weekly repayments based on the amount of money you'd like to borrow. Alternatively, it helps you estimate how much you can borrow. This depends on what you can afford to repay each week, every two weeks, or each month.
You can use this calculator for car loans to find out how much money you could borrow. It also shows how long you could borrow it. The calculator gives repayment estimates for each week, fortnight, or month. If you have already chosen a specific vehicle, you can adjust the slider to match its cost.
This will give you an estimate of your weekly, fortnightly, or monthly repayment amount. This estimate is for the duration of the loan for that vehicle. If you can afford the repayments and meet our lending criteria, you can start your application with Money3.
If everything looks affordable for you, head over to our car loans page to learn more and get started.
At Money3, you do not need a deposit to qualify for a car loan. We could potentially finance up to 100% of your car’s purchase price, affordability and approval1.
To qualify for a car loan with Money3, you must be over 18 years old, an Australian resident (either a permanent resident or citizen of Australia) and have a minimum income of $480, which can include benefits.
We consider applicants with various financial backgrounds, including those with bad credit or receiving Centrelink benefits. We'll give you a fair go!
Yes1, at Money3, we give everyone a fair go! We understand that life can have its ups and downs, which can affect your credit score. We consider all applications, even those from customers with bad credit.
Learn more about car loans with bad credit and apply online.
Yes, you could secure a car loan1 while receiving Centrelink payments. As long as these are not your sole income sources from Newstart Allowance, Youth Allowance, Abstudy, or Austudy. We review all applications as a whole, considering various forms of income to support your loan application.
Get started with your car loan on Centrelink.
Consider your financial needs and your ability to meet regular payments when deciding how much to borrow. It's important to not only think about the initial cost but also the overall affordability during the loan term.
You can use our handy online repayment calculator, above or check out some other loan calculators that we offer. Just enter your loan amount and choose how often you want to pay (weekly, fortnightly, or monthly).
Then, you can see an example of your possible repayments. This tool helps you see the financial commitment. It also helps you make a smart decision based on your budget and the loan term.
Make sure the loan amount fits your current needs and your ability to pay it back later.
The value of your estimated repayments will be determined by your loan amount, the type of loan you take out (e.g. fixed rate loans), and your repayment frequency (e.g. monthly repayments, fortnightly repayments, etc.) among other factors.
Use our repayment calculator above. It will help you see how much your weekly or monthly payments will be. This depends on the loan amount you choose.
You will need to work out what your disposable income is. That is the money you have left after paying all your bills. This includes rent, gas, electric, travel, shopping, and other expenses.
For example, if you have $500 left to spend each month after paying all your bills, this is your disposable income. As a guide, make sure you don't stretch your budget too far. Emergencies can happen unexpectedly.
Money3, when reviewing your application will double-check and take your affordability into account when giving you your car loan pre-approval offer1. Our reviewing processes follow Australian government regulations, and we operate with an Australian Credit Licence 389067.
Your car loan interest rate can change based on several factors. This includes the loan amount. It also considers if the car is new or used.
Your financial situation is important too. Lastly, we look at your repayment history with us.
To get an idea of your loan costs, please see the Example Car Finance Costs Chart above. Our chart will provide you with examples of our secured car loan repayments.
When planning for a vehicle purchase in Australia, it's important to consider all associated costs beyond the principal loan amount. Here's a list of expenses you should factor into your budget:
- Car insurance: Essential for protecting your vehicle against accidents, theft, and other damage.
- Registration: Required by law and must be renewed typically every year.
- Regular maintenance: Includes oil changes, brake checks, and other routine services to keep your vehicle running smoothly.
- Fuel: Ongoing cost depending on your vehicle's fuel efficiency and how much you drive.
- Repairs: Unexpected repairs can arise; setting aside a budget for this can help manage these surprises.
Planning for these expenses will help you manage your finances more effectively throughout the term of your loan and beyond.
Lender finance, such as a loan from Money3, gives you more flexibility and control over your car purchase. With a lender, you can arrange pre-approval, so you know your budget before you start shopping. This puts you in a stronger position to negotiate a better price on your car. Lender finance also offers more options for loan terms and repayment structures, helping you find a loan that suits your financial situation.
Dealership finance, on the other hand, is arranged through the car dealer directly. While it may seem convenient, it often comes with higher interest rates, hidden fees, or restrictions on which vehicles qualify. Some dealership finance agreements also include inflated car prices or additional costs that aren't immediately obvious.
Choosing a lender like Money3 means you get clear loan terms and more bargaining power when buying your car, helping you avoid unnecessary costs and helping you get a deal that works for you.
A balloon payment is a lump sum paid at the end of a car loan term. It reduces your regular repayments throughout the loan but means you’ll have a larger amount to pay at the end.
Money3 does not offer balloon payment options.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
1. Subject to verification, suitability and affordability
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Information such as interest rates quoted, and default figures used in the assumptions are subject to change.
Still have questions? We could help!
Our team at Money3 are here to help answer your questions and concerns
Not sure about your loan options? Whether you're wondering about repayments, affordability, or the best loan for your situation, our team is ready to help. Get in touch today and let’s find a solution that works for you!
Other Calculators to Explore
Vehicle Finance Calculator
Use our vehicle finance calculator to see how much you could afford to borrow. When considering all kinds of vehicles from motorbikes to boats
Caravan Finance Calculator
Find out how much you could afford to borrow by using our caravan loan calculator. All kinds of RV's considered from caravans to motorhomes.
Personal Loan Calculator
Check how much you could afford to borrow and repay for all kinds of personal loans, from holidays, medical treatment, home improvements, car repairs and more.
Ready to Get Started?
Car Loans
Ready? Our car loans are available up to $75,000 with loan terms to match your loan amount and budgets. Affordable repayment options.
Car Loans with Bad Credit
Even with a poor credit history, it is possible to get approved up to $75,000. Loan amounts dependent on affordability so that your repayments are manageable over the loan term.
Centrelink Friendly* Car Loans
Many Centrelink benefits considered with your Money3 car loan. Loans available up to $12,000 depending on affordability.
1. Subject to verification, suitability and affordability
2. Your income from Centrelink must be less than 50% of your total income in order to qualify for an unsecured personal loan over $12,000.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
