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Car Loan Calculator

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Car Loan Repayment Calculator

One of the first steps in working out how much you can afford to borrow, is working out or estimating what your disposible income is, after all your bills and other expenses have been paid. Once you are clear what your weekly, fortnightly or monthly disposible income is expected to be, you'll get a better idea of how much you'll be able to affford to borrow, by moving the loan calculator slider above, from left or right.

As a responsible borrower, it is important that you don't extend yourself too much by being unable to make the repayments on your loan. Money3, as a responsible lender will also calculate and verify your income and expenses when working out how much money you could affordably borrow1. Once this is done, we'll be able to confirm with you, your loan pre-approval offer.

When you have been given your loan pre-approval, you'll then be able to confidently look for your next car or other vehicle, within your pre-approval price range.

Smaller loans with money3 start over a 2 year period, however, to ensure the loan repayments are appropriate and affordable for you, the more you borrow, the longer the loan term may be. Loan terms start from 2 years when borrowing from $2,000 and go up to 5 years for larger car loans, generally when borrowing over $16,000.

Car Loans

Car Finance up to $50,000

Common Questions

What is a car loan calculator?

A car loan calculator is a tool which allows you to estimate your weekly repayments based on the amount of money you'd like to borrow. Alternatively, it allows you to estimate how much you could borrow, based on how much you could affordably repay on a weekly, fortnightly or monthly basis.

How do I use the calculator?

The repayment calculator can be used to work out how much money you could borrow and for how long, based on the repayment estimates, per week, fortnight or month shown in the example. However, if you are already set on a particular vehicle, you can move the slider to the cost of the vehicle. This will then show you an estimate of how much you would be expected to repay every week, fortnight or month, during the loan term for that vehicle. If the repayments are affordable for you, then you can start your application with Money3.

How can I work out if the loan repayments are affordable for me?

You will need to work out what your disposable income is. That is the money you have left over, after all your bills, such as rent, gas and electric, travel and shopping plus any other expenses have been paid. As an example, if after everything has been paid, you have $500 left for you to spend as you wish each month, then this would be your disposible income. As a guide, you should make sure you don't extend yourself too much towards your maximum affordability, as emergencies do crop up. Money3, when reviewing your application will double check and take your affordability into account when giving you your car loan pre-approval offer1.

How much will the loan cost me in total?

To get an idea of your loan costs, please see the Example Loan Costs Chart below.

Example Loan Costs Chart

Platinum
19.95% APR
Silver
25.00% APR
Bronze
28.00% APR
Borrow Costs Repay
$5,000 $2,211 $7,211
24 Months at 19.95% APR & 35.97% Comparison Rate
$7,500 $3,316 $10,816
24 Months at 19.95% APR & 39.00% Comparison Rate
$10,000 $6,803 $16,803
36 Months at 19.95% APR & 38.18% Comparison Rate
$12,500 $8,252 $20,752
36 Months at 19.95% APR & 37.19% Comparison Rate
$15,000 $9,701 $24,701
36 Months at 19.95% APR & 36.53% Comparison Rate
Borrow Costs Repay
$5,000 $2,557 $7,557
24 Months at 25.00% APR & 44.43% Comparison Rate
$7,500 $3,835 $11,335
24 Months at 25.00% APR & 44.43% Comparison Rate
$10,000 $7,903 $17,903
36 Months at 25.00% APR & 43.47% Comparison Rate
$12,500 $9,627 $22,127
36 Months at 25.00% APR && 42.51% Comparison Rate
$15,000 $11,351 $26,351
36 Months at 25.00% APR & 41.87% Comparison Rate
Borrow Costs Repay
$5,000 $2,767 $7,767
24 Months at 28.00% APR & 47.66% Comparison Rate
$7,500 $4,150 $11,650
24 Months at 28.00% APR & 47.66% Comparison Rate
$10,000 $8,577 $18,577
36 Months at 28.00% APR & 46.62% Comparison Rate
$12,500 $10,469 $22,969
36 Months at 28.00% APR && 45.68% Comparison Rate
$15,000 $12,361 $27,361
36 Months at 28.00% APR & 45.05% Comparison Rate

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