Car Loan Calculator

A car loan (also referred to as a secured car loan) involves a finance company lending you the money to purchase a vehicle for personal use. The loan is secured against the vehicle and, when the final repayment has been made, you will own the vehicle outright.

Benefits and product features of a car loan include flexible loan repayment periods, the ability to set a balloon or residual payment which will reduce your monthly repayments and lower interest rates versus a personal loan thanks to it being secured against the vehicle itself. As a business, a car loan may help you improve cash flow to your business as well as the potential to claim tax deductions if the car is being used for business purposes (check with your accountant for eligibility).

A comparison rate is an interest rate that lenders are required by law to display next to any advertised interest rate. A comparison rate calculates the loan interest rate and fees you may have to pay, including application fees and ongoing loan fees. This allows you to find out the true cost of the loan. We have a comparison rate calculator you can use to help you compare apples with apples.