# Business car loan calculator

Set the vehicle price, your deposit or trade-in, the term, a balloon if you want one, the rate and the fees. See your repayments, the total cost and an estimate of the GST your business could claim.

Use it at https://navo.au/calculators/business-car-loan-calculator/. No credit check to see your options; applying involves a credit check.

## How it’s worked out

- The amount your business borrows: the price, less your deposit and trade-in, plus the lender’s establishment fee.
- Repayments over the term, with a balloon at the end if you choose one.
- The total repaid, the interest and the fees.
- An estimate of the GST credit on the purchase, up to the car limit, for the business share of use.

## Questions

### What is a chattel mortgage?

A loan to your business to buy the vehicle. The business owns it from day one and the lender holds it as security until the loan is repaid.

### Can my business claim the GST on a car?

If your business is registered for GST, it can usually claim the GST on the price, up to the car limit, for the business share of use. Confirm it with your accountant.

### What does a balloon do?

A balloon is an amount left owing at the end. It lowers the regular repayments, and you pay it or refinance it when the loan ends.

### Will the lender need my financials?

With 2+ years trading, an ABN and GST registration, the loan could be low-doc. Otherwise the lender asks for tax returns or financials.

### What about the tax deductions?

Interest, depreciation and running costs can be deductible for the business share of use. The Navo Decision Engine estimates them for your structure; your accountant confirms them.

## Not sure which way to pay?

Tell Navo about your circumstances and what matters to you. We work out the numbers across a novated lease, a car loan and a business loan, and show you the way to pay that fits, and why. [Work it out](https://navo.au/#start).

## Other calculators

- [Novated lease calculator](https://navo.au/calculators/novated-lease-calculator/)
- [Car loan calculator](https://navo.au/calculators/car-loan-calculator/)

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Figures are indicative, based on the figures you enter and our assumptions, and are not a quote, a credit assessment or tax advice. Navo's results are general information and indicative only. They are based on what you tell us and our assumptions, are not a credit assessment, quote or tax advice, and don't take all of your circumstances into account. Credit is subject to the lender's criteria. Fees and charges apply.

Navo is a trading name of Blackrock Leasing Pty Ltd ABN 15 681 267 818, Australian Credit Licence 569484.