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Novated lease calculatorCar loan calculatorBusiness car loan calculator

Car loan calculator

Set the car price, your deposit or trade-in, the term, the rate and the fees. See your repayments, the total cost and the comparison rate.

Your figures

Loan term
Repayments

An example rate. Your rate depends on the lender and your circumstances.

Your result

93.02

a week over 5 years

Amount borrowed
$40,395.00
Total repayments
$50,185.20
Total interest
$9,790.20
Fees
$395.00
Interest rate
8.99% p.a.
Comparison rate*
9.55% p.a.

* The comparison rate is based on a loan of $30,000 over 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Is a car loan the right way to pay?

If you’re an employee, a novated lease might cost you less, and if the car is for your business, a business loan might. The Navo Decision Engine compares all three on your figures, running costs and tax included, and shows which fits, and why.

How it’s worked out

  • The amount you borrow: the price, less your deposit and trade-in, plus the lender’s establishment fee.
  • Repayments weekly, fortnightly or monthly over the term you choose.
  • The total you repay, the interest and the fees.
  • The comparison rate, which counts the fees as well as the interest rate.

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

Questions

How are car loan repayments worked out?

From the amount you borrow (the price plus the establishment fee, less any deposit or trade-in), the interest rate and the term. Each repayment covers that period’s interest and pays off some of the loan.

What is a comparison rate?

A rate that includes the loan’s fees as well as its interest rate, so loans with different fees can be compared. It is worked out on a standard loan amount and term, so your own loan’s true cost can differ.

Does using the calculator affect my credit file?

No. The calculator doesn’t involve a credit check. A credit check only happens if you choose to apply, and only with your consent.

Is a car loan regulated?

Yes. A car loan for personal use is consumer credit under the National Credit Code: the lender must show you the interest rate and comparison rate, check the loan suits you, and offer hardship help if things change.

Would a novated lease cost me less?

If you’re an employee, it might. Tell the Navo Decision Engine what matters to you, and we work out which way to pay fits.

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Navo is a trading name of Blackrock Leasing Pty Ltd ABN 15 681 267 818, Australian Credit Licence 569484. Figures are indicative, based on the figures you enter and our assumptions, and are not a quote, a credit assessment or tax advice. No credit check to see your options; applying involves a credit check.