Car Loans Calculator – ANZ, Commonwealth Bank, Westpac, St.George, NAB
Using a Car Loans Calculator to Compare Loans
Most people only ever think about using a car loans calculator in order to figure out how much the minimum monthly payment will be on their new loan. Yet, there are so many more uses for a good calculator, if you know what you’re looking for.
Comparison of Top Car Loan
| Personal Loan | Details | Min Interest Rate | Min Comparison Rate | Min Loan Amount | Min Loan Terms | Apply Fee | |
|---|---|---|---|---|---|---|---|
Aussie Personal Loan |
Consolidate your multiple debts (credit cards, car loans, student loans and other personal loans) in to one low interest loan. | 13.90% | 14.84% | $3000 | 1 year | $199 |   |
St.George Secured Personal Loan |
Can be used for whatever purpose: renovating, buying a car, booking a holiday. Funds can be in your count in as little as 24 hours. | 12.74% | 13.62% | $3000 | 1 year | $195 | |
ANZ Fixed Rate Personal Loan |
A flexible loan option allowing you to take out a loan to pay off your debt, buy a car, fix up your house, or travel – paying for your next holiday. | 13.95% | 17.07% | $5000 | 1 year | $150 | |
 Citibank Personal Credit |
Unsecured line of credit with no fixed term – pay it off as fast or as slow as you want. Can be used as credit, to withdraw cash or pay by cheque. | 4.9% | 15.59% | $5000 | 1 Yr | $99* |
|
Sugar Money Personal Loan |
Consolidate your debts or fund a new car purchase with a fixed rate personal loan. Apply and get a decision within 1 hour. | 13.99% | 15.00% | $3000 | 2 years | $250 | |
A car loans calculator is ideal for comparing two particular loans against each other.
For example: Let’s assume you’re borrowing $20,000 over 5 years and you want to compare two different loans. In this example, one has a higher interest rate and no monthly fee, but the other has a lower interest rate and a monthly account fee applies.
| Loan Amount | Interest Rate | Loan Term | Account Fee | Repayment |
| $20,000 | 8.5% | 5 years | $0 | $410.33 |
| $20,000 | 8.5% | 5 years | $10 | $415.05 |
While the lower interest rate might appeal to most people, the addition of the monthly fee means you end up paying the lender a little more each month.
Calculating Total Costs
The price you see written on the sales sticker for the car you want isn’t necessarily the price you’ll end up paying for your car, especially if you make your purchase using finance.
Think about buying a $20,000 car with cash. You know that this is the price you’ll pay and there are no interest costs blowing out your total costs. Yet when you purchase using a car loan, your costs can really start to mount up.
A good car loans calculator can help you work out your total costs:
| Loan Amount | Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
| $20,000 | 8.5% | 5 years | $410.33 | $4,619.84 |
Over that 5 year loan term, your $20,000 car will end up costing you a total of $24,619.84, not including any stamp duty or other associated fees.
A good car loans calculator can be a great tool for helping you reduce your car loan quickly. You could also decide to use one to work out whether you can afford to make the extra payments necessary each month to repay your car loan in a much shorter loan term. The key is to spend some time playing with your own numbers until you find a way to make those figures suit you and your budget.
Featured Personal Loans
| Personal Loan | Details | Min Interest Rate | Min Comparison Rate | Min Loan Amount | Min Loan Terms | Apply Fee | |
|---|---|---|---|---|---|---|---|
 ME Bank Personal Loan | A low rate personal loan from ME Bank with no application fee for a limited time. | 13.59% | 13.81% | $5000 | 1 year | $0 | |
Aussie Personal Loan | A smart way to consolidate your bills to save time and money so you can pay for your holiday, a wedding or renovate the house. | 13.90% | 14.84% | $3000 | 1 year | $199 | |
Sugar Money Personal Loan | Fixed rate personal loan with flexible options to get you funds when you need it. | 13.99% | 15.00% | $3000 | 2 years | $250 | |
 bankmecu Personal Loan | A convenient and fast way to purchase a car or debt consolidation with affordable rates and fees. | 13.49% | 14.55% | $1000 | 1 year | $150 | |
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