Car Loan Repayment Calculator

Calculate Car Loan Repayments

A car loan repayment calculator estimates periodic payments and a final balloon from the financed amount, annual rate and loan term. Enter the contract’s terms to model the vehicle liability.

Financed principal equals vehicle amount less deposit and net trade-in, plus financed fees. Upfront fees add to total paid without attracting interest. Enter any recurring account fees separately when reconciling the lender’s records.

Your entries stay in this tab and clear on reload.

The default fictional purchase is $42,000, with a $5,000 deposit, $3,000 net trade-in and $450 financed fees. Its financed principal is $34,450. Another $150 is paid upfront.

The arithmetic applies to new cars, older used vehicles and EVs. Vehicle age, including a selected model year such as 2026, does not change the formula.

Bank-branded, motoring-provider, personal and business car repayment calculators all use supplied loan terms. This tool calculates an immediate indicative car loan quote. It does not obtain a provider’s best rate, approval or a lender-issued offer.

A chattel mortgage can use the same entered principal, term and residual calculation. Tax deductions, GST and ownership or security terms require separate treatment under the actual arrangement.

Moneysmart’s car-loan guidance explains how balloon payments lower regular repayments while leaving a lump sum due at the end.

Separate Interest From Principal and Balloon Debt

Each schedule separates interest from the reduction in principal. The final balloon is debt left for a separate payment at maturity.

For end-of-period payments, the periodic rate i is the annual rate divided by 100 and by payments per year. There are 12 monthly, 26 fortnightly or 52 weekly periods per year.

For financed principal P, residual B and n periods, the regular repayment is (P − B ÷ (1 + i)ⁿ) × i ÷ (1 − (1 + i)⁻ⁿ). At zero interest, it is (P − B) ÷ n.

A start-of-period payment divides that regular amount by (1 + i). The first repayment is immediate, and the balloon remains due at the end of the full term.

A five-year vehicle-loan example

The fictional $34,450 loan at 7.5% has 60 monthly payments at a periodic rate of 0.625%. With a $10,000 balloon, its regular repayment is $552.43.

First-month interest is $215.31 and principal reduction is $337.12, leaving $34,112.88. With no balloon, the regular repayment rises to $690.31.

All four examples keep the principal, annual rate and five-year term. The no-balloon example changes only the residual. Each payment frequency is calculated independently, so weekly payments are not monthly payments divided by four.

The schedule keeps full precision between periods. Displayed rows show cents, while interest totals show whole dollars. Adding rounded rows can therefore differ slightly from a displayed total.

Compare Repayments and Reconcile the Liability

Change the comparison rate, term or balloon to test another repayment burden beside the original loan. Enter the same terms in both scenarios to isolate extra repayments.

The default comparison adds $100 monthly from the first payment. It reduces total interest to $7,443 and the final balloon to $2,747. Interest saved is $1,253, with both scenarios still settling at five years.

Extra payments start at the entered regular-payment number. A different extra frequency is placed onto the regular schedule at the first regular payment on or after each extra is due.

For example, weekly extras on a monthly loan accumulate between monthly payments. The first extra is due at the selected starting period. This timing assumption excludes savings from earlier daily receipt.

Large extras can clear the debt and balloon before maturity. The last regular or extra payment is capped at the debt owed. A lower or higher comparison rate also changes the interest-saving figure.

Balance after period 0 is the opening principal. Later balances follow that period’s payments and interest, including any final balloon. After payoff, the scheduled balance is zero.

The CSV preserves both complete schedules with the funding assumptions and extra-payment timing. The page shows the first 120 periods of each schedule.

Original schedule

Comparison schedule

Check the debt against the evidence

Match the selected period to a dated lender statement. Reconcile differences for daily interest, fees and arrears. Request a lender payout figure when an actual settlement amount is needed.

A calculated balance is a scheduled liability. It cannot establish an early repayment charge or a binding payout figure. Total paid includes repayments, balloon and upfront fees, while deposit and trade-in remain separate purchase contributions.

Keep the liability separate from the vehicle’s resale value. The Personal Property Securities Register’s vehicle-finance example explains why a registered security interest needs its own check. This calculator does not search the register.

For property-loan interest and offset scenarios, use the mortgage repayment calculator. Retain the vehicle schedule beside its own finance agreement and lender statement.