Handy Finance Car Loan Calculator
How much can I afford?
I can afford
Your input indicates possible affordability up to
This is based on weekly payments of $2,000 for 7 years, at 6.3% interest. Click below to begin a finance application.
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4 quick and easy steps to securing your car loan pre-approval
Take a pre-approval with you for your next purchase.
Apply online
Get pre-approval
Make a plan
Repay when ready
Removing barriers for what you need
Get approval in minutes to purchase what you need today.
Minimum Eligibility Criteria
Who can apply for a car loan?
- Must be over 18 years
- Australian Permanent Resident or Australian Citizen
- Must receive employment income
- Must be for consumer use only
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Car Loans Explored
Drive your dream car sooner. Our car loan calculator makes it easy to estimate your repayments and find the perfect loan for your budget. Get started today and hit the road with confidence!
Frequently asked questions
Need help with something? Here are our most frequently asked questions.
How does car finance work?
Car financing simplifies the process of buying a new car without the need for a significant upfront payment. With a car loan, you borrow the amount needed to purchase the vehicle and gradually repay the amount over a specified period with interest. This approach makes buying a car more manageable as you can spread the cost over several months or years to fit your budget. At Handy Finance, we offer car loans with terms ranging from one to seven years.
What are the benefits of a car loan?
Choosing a car loan from Handy Finance makes buying a car hassle-free. It allows you to break down the cost of your new vehicle into smaller, regular payments over an extended period, eliminating the need for a large upfront payment. Other advantages include reduced initial expenses, a broader selection of car models, and the potential to improve your credit score by making timely payments.
How often can you use a car loan calculator without affecting your credit score?
You can use a car loan repayment calculator as frequently as needed without affecting your credit score. These vehicle finance calculators are useful tools for estimating loan costs and repayments before applying for a loan.
What’s the difference between a secured and unsecured car loan?
Choosing a car loan from Handy Finance makes buying a car hassle-free. It allows you to break down the cost of your new vehicle into smaller, regular payments over an extended period, eliminating the need for a large upfront payment. Other advantages include reduced initial expenses, a broader selection of car models, and the potential to improve your credit score by making timely payments.
Can you get pre-approved for car finance?
Handy Finance offers pre-approval for car loans – you can apply online. Pre-approval terms are based on your financial circumstances, unlike the car loan repayment calculator figures, which only provide a rough estimate.
A pre-approval requires you to submit your financial details, as it involves a thorough check to determine how much you can borrow before you begin car shopping. This process makes selecting a car easier and faster, as you’ll have a clear budget based on your eligibility.
How does car loan pre-approval work?
Car loan pre-approval with Handy Finance is a straightforward process. You submit an application, and our team reviews your financial situation and credit history to determine how much you can borrow. This pre-approval is based on your eligibility, and the indicative quote you receive gives you a clear idea of your borrowing power.
Can I get pre-approval before choosing a car?
You can get pre-approval from Handy Finance before deciding on a specific vehicle. This lets you understand how much you can borrow before you start shopping for a car, making it easier to browse around dealerships and private sales. Your pre-approval terms are valid for one month – once this time has passed, we’ll need to reassess your application.
What documents do you need for a car loan?
When applying for a car loan, you’ll typically need to provide standard documents such as proof of identity, bank statements, and details about the vehicle you plan to purchase.
What is a secured car loan?
A secured car loan from Handy Finance means that the car you buy serves as a guarantee for the loan. Typically, you’ll get a lower interest rate, making secured loans more appealing and budget-friendly. Using an asset as collateral for your car loan often leads to a smoother and more straightforward loan approval process since we have more security.
Do you need a deposit for a car loan?
We don’t require a deposit for your car loan at Handy Finance. We offer flexible loan options to fit your budget and simplify your car buying process.
What is a comparison rate, and why calculate it?
A comparison rate reflects the actual cost of a loan, as it includes both the interest rate and an establishment fee. At Handy Finance, the only fee you need to include is the establishment fee, as our loans don’t have any ongoing or early repayment fees. Calculating the comparison rate helps you make an informed decision when comparing different car loan options and budgets. It ensures you understand the total cost of borrowing and can choose the most cost-effective loan for your needs.
How soon will the funds be available after being approved for a car loan?
Once your car loan is approved with Handy Finance, you can expect the funds to be available in your account within 24 hours. This quick turnaround ensures you can get on the road in your new vehicle without unnecessary delays.
What are the loan terms when financing a new or used car?
The loan terms for new and used cars are the same at Handy Finance. We don’t have any vehicle age limits on the cars you choose to purchase either. Handy Finance Car Loans offer flexible loan terms, ranging from one to seven years. Repayments can be made weekly, fortnightly or monthly. This variety allows you to select a loan term that aligns with your budget and financial goals.
What is a balloon payment?
A balloon payment is a large sum of money you agree to pay at the end of your car loan in order to reduce your monthly repayments. Balloon payments can affect how much you pay overall for your car, so it’s crucial to understand them before getting a loan. Handy Finance does not offer balloon payment options for any of our loans.
What counts as a new car?
A new car typically refers to a never owned or registered vehicle. It’s brand new from the manufacturer or dealership, with no prior owners or usage. However, it’s important to remember that if a used car aligns more closely to your budget, you can still use a Handy Finance car loan to purchase a used car.
Can there be two applicants on a car loan?
A joint loan with Handy Finance is a great way to spread the cost of a car loan between you and another person. You can apply for a joint loan with your partner, spouse, parent or sibling. The same loan terms of one to seven years apply, and you can apply for a loan amount between $2,001 and $75,000. The terms of the loan are based on your combined financial circumstances. Find out more about our joint loans by contacting our credit experts today.
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