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Handy Finance Car Loan Calculator

Calculator
Calculator
$25000
4 Years
Select repayments type
Your Repayments From
$254.85
per week
This will not impact your credit score
Indicative Rate From
6.57%
Comparison Rate From
7.19%
The interest rate and repayment amount are estimates only and are based on the information you have provided. Your actual interest rate and repayment amount may be different. Terms and conditions, fees and charges and eligibility and lending criteria apply.
Amount
Amount + Interest
The interest rate and repayment amount are estimates only and are based on the information you have provided. Your actual interest rate and repayment amount may be different. Terms and conditions, fees and charges and eligibility and lending criteria apply.

How much can I afford?

I can afford

$0
4 Years
Select repayments type

Your input indicates possible affordability up to

$589,073.27

This is based on weekly payments of $2,000 for 7 years, at 6.3% interest. Click below to begin a finance application.

A quote won’t impact your credit score

4 quick and easy steps to securing your car loan pre-approval

Take a pre-approval with you for your next purchase.

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Apply online

Complete your application online. Submit all of the required documentation.
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Get pre-approval

Our dedicated team will come back to you within hours and provide you with the amount best suited for your needs.
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Make a plan

Think about when and how to make the most out of your loan – we’ll hold your funds for up to a month.
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Repay when ready

When you are ready to get started, settle your loan within as little as 24 hours.
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Removing barriers for what you need

Get approval in minutes to purchase what you need today.

  • Low rate

    Low Rates

    We’re committed to giving you the best and taking the stress out of borrowing, allowing you to enjoy life to the fullest.

  • Document

    No Hidden Fees

    Handy Finance fees are completely transparent, giving you complete control over your finances.

  • Dollar

    Simple and Flexible

    Repay your loan however is best for you – weekly, fortnightly or monthly, for up to 7 years.

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    Quick Applications

    An application process entirely online, with pre-approval in minutes.

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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A quote won’t impact your credit score

Handy Guide

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!

Handy Guide

How can our car loan repayment calculator help you?

Are you considering financing a new vehicle? Our car finance repayment calculator is a valuable tool to simplify loan decision-making. It lets you estimate your potential repayments quickly and easily. It’s your first step in understanding how different loan terms and interest rates can impact your budget. With just a few clicks, you can gain insights into your future car loan, empowering you to make well-informed decisions.

It’s important to remember that the figures provided by our car loan repayment calculator are estimates based on the information you input. Actual loan terms, interest rates, and fees may vary, so consulting with a credit expert from our team is recommended to fully explore your options.

Understanding the impact of credit history on car loans

When considering a car loan, your credit history plays a pivotal role in determining the interest rates available to you. A higher credit score usually results in more favourable loan terms, such as lower interest rates, potentially leading to substantial savings over the loan’s duration. Knowing how your credit rating can impact your car loan is essential.

To make an informed decision, start by checking your credit rating to understand how you look to a lender. Knowing your credit rating can help you figure out your eligibility for various loan offers and improve your chances of accessing better loan terms. From there, you can use our vehicle finance calculator to get a more accurate estimate and then move on to your pre-approval.

Understanding car loans and their considerations

Securing a car loan involves several critical considerations, which, when understood collectively, empower you to make informed decisions and select the most suitable car finance option for your needs.

  • Fees and Charges: When exploring car finance options, it’s crucial to be mindful of any additional fees or charges that may apply. These costs encompass establishment fees, ongoing account-keeping, and early repayment fees. It’s essential to factor these expenses into your overall loan comparison. At Handy Finance, none of our car loans (or personal loans!) have any ongoing or early repayment fees.
  • Insurance: Car insurance is a fundamental aspect that all vehicle owners must consider. Budgeting for comprehensive insurance coverage is essential, as it safeguards your investment from potential risks like accidents, theft, or damage.
  • Running Costs: Besides the loan, car ownership means ongoing expenses such as fuel, servicing, maintenance, and registration fees. These expenditures can accumulate over time, necessitating careful budgeting alongside your loan repayments.
  • Depreciation: It’s important to recognise that vehicles typically depreciate in value over time. Assessing the depreciation rate for your chosen car model is wise, as it can impact its long-term value and potential resale worth.

By taking into account these critical factors and conducting comprehensive research, you can make well-informed decisions when selecting a car finance option that aligns with your financial objectives and budget.

Frequently asked questions

Need help with something? Here are our most frequently asked questions.

Basics of car loans

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.

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.

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.

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.

Loan application and pre-approval

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.

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.

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.

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.

Loan terms and features

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.

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.

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.

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.

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.

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.

Eligibility and vehicle specifications

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.

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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Have questions? Handy Finance can help

For more information about loans with Handy Finance, check out our helpful resources, get in contact with our team on 1300 990 115 or complete our online enquiry form.

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