Whether you’re buying new or used, a car loan calculator helps you understand exactly what you’ll pay before you sign anything. Here’s everything you need to know about car loans in Australia in 2026.
Current Car Loan Rates — April 2026
| Lender | Rate From | New/Used | Loan Amount |
|---|---|---|---|
| AutoPay | 5.99% | New | $5k–$150k |
| Wisr | 6.95% | New & Used | $5k–$64k |
| Plenti | 7.39% | New & Used | $5k–$100k |
| Latitude | 8.99% | New & Used | $5k–$100k |
| ANZ | 9.95% | New | $5k–$150k |
| CBA / NAB | 10.99%+ | New & Used | $5k+ |
Car Loan Repayment Examples
| Loan Amount | Rate | 3 year | 5 year | 7 year |
|---|---|---|---|---|
| $20,000 | 6.95% | $617/mo | $396/mo | $301/mo |
| $35,000 | 6.95% | $1,080/mo | $693/mo | $527/mo |
| $50,000 | 6.95% | $1,543/mo | $990/mo | $753/mo |
New vs Used Car Loans
New car loans typically get lower rates because the vehicle is worth more and loses value more predictably. Used car loans (for cars more than 5 years old) usually attract a 1–3% higher rate. If you’re buying a used car over 10 years old, some lenders won’t finance it at all — check before applying.
5 Tips to Get the Best Car Loan Rate
- Check your credit score first — lenders quote “rates from” but your actual rate depends on your credit history
- Get pre-approval before visiting a dealer — dealers mark up finance; knowing your rate gives you negotiating power
- Avoid balloon payments — they reduce monthly repayments but leave a large lump sum at the end
- Shorter loan terms cost less overall — a 3yr loan at 7% costs much less than 7yr at 7% despite same monthly feeling
- Compare comparison rates — the comparison rate includes fees and better reflects true cost
Calculate Your Car Loan Repayments
Enter any loan amount and rate to see your exact monthly repayments.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional before making financial decisions.