Car Loan Calculator — Australia (Balloon & Fees)
Australian car loan repayments monthly, fortnightly or weekly with a balloon payment, establishment and account fees, total interest and cost of credit, a fee-inclusive comparison rate and the no-balloon alternative.
| Amount financed | — |
|---|---|
| Balloon due at the end | — |
| Total interest | — |
| Total fees | — |
| Total cost of credit | — |
| Comparison-style rate (incl. fees) | — |
| Without the balloon | — |
| Total paid for the car | — |
In short
A $40,000 Australian car loan at 7.99% over five years costs $811 a month plus a $10 account fee, $8,652 of interest and $995 of fees (a fee-inclusive comparison rate near 8.9%); a 30% balloon cuts the repayment to about $648 but raises interest to roughly $10,850 and leaves $12,000 owing at the end.
Who this is for: Car buyers comparing dealer finance, bank and credit-union loans on total cost, including balloon offers.
Car loan repayments with a balloon
A car loan is a standard amortising loan, but Australian lenders add three things: an establishment fee ($250–$500), a monthly account fee ($5–$15) and often a balloon — a lump sum of 20–40% of the amount financed due at the end, which cuts the monthly repayment but leaves you owing it in year five. The calculator prices the repayment with the balloon, shows the interest it adds compared with a loan without one, and works out a comparison-style rate that includes the fees so two offers can be compared on one number.
The total cost of credit — interest plus fees — is the figure to compare across dealer finance, bank loans and credit unions; a 6.99% rate with a $395 fee, $10 a month and a 30% balloon can cost more than an 8.49% loan with none of them.
See also: Car Payment Calculator — Auto Loan with Trade-In & Tax, Auto Loan Refinance Calculator, Pay Calculator Australia 2026–27.
Assumptions
- Monthly amortisation with the balloon as a final lump sum; fortnightly/weekly repayments are proportional conversions.
- Comparison-style rate solves for the rate that reproduces the repayments after deducting the establishment fee and adding the monthly fee.
- Fixed rate, no early-exit costs, no insurance or extras.
- Total paid = deposit + repayments + balloon + fees.
Worked example
Amount financed $40,000. Repayment $811 a month plus the $10 fee = $821. Interest $8,652; fees $995; total cost of credit $9,647; comparison-style rate about 8.93%. Total paid for the car $54,647. With a 30% balloon ($12,000) the repayment falls to about $648 but interest rises to roughly $10,850 and $12,000 is still owed at the end.
Frequently asked questions
What is a balloon payment?
A lump sum (often 20–40% of the loan) due at the end of the term; it lowers monthly repayments but you pay more interest and must find the lump sum, refinance it or sell the car.
What is the comparison rate?
A legally required rate that includes most fees, calculated on a $30,000 5-year loan for car finance; use it to compare lenders, not to predict your exact payment.
Can I pay a car loan off early?
Usually yes; fixed-rate car loans may charge an early termination fee (often a few hundred dollars plus a break cost).
Secured or unsecured?
Secured loans (the car is collateral) are 2–5 points cheaper; most lenders secure loans on cars under 7–12 years old.
Is a novated lease cheaper?
It can be for salaried employees, especially for EVs exempt from FBT; see the novated lease calculator for the after-tax comparison.
Does the deposit change the rate?
Often — a 10–20% deposit or trade-in lowers the loan-to-value ratio and can unlock a lower rate tier.
Can I claim car-loan interest?
Only for the business-use share of a car used for work, under the logbook method; private use is not deductible.
Should I take dealer finance?
Compare its total cost of credit and comparison rate with a pre-approved bank or credit-union loan — dealer rates are often negotiable.
Related calculators
See all Australia calculators → · All free online calculators
Found an error? Report it — tell us the inputs, the result you got, what you expected and the rule or source. Confirmed corrections are published within a week.