Calculate Australian car finance repayments including on-road costs, stamp duty on vehicle, and trade-in value.
Optional On-Road Costs
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Car loans in Australia are available as secured loans (the vehicle acts as collateral), unsecured personal loans, or novated leases through your employer. Secured rates are generally lower.
Each Australian state charges stamp duty when you transfer a vehicle. In Victoria, duty is $8.40 per $200 of market value for vehicles under $71,849. Rates differ by state — check your state's revenue office.
A novated lease allows you to pay for a car with pre-tax salary, reducing your taxable income. The employer makes lease payments on your behalf. This can be very tax-effective for employees in higher income tax brackets.
A balloon (or residual) payment is a lump sum due at the end of the loan. It lowers your monthly repayments but means you owe a large amount at the end of the term. You can pay it, refinance, or sell the car to cover it.
Australian lenders must show a comparison rate. Always compare the comparison rate, not just the advertised rate, to understand the true cost of the loan.