This calculator comparison chart is provided for general reference purposes only. It is not in any way intended as a loan application, it is not a quote for finance or any indication that an application has been received or approved. The repayments quoted may not include all the fees and charges that may be applicable. The interest rates and the repayments displayed do not account for any conditions pertaining to your individual loan application. Therefore the interest rate and repayment you may be offered may vary from the amount shown.
If you want the lowest car loan interest rates on the market, the experts at Jade Finance have you covered. However, the loan amount you will be offered is completely dependent on your credit score, loan amount, loan term, loan type, and the specific lender policies.
Our calculation of interest is simple. For example, a $20,000 car loan at a 7% interest rate over 5 years will require a borrower to pay about $396.02 per month. This results in sixty total repayments and $3,761.20 in interest over the course of the loan.
Our car finance repayment calculator is quick and easy to use. Get immediate monthly loan repayments and understand the overall cost of your loan by inputting your loan amount, loan type (secured or unsecured), term and repayment schedule, and the interest rate (if it differs from the autogenerated one). The calculator provides a simple breakdown of your monthly repayments and the overall rate of interest.
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The total amount of money you wish to borrow for your new or used car purchase is known as the ‘borrow amount’. When inputting this amount, it should include any additional costs. These costs can include registration and insurance for the vehicle.
When inputting the interest rate, borrowers should enter the competitive interest rate being offered by Jade Finance for either secured or unsecured credit facilities at that moment. Entering a rate that is representative of your credit profile and the lending market is important because it will significantly affect the repayment amount shown.
In this field of the calculator, you will need to indicate the duration of your loan repayment. Typically, car loan terms range from 1 to 7 years. It is important to know that longer terms lead to lower monthly payments but can increase the overall interest paid, and vice versa.
Car loans can be repaid monthly, bi-weekly, or weekly. In the repayment schedule field, borrowers must decide the repayment frequency that works best for them. The schedule is an important consideration because it can directly impact your cash flow.
Our car loan repayment calculator provides borrowers with an estimation of their repayments, not a finance offer or approval. When you contact us for a quote, the actual loan amount we provide you with may vary to the calculator due to fees and charges imposed by the lender.
Each borrower’s application for funding is different. Our calculator is unable to account for these differences and can lead to the final repayment amount being higher or lower than the estimate provided. Credit score, loan type, rate type and more are all factors that can impact the total amount a borrower may be required to repay.
Our online car loan calculator is designed to calculate repayments with compound interest. It does not work for interest-only loans. By changing the amounts inputted into the calculator, car buyers can physically see how different loan terms will affect their repayment amount.
To get an exact quote or to further explore your loan options, give our Jade Finance team a call or connect with us online.
If you’re in the market for a car loan, our online loan repayment calculator can help you compare various personal loan options. To get started, simply enter and adjust the loan amount, interest rates, and terms to see what works best for you.
Borrowers can choose between fixed or variable interest rates, with each offering unique benefits. Fixed rates provide predictable monthly payments which can assist with budget stability, while variable rates fluctuate, possibly offering significant savings if rates drop.
Available loan types range from 1 to 7 years. Borrowers who opt for a shorter term will experience higher monthly payments but less overall interest, while longer terms result in lower monthly costs but can increase the total interest paid over time.
Our car loan calculator allows borrowers to find the best possible finance for their specific needs and requirements.
We have attempted to set out our car finance calculator in an easy to follow and easy to use format. But we appreciate that users may still have doubts and questions around using this function. It can be a very useful resource in both selecting your vehicle and structuring you finance. We want you to feel confident in using this facility so we have provided responses to some typical queries which some people may have. If you have another question which is not addressed here, please reach out to our consultants at 1300 000 008.
No. The use of the calculator is in no way an application for car loan. Using this function is in no way an indication or inference that a loan application has been submitted, an offer made or a loan approved. It is purely a calculating device to assist with comparing vehicles, comparing loans and planning how you would like your loan structured. In order to formally apply for a car loan, you can apply over the phone or use an online form. There is no obligation to proceed when you commence a loan application or when you request a quote to follow up your use of the calculator.
Yes. The calculator is a general device, set up to calculate repayments on the values as entered. We have the interest rate at our best current rate for vehicle loans. The generic nature of the device is that it provides a useful resource to compare possible repayments on a number of different cars you are considering, to get a rough ballpark on finance or to assist in planning any refinancing. To calculate the estimated repayments to refinance an existing car loan or the balloon or residual, simply follow the same steps. Enter the full loan amount, your preferred loan term and the value of any balloon/residual you choose to include. The calculate configures the repayments and shows a rough estimate on how much would still be owing. When considering refinancing, keep in mind any break fees which may apply to finalising your existing loan early which will be in addition to fees and charges on establishing the new finance contract.
The balloon is a part of the purchase price or loan amount which is deferred for payment after all repayments are finalised at the end of the finance term. This element is an option some finance facilities: for a Secured Car Loan =, Chattel Mortgage and CHP it is referred to as a balloon and with Leasing and Salary Sacrifice as the residual. The concept is the same. It is usually referred to as a percentage but the calculator allows you to enter a fixed dollar value. You can easily see how by varying the amount of the balloon the repayment amount changes. The balloon is due for payment after the last monthly repayment and can be paid either with cash or you can consider refinancing the balloon or residual through the same or a different lender with a new loan.
The most popular choice of loan term for vehicles is 4-7 years but the calculator offers you a range of timeframes to choose from. Lenders may apply a time limit to finance terms but that would be individually addressed and determined by details of the individual application and in some instances, the vehicle being purchased. When using the calculator, you can easily see how varying the loan term changes the repayment amount. If you arrive at a loan term which delivers a repayment amount that meets your best case requirements, you can make a request to a lender for that term as your preference. By selecting an extremely long finance term, the amount owed on the car in the later period of the term may exceed the value of the vehicle, which may be an issue worth considering.
The calculator is a general device and details about the vehicle itself are not required to be entered.Finance is available for all types of cars including popular passenger styles such as sedans, wagons and hatchbacks as well as SUVs. This also includes the popular work vehicles including utes, cab chassis and even light commercial vans. The calculator can be used to calculate repayment estimates for petrol, diesel, hybrid and fully electric vehicles and new and used vehicles.
Jade Finance simple fast approval application process quickly delivers back all the information you need to help you make the right choices on your finance needs. We pride ourselves on delivering better loan interest rates. Simply you will find our loan packages hard to beat.
