Calculate∑ What your result means
Lenders must publish a comparison rate that folds most standard fees into a single annual rate, which is usually higher than the headline advertised rate and gives a more honest view of the loan's true cost.
Australia Car Loan & Comparison Rate Calculator
Compare the advertised interest rate with the comparison rate to see the loan's true cost.
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Verified for 2026-27Methodology 2026-27.1 · reviewed 2026-08-08 · review by 2027-06-01
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Payment timeline
Amortization schedule
Updates instantly when you change an input.
| Year | Payment at advertised rate | Extra revealed by comparison rate | Total |
|---|---|---|---|
| 1 | $3,037 | $15 | $3,051 |
| 2 | $1,575 | $14 | $1,589 |
| 3 | $1,089 | $15 | $1,103 |
| 4 | $846 | $15 | $861 |
| 5 | $701 | $15 | $716 |
Compare scenarios
Change loan term to see how true estimated monthly cost responds.
Understand your result
Clear context for the values above.
True estimated monthly cost
True estimated monthly cost is included so you can interpret this estimate and make a better-informed comparison.
Payment at advertised rate
Payment at advertised rate is included so you can interpret this estimate and make a better-informed comparison.
Extra cost revealed by comparison rate
Extra cost revealed by comparison rate is included so you can interpret this estimate and make a better-informed comparison.
Loan amount
Loan amount is included so you can interpret this estimate and make a better-informed comparison.
How to use this calculator
- 1Enter your current loan amount, advertised interest rate, comparison rate, loan term, balloon / residual payment.
- 2Review the headline true estimated monthly cost and the supporting figures beside it.
- 3Change one input at a time to see which assumption has the biggest effect.
- 4Confirm current Australian rates and thresholds with an official source before acting.
Explore this calculator
What your result means →The headline true estimated monthly cost is based on the inputs currently shown above.Key terms explained →Review the key terms and figures used to calculate this result.How to use this calculator →Enter your figures, review the live result, compare scenarios, then save or print your estimate.The calculation formula →The calculation follows the standard formula for this calculator. Results update whenever an input changes.Worked example →Using the current values produces $716.Assumptions and limitations →Review the assumptions used to produce this estimate before relying on it.Costs or factors not included →Review any costs, fees or rules not automatically included before making a decision.Frequently asked questions →How accurate is this estimate? What should I check before relying on it? Can I save or share the result?
▦ How this calculator works
Both rates are run through the same amortising-loan formula over your chosen term. The advertised-rate figure is the marketed monthly repayment; the comparison-rate figure approximates the same repayment with typical fees built in.
◇ Assumptions and what's not included
The comparison rate is only representative for a standard loan amount and term set by regulation — it may not exactly match your own loan size, and one-off fees like establishment or discharge fees aren't separately itemised here.
▤ What to do next
Compare the loan against any salary-packaged novated-lease quote on the same after-tax, all-cost basis; then compare loan offers using the comparison rate and ask for a complete fee schedule.
Australia-specific contextFigures use AUD and current published rates and thresholds.
Reviewed for clarityUpdated 3 August 2026.
ImportantFor planning and educational use — not tax, legal or financial advice.
Your privacy mattersInputs stay in your browser.
Frequently asked questions
Why is the comparison rate always higher?+
It bundles in standard fees and charges (like establishment fees) that the advertised rate excludes, so it more fully reflects the loan's cost.
Can I use the comparison rate to compare loans of different amounts?+
It's most accurate for loans close to the regulator's standard comparison amount and term — for very different loan sizes, the true fee impact can differ from the published rate.
Does a lower comparison rate always mean a cheaper loan for me?+
Generally yes for similar loan sizes and terms, but always check for fees not required to be included in the comparison rate, like early exit fees.
Is the interest rate here fixed or variable?+
This works for either type — it assumes the rate stays constant for the full term you enter.
Should I compare a novated lease?+
If your employer offers salary packaging, compare its after-tax total cost, running-cost bundle, residual and employment-change risk against this loan—not only the advertised fortnightly deduction.
Official references
Rules and thresholds used by this calculator are labelled for 2026–27 or formula-labelled period. Review the primary guidance before making a filing, borrowing, benefit or investment decision.
Last source review: 3 August 2026. Calculator results are estimates and may exclude circumstances described in the methodology.