Car Loan Calculator
If you've already estimated repayments, learn about our car loan rates and features.
Or estimate your repayments using your personalised rate.
The above calculator is for loans where the car you’re buying is offered as security and is:
- less than 7 years old
- Made locally or imported by the manufacturer
- Never written off or stolen
- Comprehensively insured.
Not right for you? Take a look at our Unsecured Personal Loan below.
Where are you on your car finance journey?
Whether it’s your first or your fiftieth purchase, being on-top of the financials for a car is as important as its features. And doing so before hitting the dealerships could save you big-time. So which stage are you at?
1. Doing initial research
Asking questions here will give you a better overview of your options. What types of car finance are out there? How much could you borrow? Have you considered all the potential costs?
2. Choosing a finance option
It’s time to get serious about the money. Before you sign anything, or head to a dealer, find out how to get a car loan. You might also want to find out more about secured car loans.
3. Preparing to apply
Found ‘the’ car? Getting the details right before you apply will make it more likely your application is approved – whether you’re buying new or used, privately or from a dealer.
Unsecured Personal Loan or Car Loan? Get help choosing
| Unsecured Personal Loan | Car Loan | Car Loan for electric/hybrid |
|---|---|---|
| Key difference | ||
| Consider this loan if the car you want is more than 7 years old, you want a motorbike, caravan or something else, or you don’t want to offer the car as security. | As this loan’s secured against your car, you get a lower rate than our Unsecured Personal Loan^^. | For eligible electric or hybrid cars. As this loan’s secured against your electric or hybrid car, you get a special lower rate^^ |
| You could borrow | ||
| $4,000 - $50,000 | $10,000 - $100,000 | $10,000 - $100,000 |
| Interest rate | ||
| From 7.99% p.a. (comparison rate 9.18% p.a.^) fixed | From 6.49% p.a. (comparison rate 7.69% p.a.^) fixed | 5.99% p.a.~ (comparison rate 7.20% p.a.^) fixed |
| Repayment terms | ||
| 1-7 years | 1-7 years | 1-7 years |
| Security | ||
| Not required | The car you’re buying | The car you’re buying |
| Car eligibility | ||
| Any car (or motorcycle) | Less than 7 years old Comprehensively insured |
Electric or hybrid car only. To be eligible, the car must be:
|
| Find out more | ||
| Go to Unsecured Personal Loan | Go to Car Loan | Go to electric/hybrid Car Loan |
All three loans come with...
- A term of 1-7 years
- A fixed rate, so you’ll know what your repayments and loan end date will be
- Fast funds – distributed electronically as soon as you sign the contract
- Choice of repayment frequency – weekly, fortnightly or monthly, to work with when you’re paid
Things you should know
Personal Loan Contract Terms and Conditions (PDF 394KB) - for customers approved before 18 March 2024.
Personal Loan Contract Terms and Conditions (PDF 210KB) - for customers who apply, or are approved, on or after 18 March 2024.
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information is correct as of 20 March 2024.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- Unsecured Personal Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on an unsecured loan of $30,000 borrowed for 5 years with the interest rate of 7.99% p.a. (comparison rate 9.18% p.a.), the estimated total amount payable including fees is $37,513. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 7.99% p.a. to 20.49% p.a. (comparison rate from 9.18% p.a. to 21.61% p.a.)
- Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 6.49% p.a. (comparison rate 7.69% p.a.), the estimated total amount payable including fees is $36,224. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 6.49% p.a. to 12.99% p.a. (comparison rate from 7.69% p.a. to 14.14% p.a.)
**Repayment calculator: Any calculations made by you using this calculator is intended as a guide only. It is for illustrative purposes only and is based on the accuracy of the information provided. The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan. Weekly and fortnightly repayment calculations – if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 and rounding up if required ($1000 ÷ 2 = $500). Weekly repayments are calculated by dividing $1000 by 4 and rounding up if required ($1000 ÷ 4 = $250).
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
^^To qualify for a Car Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant's name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only. The loan amount may exceed the vehicle's market value, as reported by Redbook, to cover the purchase price of the vehicle and other expenses. If you're using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles. (PDF 2MB)
~Car Loan for eligible Electric or Hybrid engine types is subject to an interest rate discount of 0.5%, applied at the time of application. Electric and Hybrid Car Loan interest rate, inclusive of 0.5% discount, is 5.99% p.a (comparison rate 7.20% p.a.^)
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.