Calculating a car loan in Australia is about as fun as watching paint dry, but let’s get it over with. You’ll need the loan amount, interest rate (usually between 5-12% APR), and the loan term in months. Plug those into a loan calculator, and you’ll get your monthly repayments. Remember, the total cost includes interest, so the sticker price isn’t the end of your wallet’s misery.
For a ballpark, a $30,000 loan at 7% over 5 years will cost roughly $600 a month. Used car loans might have higher rates, and new cars often come with special offers, sometimes even 0% APR if you’re lucky. Check out Tradingpost or CarShowroom for loan calculators and current deals.
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