Personal Loan Calculator - Compare interest rates, repayments, and fees

How does the Car Loan Calculator Work?

Our vehicle loan calculator works in a very simple way. First, you enter the loan amount, which is how much money you want to borrow. If you’re buying a used vehicle, you should make sure this amount leaves you a bit of spare cash for service and maintenance.

Then, you input how long you’d like to repay the loan. You can choose anywhere from one to ten years, but keep in mind that the longer you take to repay your loan, the higher the interest will be, so make sure you go for the shortest time that you can afford.

Last but not least, you can choose whether you’ll be repaying the loan amount and interest weekly, fortnightly, or monthly. Weekly will give you the best interest rates, although the difference might not be that big when it comes to the total amount. Choose what you’re most comfortable with.

Compare Interest Rates With the Car Loan Calculator

Arguably the key aspect of our car finance calculator is how easy it is to compare interest rates and repayment length and intensity. Even if we take the same lending criteria for each finance provider, the interest rates and loan terms will hardly be the same for each of them.

Playing with the repayment time and periods will increase or decrease the repayment amount, and you can calculate what number works for you best. Of course, it should be a number you can afford, for a duration of time that you can afford.

Here’s where things get interesting - our calculator allows you to have, at a glance, all the numbers from the most popular investing and financing companies in New Zealand. You can easily compare interest rates, repayment amounts, and you’ll instantly see things like establishment fees, monthly service fees, and whether or not you’re looking at a secured loan or not.

These are all things that can significantly impact the loan itself as well as which provider you decide to go for, so make sure you use the parameters wisely to get the best possible offer.

Car Loan Calculator Disclaimer

The information you get from our car loan calculator is only intended to be used as a guide. It is not an official or unofficial offer and has no legal effect on any contracts you might enter into. Using the calculator does not constitute a loan application or loan offer, and the figures and formulas may change at any moment without previous notice.

We accept no responsibility for any losses that may arise from relying upon any calculations that you might’ve reached by using our loan calculator.

Car Loan Calculator FAQs

Can I Pay Out My Loan Early?

Yes, most car loan providers allow you to pay out your loan early. Some may even reduce the interest rates, although that varies on a per-case basis.

Are Your suggested Options the Best to Choose?

We made sure to include all popular New Zealand options when it comes to car loans. Of course, that means that some of them will have worse terms than others, so it is up to you to pick the one that gets you the best offer for the loan you need.

Why Compare Car Loans with Glips?

Because we give you, at a glimpse, a complete overview of all the fees and interests of all popular car loan providers, allowing you to compare them without needing to dig through their websites or call for offers.

What APR is too high for a car?

The answer to this depends on how big of a loan you need and how long you’ll be repaying it for. What might seem like an extremely high APR for one loan may very well be a great number for another loan.

What is the minimum down payment for a car loan?

The minimum down payment for a car loan depends on which loan provider you opt to go with. Some may even allow you to get a loan without a down payment, although that’s not always a good idea.

What is a good interest rate on a car loan?

There’s no clear answer to this. A great interest rate on one car loan might be disastrous on another one, so it all depends on the specific terms of the loan.

What car loan can I be approved for?

Depending on your income and credit rating, you can be approved for a variety of car loans. You can use our calculator to see what the numbers are, and then reach out to the provider that piques your interest best to check for availability.

Is a car loan better than finance?

Yes and no. This all depends on the loan amount and interest rates, as well as the vehicle you’re interested in purchasing.

What are the documents required for car loan?

While all providers will require you to provide some form of identification, such as a government-issued ID or a drivers’ license, the rest of the documents depend on the specific provider.

Can I get car loan without ITR?

In most cases, yes, but keep in mind that getting a loan without an ITR will get you an unsecured loan, and the interest rates might be a bit higher. Use our car loan calculator to look at options for both secured and unsecured loans.