Car finance calculator
Work out your repayments before you're standing in a dealership. Add a balloon payment if you're comparing a lease-style deal.
What this means for you
See how much of the total cost is interest, and how a bigger deposit would change your monthly payment.
Compare scenarios
See how a bigger deposit or a shorter term would change your payment and total interest.
| Scenario | Repayment | Total interest | Total cost |
|---|---|---|---|
| Current | $0 | $0 | $0 |
| Bigger deposit (+$3k) | $0 | $0 | $0 |
| Shorter term (−2yr) | $0 | $0 | $0 |
A shorter term isn't available below 1 year — if your current term is already at the minimum, that row will match your current scenario.
Assumptions & sources
Typical NZ car loan interest rate ranges from banks, credit unions, dealer finance and specialist lenders.
1 July 2026
17 July 2026
Standard reducing-balance loan amortisation, compounding monthly, with an optional balloon payment due at the end of the term.
Loan principal and interest, plus any balloon payment.
Establishment fees (often $200-$450), PPSR registration fees, and any account-keeping fees most lenders charge on top of interest.
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Read article →How NZ car loan rates work
Car finance rates in New Zealand vary widely by lender and borrower profile. Major banks and credit unions commonly advertise rates from around 7-9% p.a. for well-qualified borrowers, non-bank and specialist lenders often start a little higher, and rates can run up to 19.9% or more for higher-risk applicants. Dealer finance is convenient but frequently carries a mark-up over what you'd get with a pre-approved loan from a bank or broker, so it's worth comparing before you're at the dealership and emotionally invested in a specific car.
Most lenders also charge an establishment fee (commonly $200-$450) and sometimes a PPSR registration fee and monthly account fee — none of which are included in the repayment estimate above, so ask for the total cost of credit, not just the interest rate, when comparing offers.
Example: Financing a $22,000 used Toyota in Dunedin
Liam is financing a $22,000 used Toyota RAV4 in Dunedin with a $3,000 deposit, leaving a $19,000 loan.
At 9.9% p.a. over 5 years, his estimated repayment is approximately $403 a month.
Over the full 5 years, he'd pay approximately $5,160 in interest on top of the $19,000 he borrowed — almost 27% more than the loan amount, before counting the dealer's establishment fee.
That's the real cost of spreading a car purchase over 5 years — worth weighing against a shorter term (higher monthly payment, less total interest) or a bigger deposit if either is realistic for his budget.
Frequently asked questions
Around 7-9% p.a. is competitive for well-qualified borrowers through a bank or credit union in 2026. Rates up to 19.9%+ are common for higher-risk borrowers or through dealer/specialist finance.
A lump sum left owing at the end of the loan term instead of paying it off in full over the term. It lowers your regular repayments but leaves a large final payment to settle, refinance, or cover by trading in the car.
