See your monthly repayment, total interest, and whether dealer finance or your bank actually costs less.
Car Price (drive-away)
Full on-road price including dealer costs
Deposit + Trade-in
Cash deposit plus any trade-in value
Interest Rate (% p.a.) 7.5%
Comparison rate — ask your lender
Balloon Payment 0%
% of car price as lump sum at end
Loan Term
Monthly Repayment
$0
48 monthly payments of $0
Loan amount
$0
Total interest
$0
Total cost
$0
Balloon payment:$0 due at the end of your term — in addition to your monthly repayments. Balloons reduce monthly payments now but you must pay a lump sum at the end (refinance, sell, or pay cash). Total cost including the balloon is shown above.
⚡ Dealer finance vs your bank
Dealer rate:% p.a.
Bank rate:% p.a.
Monthly: Principal vs Interest
What is a balloon payment on a car loan?
A balloon payment is a lump sum due at the end of your loan term — typically 10–30% of the vehicle price. It reduces your monthly repayments during the loan period but means you owe a large amount at the end. You can pay it with savings, refinance it into a new loan, or sell the car. Common in dealer finance and novated leases.
Dealer finance vs bank loan — which is better?
Dealer finance is convenient but typically carries a higher interest rate (8–12%) than a bank or credit union car loan (6–9%). Even a 2% difference on a $35,000 loan over 5 years costs ~$1,900 more in interest. Always get pre-approval from your bank before visiting the dealer — it gives you negotiating power and a rate benchmark.
What does comparison rate mean?
The comparison rate includes both the interest rate AND most fees (establishment fee, monthly service fees) expressed as a single annual percentage. By law in Australia, lenders must display the comparison rate alongside the advertised rate. Always use the comparison rate when comparing loans — the advertised rate can be lower but the comparison rate shows the true cost.