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Car Loan Calculator

Calculate car finance repayments with deposit, trade-in, fees and an optional balloon payment.

  1. Enter your numbers
  2. Results update as you type
  3. Copy the answer or share the link
Runs in your browser. Your data and files never leave your device.

About the Car Loan Calculator

Work out repayments on a car loan after your deposit and trade-in, with on-road costs financed if you like, and see how a balloon (residual) payment lowers repayments — and what it costs in extra interest.

How does the Car Loan Calculator work?

A balloon is a lump sum left owing at the end of the loan. Because that amount is never paid down, you pay interest on it for the whole term.

Car Loan Calculator formula

PMT = (P − B ÷ (1 + r)^n) × r ÷ (1 − (1 + r)^−n)

B is the balloon amount; with no balloon this is the standard loan repayment formula.

Frequently asked questions

Is a balloon payment a good idea?

It makes repayments smaller but the total cost higher, and you need to be able to pay or refinance the lump sum at the end.

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