Bank First car loan repayment calculator

Thinking about taking out a car loan with Bank First? Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Bank First car loans compare with other options.

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 5.29 %

Total interest payable

$0

Total amount payable

$0

Bank First car loans rates

Advertised Rate

5.29%

Variable

Comparison Rate*

5.56%

Company
Bank First
Monthly repayment

$570

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

5.29%

Fixed

Comparison Rate*

5.56%

Company
Bank First
Monthly repayment

$570

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

5.79%

Variable

Comparison Rate*

6.06%

Company
Bank First
Monthly repayment

$577

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

5.79%

Fixed

Comparison Rate*

6.06%

Company
Bank First
Monthly repayment

$577

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

6.79%

Variable

Comparison Rate*

8.12%

Company
Bank First
Monthly repayment

$591

Upfront Fee

$195

Loan amount

From $5k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

6.79%

Fixed

Comparison Rate*

8.12%

Company
Bank First
Monthly repayment

$591

Upfront Fee

$195

Loan amount

From $5k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

8.29%

Variable

Comparison Rate*

8.57%

Company
Bank First
Monthly repayment

$612

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

8.29%

Fixed

Comparison Rate*

8.57%

Company
Bank First
Monthly repayment

$612

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

8.79%

Fixed

Comparison Rate*

9.07%

Company
Bank First
Monthly repayment

$620

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

8.79%

Variable

Comparison Rate*

9.07%

Company
Bank First
Monthly repayment

$620

Upfront Fee

$195

Loan amount

From $10k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

9.79%

Fixed

Comparison Rate*

11.15%

Company
Bank First
Monthly repayment

$634

Upfront Fee

$195

Loan amount

From $5k

Total repayments
Go to site
Company
Bank First
More details
Advertised Rate

9.79%

Variable

Comparison Rate*

11.15%

Company
Bank First
Monthly repayment

$634

Upfront Fee

$195

Loan amount

From $5k

Total repayments
Go to site
Company
Bank First
More details

Learn more about Bank First

What is proof of income?

Before giving you a car loan, lenders will ask for proof of income – documentary evidence that you earn as much as you claim you earn. Lenders will typically want some combination of tax returns, pay slips and bank statements. The reason lenders want proof of income is because they want to be sure you have the means to repay the car loan.

Can I get a no credit check car loan?

You may be able to get a no credit check car loan in certain circumstances, although it’s important to weigh up your options before doing so.

Most lenders refuse to provide no credit check car loans, because they don’t want to give loans to borrowers without first confirming that they have a track record of repaying debts. So any lenders that do provide no credit check car loans would take measures to protect themselves against the risk of default.

That’s why no credit check car loans have higher interest rates than other car loans. Also, borrowers often have to provide security and put down a larger deposit.

What is CTP insurance?

CTP insurance, also known as compulsory third-party insurance or a green slip, is compulsory if you want to register a vehicle in Australia. If you’re responsible for a car accident, your CTP insurance will be used to pay any compensation due to anyone who might be injured or killed. However, CTP insurance doesn’t cover you for vehicle damage or theft.

Where can I find lenders who offer no credit check car loans?

You can find lenders who offer no credit check car loans through comparison sites like RateCity or by doing an online search.

One thing to bear in mind is that lenders who offer no credit check car loans are likely to charge higher interest rates and higher fees than on car loans that include a credit check. Also, lenders who no credit check car loans might expect you to pay a higher deposit. You might also be expected to provide security.

Lenders regard no credit check car loans as riskier than other car loans, which is why it’s a niche product that often features special conditions.

How much is your car worth?

If you already own a car, you could potentially bring down the cost by selling your car in the process. Before that happens, though, you’ll need to find out how much your car is worth.

One of the first places to find this value is to research the value of your current car, giving you an idea of roughly how much it’s worth in its peak condition.

There are plenty of websites that offer a free online valuation, allowing you to enter your car’s make, model, year, badge and description, with results listing a price guide based on both selling your car privately and through a dealership.

Of course, dealerships will try to profit on your trade-in by buying it for less than they can sell it, making it highly unlikely that you’ll get the same price selling a car to a dealer as you would selling a car privately.

However, private car sales can be costly and can take months to sell, making car trading more convenient with a guaranteed return, even if you may not be able to realise the total value of your car’s worth.

Remember that everything is negotiable. If the dealership is offering you less for your trade than you wanted, try to negotiate elsewhere to gain that money back. Start by negotiating on the price of the trade and then ask them if they can give you a further discount on your new car.

What is a dealership?

A dealership is a car yard or a place where cars are sold.

What is dealer finance?

Dealer finance is a car loan organised through a car dealer – as opposed to car loans organised by a finance broker or directly by the lender.

What is salary packaging?

Salary packaging is an arrangement you can make with your employer that can allow you to buy a car from your pre-tax salary. The advantage of salary packaging is that it will redue your taxable income.

What is an establishment fee?

Some lenders will charge you an establishment fee, or one-off upfront fee, to cover the cost of setting up your car loan.

What is residual value?

The residual value of a car is how much it will be worth at the end of a lease period. Finance companies need to calculate a car’s residual value before they can know how much to charge during the lease period. For example, if a financier calculates that a $30,000 car will have a residual value of $16,000 at the end of a five-year lease, the financier will know that it must charge $14,000 to break even on the lease – and more to make a profit.

What is a commercial hire purchase?

A commercial hire purchase, or CHP, is an arrangement by which a finance company buys a car on your behalf. You get to borrow the car in return for making regular payments to the financier. Once the final payment is made, you take ownership of the car. 

What is collateral?

Collateral, or security, is an asset you agree to surrender to a lender if you fail to repay a loan. Generally, the collateral for a car loan is the car itself. So if you fail to repay the loan, the lender might seize your car, sell it and then use the proceeds to recover their debt.

What is an upfront fee?

An upfront fee is a one-off fee that many lenders charge when you take out a car loan.

What is a loan-to-value ratio?

The loan-to-value ratio, or LVR, is a percentage that expresses the amount of money owed on the car compared to the value of the car. For example, if you take out a $15,000 loan to buy a $20,000 car, you have a loan-to-value ratio of 75 per cent. Loan-to-value ratios change over time as you pay off your loan and your car depreciates in value. For example, two years later you might now owe $10,000 on your car, which might now be worth $15,000. In that case, although there would still be a $5,000 difference between the size of the outstanding loan and the value of the car, the loan-to-value ratio would now be 67 per cent.

What is a pre-approval?

A pre-approval is a formal document that indicates how much a lender is willing to lend to a consumer – once that person has found the car they want to buy. A lender will assess a borrower’s credit history and financial circumstances before issuing a pre-approval. However, lenders are under no obligation to follow through on pre-approvals, so pre-approvals should be seen as statements of intent rather than rock-solid guarantees.