Credit One car loan repayment calculator

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

I'd like to borrow

$

Loan term

Credit Score ()

Your estimated repayment

at interest rate 4.67 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Credit One car loans rates

Product
Advertised Rate
Comparison Rate*
Company
Monthly repayment
Upfront Fee
Loan amount
Total repayments
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3.97%

Fixed

4.51%

loans.com.au

$552

$400

$5k to $100k

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From

4.45%

Fixed

4.93%

Credit Concierge

$559

$350

$10k to $150k

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4.65%

Fixed

4.99%

People's Choice Credit Union

$561

$250

$20k to $100k

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More details

4.67%

Fixed

5.22%

loans.com.au

$562

$400

$5k to $100k

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More details

From

4.47%

Fixed

5.28%

Driva

$559

$400

$2k to $250k

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More details

4.99%

Fixed

5.69%

NRMA Car Loans

$566

$499

From $15k

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5.45%

Fixed

5.80%

IMB Bank

$572

$250

$2k to $75k

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More details

From

5.50%

Fixed

5.85%

OurMoneyMarket

$573

$250

$2k to $75k

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More details

From

5.19%

Fixed

6.02%

Wisr

$569

$655

$5k to $50k

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More details

12.45%

Fixed

13.32%

ANZ

$674

$150

$5k to $50k

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More details

Learn more about Credit One

What is credit history?

Your credit history is a record of the dealings you’ve had with credit providers such as banks, credit card companies, mobile phone companies and internet companies. Your credit history records how successfully you’ve managed your repayments. It also records how many credit applications you’ve made and how many of those were rejected.

Credit providers refer to your credit history when deciding whether or not to extend you credit. Missing repayments is a bad sign; making too many applications or having applications rejected can also be a bad sign.

Credit infringements can remain on your credit history for five years – or seven years for serious infringements.

What is a credit score?

Your credit score is a number that represents how credit-worthy you are. The higher your credit score, the more credit-worthy you are and the more likely you are to receive loans from credit providers.

There is no industry standard for credit scores – different credit reporting bodies use different methodologies. For example, Equifax gives consumers scores between 0 and 1,200; Illion (through the Credit Simple service) gives scores between 0 and 1,000; and Experian gives scores between 0 and 999.

When it comes to car loans, lenders tend to offer lower interest rates to borrowers with better credit score. There are steps you can take to improve your credit score, including paying bills on time and paying off existing loans.

Can I get a no credit check car loan?

Even if you have bad credit or no credit history there are loans that are available to you through specialised lenders. Some lenders in Australia advertise car loan offers without running credit checks, however, the Australian National Consumer Credit Protection act requires lenders to loan money responsibly, so credit checks are normally required by all responsible lenders. 

What is a balloon payment?

Some lenders will offer borrowers reduced monthly repayments in return for a one-off lump sum – or balloon payment – that the borrower has to pay at the end of the loan. Generally, the total repayments on a loan with a balloon structure will be higher than a loan without.

What is a car loan calculator?

A car loan calculator is an online tool that helps consumers understand how much they would have to repay under different scenarios. Consumers can create these different scenarios by entering different borrowing amounts, interest rates, loan terms and repayment schedules into the car loan calculator.

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.

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.

What is trade-in value?

The trade-in value is the price you could realistically charge if you were to sell your car to a dealer while buying a replacement vehicle. Generally, a car’s trade-in value is less than its market value. That’s because the dealer has no interest in buying your car unless it can make a profit – which can only be done if the dealer has room to increase the price.

What is a refinance?

A refinance is when you swap one car loan with another. For example, you might take out a car loan with Lender X because it is the best on the market at the time – but two years later, you might switch to Lender Y because you discover that it now has the best loan. Conditions and fees often apply when you refinance.

What is an upfront fee?

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