Paying Off Your New Car Loan

Want to find out how long it could take to pay off that car you’ve always wanted? Use our Car Loan Repayment Calculator by adjusting the amount, loan term and interest rate to estimate what your repayments might be.

My Loan Details
Extra Repayments

Repayment settings have limited the savings options available. An Interest only repayment type usually does not allow any extra repayments to be made.


Enter the amount you would like to borrow.

Loan Term

How many years do you want to take to repay the loan?

Interest Rate

You can increase or decrease the interest rate to understand the affect on your repayments and total interest.

Repayment Frequency

Repayment Type

Extra Repayment Amount

Enter the extra amount you plan to make for every repayment

Repayment Frequency

Offset Account Amount

Enter the amount in the account you wish to use to offset your interest payments.

Lump Sum Amount

Enter the lump sum about you plan to make against the loan.

Lump Sum Year

Enter the year you plan to make the lump sum payment.
  Interest saved  
  Time saved  

Regular Repayment

  / at    pa

Total Interest Payable


Calculator Disclaimer

The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan or product. Results are based on information you have provided and does not take into account your personal circumstances. Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender’s lending criteria. This calculator is not intended to be your sole source of information when making a financial decision. It is advised that you consult a professional financial advisor before taking out a loan.

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Car Loan Tips

Increase Your Payments

Any extra repayments you make in the first few years of your car loan can shorten the life of the loan and reduce the overall amount of interest you pay. If you can’t pay more, try to pay more often such as fortnightly rather than monthly.

Make Lump Sum Payments

If you come into some money, whether it be a tax refund, inheritance, work bonus or you sell something, consider putting this money towards your car loan. Making extra lump sum repayments is a good way to pay down your car loan faster.

Refinance Your Loan

You may be able to negotiate a better interest rate on your car loan with your lender. Alternatively, you can refinance your car loan through a different lender by taking out a new loan that covers the amount you still owe on your current one.

Round Up

Instead of just paying the recommended payment, round up your payments to the nearest $50 to help repay your car loan faster. If your repayment is $220 a month, by rounding up to $250 you’d be repaying an extra $360 a year.

How We Can Help

At Debt Rescue, we’re dedicated to finding the right solution to get you out of debt as fast as possible. We understand there’s a no one-size-fits-all solution to debt and that everyone’s needs are different, which is why we take the time to understand you, your finances, your debts and your situation to recommend the best solution moving forward.

If you’re experiencing financial difficulties, we can help get your finances back on track. At Debt Rescue, we offer a wide range of solutions under our Debt Management Plan (DMP). Our DMP is designed to combine your debts into one, easy-to-manage repayment based on your budget. Get in touch with one of our experienced Case Managers today for a free 30-minute consultation.

" Was wary of a company like Debt Rescue, but after cautiously working through the steps with them, they were always polite, professional and supportive. The support they offer is comforting and reassuring, no longer are we worried about answering calls. This is our second chance to get on track with our finances and start fresh, debt free!"


Our Services

Our professional team understands each person’s circumstances are different, which is why we offer a range of creditor agreement options under the Debt Management Plan. This ensures the outcome achieved for you is suitable and sustainable. A summary of our Debt Management options:

Debt Agreement

A Part 9 Debt Agreement is a legal and binding agreement with your creditors. A Debt Agreement outlines a new payment arrangement which will reduce your debts, pause your interest, reduce your payment amounts and generally last between 3 to 5 years.

Debtstroyer Agreement

A Debtstroyer Agreement (Informal Agreement) aims to reduce repayments and pause or reduce interest on your debts. It is a private arrangement directly between you and your creditors to ensure your debts are manageable based on your budget.

Debt Settlement

If you have access to a lump sum which is not sufficient to repay your outstanding debts in full, a Debt Settlement may help. It is designed to waiver or reduce debt amounts to allow final settlement with your creditors.


An Agribusiness arrangement is a specific arrangement for those caught up in failed agribusiness loan schemes. It can take the form of a long-term payment arrangement or lump sum settlement, depending on your individual circumstances.


A Moratorium is a short term arrangement with creditors (secured or unsecured) which pauses or significantly reduces repayments and interest over a period of 3 to 12 months.

Loan Renegotiation

Loan Renegotiation is a renegotiation of current loan terms and conditions to reduce interest, increase the loan term with ultimate outcome being a reduction in the minimum loan repayments.