Shopping for a new car is fun. Shopping for the car finance is not. Thankfully, at Rapid Finance, we make car loan shopping simple and easy with our car loan repayment calculator.
Using our car loan calculator, you can adjust settings to find your ideal finance solution. The key components of a loan include the loan amount, the interest rate, the loan’s length and the repayment frequency. By adjusting these settings in the car loan calculator, you can find out how much you can borrow, how much you can afford and what the repayments will be.
When you are finished, why not talk to a car finance specialist? A Rapid Finance car loan specialist will be able to go through your situation with you and discuss what is possible. Once the finance has been sorted, you can get back to the fun part – driving in your brand-new ride! Go Rapid.
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Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.
Find out more information about our Car Loans
Call us on 1300 467 274
Rapid Finance specialises in finding finance solutions for people who may have difficulty with banks or mainstream lenders. We consider various factors such as employment situations, Centrelink payments, and credit history. To check your eligibility, you can start by clicking "Apply Now" button via the calculator above or by contacting our team at 1300 467 274.
As a basic guide, you need to be employed or self-employed and earning above $700 per week to qualify.
The amount you can borrow for a car loan depends on your individual circumstances, including your income, credit history, and the type of car you want to purchase. Rapid Finance offers car loans ranging from $10,000 to $100,000+, and our loan specialists can help you determine the specific amount you qualify for. The loan repayments need to be affordable to you, for the duration of your loan term.
A deposit is not necessary to quality through Rapid Finance.
The deposit required for a car loan may vary based on the loan amount you need for the vehicle and your financial situation. Rapid Finance offers car loans with flexible deposit options, and our team can provide guidance on the deposit amount that suits your needs.
Having a deposit saved can often help us get your loan application approved, as there is less risk to the lender, and you have proof that you can save and manage your finances. However, a deposit is not necessary. See our no deposit car loans page for details.
Your income requirements for a car loan will depend on various factors, including the loan amount and your financial stability. Rapid Finance works with customers with diverse income sources, including Centrelink payments and self-employment. To get a clearer picture of your eligibility, we recommend completing the car loan calculator, letting us know how much you wish to borrow. You will need to earn over $700 per week to qualify for a car loan through Rapid Finance.
Calculating the affordability of a car loan involves considering your income, expenses, and other financial commitments - everything left over, after that, is considered disposable income, which is available towards your loan repayments. Rapid Finance provides the car loan calculator, above, to help you estimate your monthly repayments and determine what fits within your budget.
The loan term for car loans through Rapid Finance typically ranges from 2 to 7 years, depending on factors such as the loan amount and your ability to repay. Our loan specialists can work with you to determine the most suitable loan term to match the vehicle and for your specific needs.
Most car loans are at a fixed loan rate.
A fixed car loan rate remains constant throughout the loan term, providing predictability in your repayments. In contrast, a variable rate may change over time, potentially affecting your monthly payments. Rapid Finance offers both fixed and variable rate options (in some cases), and our team can help you choose the one that aligns with your preferences and financial goals.
Several factors influence the interest rate you can secure, including your credit score, financial history, loan amount, and market conditions. Rapid Finance has a large lending panel with specialist lenders who consider various situations, including bad credit, to find the most suitable loan rate for you.
If there are issues on your credit file, either preventing you from getting approved or limiting your loan options. We can work with you to help clean up your credit file and improve your credit score, so that better loan options are available to you.
Yes, Rapid Finance specialises in assisting customers with bad credit or a history of credit issues. Our experienced finance professionals can connect you with lenders who are willing to work with your unique circumstances to secure a bad credit car finance that works for you.
Rapid Finance offers refinance options for car loans, which can help you save money or improve your loan terms. Once you have demonstrated a good repayment history on your car loan over the first one or two years, then your credit rating should have improved - which we can use to help secure a better deal. Our dedicated finance professionals can guide you through the process of refinancing your existing car loan for better terms and rates.
In addition to the loan amount and interest rate, there may be additional costs such as establishment fees, monthly fees, and insurance premiums. Rapid Finance will provide you with a comprehensive breakdown of all associated costs before proceeding with your car loan agreement.
Rapid Finance provides a user-friendly car loan calculator near the top of this page. Simply input your desired loan amount, loan term (length), and interest rate (if known), and the calculator will estimate your monthly repayments. It's a helpful tool to assess your potential loan affordability.
The repayment figures will dynamically update, as you adjust the loan variables.
Rapid Finance has over 20 years of experience in the finance industry, with dedicated finance professionals ready to provide personalised assistance. We can help you explore various car loan options and tailor a solution that suits your individual needs and financial goals.
We are specialist brokers, working with people with bad credit, self-employed or receiving Centrelink benefits and will work to find car loan solutions that work for you.
Rapid Finance offers a free credit check report with no impact on your credit file. This report can help you understand your current credit situation and take steps to improve your credit profile over time. Rapid Finance could also guide you through correcting issues on your credit file, which are hindering your ability to find finance at a rate that makes sense for you.
If you have any more questions or need further assistance, please feel free to complete our Free Finance Assessment on our Bad Credit Car Loans page, contact Rapid Finance at 1300 467 274 or email rapid@gorapid.com.au.