Estimate your repayments, comparison rate and on-road costs for a car loan in Australia — free tool from A1 Accounting & Tax Solutions.
The advertised interest rate on a car loan is only part of the cost — establishment fees, ongoing account fees and other charges all add to what you actually pay. The comparison rate folds these into a single annual percentage figure so you can compare loans on a like-for-like basis, calculated on a standardised $30,000 loan over 5 years under Australian law. A loan advertised at a low headline rate can carry a meaningfully higher comparison rate once fees are included — always check the comparison rate, not just the advertised rate, when shopping for finance.
Loan fees are not subject to GST in Australia (financial supplies are input-taxed) — GST is already built into the vehicle purchase price itself, so no separate GST calculation applies to the loan fees above.
Our team can help you understand the true cost of a car loan, including any tax implications if the vehicle is for business use.
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