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Calculate the cost of purchasing a car

How to apply for a car loan
1. Apply online
It should take less than 20 minutes.
2. Approvals
If approved, you will receive your loan contract to accept online. Get your loan funded on the day you apply.6 See how it works.
3. Access your money
The funds are used to buy your car and you can view your repayment details in online and mobile banking.
What can a car loan calculator tell me?

The car loan calculator quickly estimates your repayment amount and the total interest payable for your chosen car loan. It’s a clever way to compare car loans and find out if your repayments will fit your budget before you apply.

If you’re deciding on a loan term, the car loan calculator can help. Try as many combinations as you like to find the term that’s right for you.

Simply enter how much you want to borrow, the loan term, and if you want to make weekly, fortnightly, or monthly repayments. The car loan calculator will do the hard work for you.

Car Loans from Great Southern Bank

Designed to help you pay your car off faster, our car loans come with:

  • Competitive low interest rates.
  • $0 monthly account fee.
  • Fee-free extra repayments.
  • No penalties for early payout.
  • Free redraw – in case you need your additional repayments.5
  • Get your loan funded on the day you apply.6 See how it works

Car loan questions and answers

Applying for a car loan? Find answers to frequently asked questions here.

What is a balloon payment?

A balloon payment is a final lump-sum that’s paid at the end of your loan. It’s a percentage of the car’s purchase price and is paid in addition to your regular repayments and fees.

A balloon payment may lower your monthly repayment amount, but it’s important to note that balloon payments accumulate interest. You’ll also have to set some money aside to make the balloon payment. Don’t forget to calculate the full cost to avoid paying more in the long term.

Our car loans have no balloon payment; but we still recommend comparing car loans to find the one that’s right for you. Got a question? Drop us a message on Live Chat, we’re here to help.

How does car finance work?

The term “car finance” describes the different ways you can borrow money to buy a car. You may also know this as a car loan.

If you want to buy a car, but don’t have the money to pay the ticket price upfront, car finance allows you to borrow the amount you need. Then pay it off in smaller flexible repayments.

It’s important to note that car loans attract interest on top of your regular repayments. This is essentially the cost of taking out the loan. The interest rate will vary between lenders, so it pays to compare.

When you apply for a car loan your income and expenses will be assessed to ensure you can pay off the loan. Then you’ll receive the funds in your bank account to buy your new set of wheels – it’s that simple!

What are the costs to owning a car?

Buying a car is exciting, but it also comes with a few ongoing costs to keep your car on the road. In addition to your:

  • Petrol
  • Regular servicing (approx. every 6 months)
  • Car Insurance
  • Set aside some savings for emergency repairs - better to be safe than sorry.

Maintaining your car not only keeps your car safe and reliable, but it can also save you money on bigger repairs further down the track. And avoid the inconvenience of having to get around while your car is at the mechanic.

Finding your car loan made easy

Secured Fixed Car Loan
Loans from $5,000 to $100,0003 for cars up to 7 years old.
Interest rate
Comparison rate 1
Used for
Unsecured Fixed Personal Loan
Loans from $5,000 to $65,000.3
Interest rate
Comparison rate 2
Used for
Unsecured Variable Personal Loan
Loans from $5,000 to $75,000.4
Interest rate
Comparison rate 2
Used for

Get a detailed look into the features across all of our personal loans. Compare personal loans

We've been putting customers first for more than 75 years.
Flexible loan options
Pay it off your way.
Clever features to help you save money

From competitive interest rates to no monthly fees, you’ll be saving smarter, not harder.

We’re customer owned

That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.

Explore more car loans

All car loans

Competitive personal loan rates for new and used cars.

Used car loans

Get on the road fast with a loan for a used car.

Refinance my car loan

A clever way to get a better deal.

Electric car loans

Get a new set of wheels and reduce your carbon footprint.

Ready to apply?
Apply online and get set to hit the open road today.
Apply now
Get in touch
We're here to help.
Call 133 282

Mon - Fri: 8:00am - 7:00pm (AEST)
Sat: 8:00am - 4:00pm (AEST)

Find a branch
Speak to one of our friendly staff at a branch near you.
Connect online
Chat to us or browse help topics and FAQs.
Important Information

Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions, and fees apply.

Rates current as at 11 August 2022 and subject to change.

Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

1 Comparison rate accurate for $30,000 unsecured loan over 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

2 Comparison rate accurate for $30,000 secured loan over 5 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

3 $3,000 minimum loan amount in branch, $5,000 minimum loan amount online. Available loan term is 1 to 7 years.

4 $3,000 minimum loan amount and $100,000 maximum loan amount available in branch. $5,000 minimum loan amount and $75,000 maximum loan amount available online. Available loan term is 1 to 7 years.

5 A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.