Auto Loan Calculator

New Zealand rules and figures

• Car lenders are bound by the CCCFA to spell out the main terms, such as interest, fees and the right to seek hardship relief.
• A lender that breaks the disclosure rules has to give back interest and credit fees charged while the breach lasted.
• There is no cap on the interest rate, though it cannot be oppressive and must be disclosed; credit and default fees need to be reasonable.
• The sources checked did not confirm one standard comparison rate like an APR, so weigh the interest and fees side by side.
• Inland Revenue lists GST at 15%, and the tool's tax box therefore starts empty for cars, whose prices already include it.

Sources: Consumer Protection (MBIE): Credit Contracts and Consumer Finance Act (checked 2026-11-08); Commerce Commission: CCCFA fact sheet (Nov 2021) (checked 2026-11-08); Inland Revenue: GST (checked 2026-11-08)

How the auto loan calculator works

The loan is price plus fees, less the deposit and trade-in. Repayments are equal and monthly, with interest taken each month at one twelfth of the yearly rate on the remaining balance. The GST box starts empty, because the price you are shown already has GST in it.

loan = price + fees − deposit − trade-in; repayment = loan × z × (1 + z)^months ÷ ((1 + z)^months − 1), where z is the annual rate over 12

• The first box is named Interest rate and credit fees as disclosed (%); fill it with the interest rate alone and use the fee box for credit fees.
• Total Cost is all repayments plus the deposit plus the trade-in, so it contains the fees and the interest.
• Only the term is filled in at the start, at 60 months; the rate must be entered before a repayment appears.
• At a 0% rate the repayment is the loan divided by the number of months.
• Repayments are monthly. If your lender uses fortnightly payments, the figures will be a rough guide only.

How to use the auto loan calculator

1. Enter the price, deposit and trade-in. Type the vehicle price, the cash you will pay up front and the value of any car you trade in.
2. Add the interest and term. Enter the interest rate from the lender's disclosure and choose a term from 36 to 84 months.
3. Add credit fees. Enter establishment and other credit fees as one dollar amount.
4. Review the loan. See the monthly repayment, the amount borrowed and the interest over the term.
5. Compare terms. Open Comparison for payment, interest and cost at each term, or Schedule for every repayment.

Example: A $28,000 car with $3,000 down and $400 of fees at 9.9% over 48 months

The loan is $25,400 after the fees and the deposit. The repayment is $642.99 a month and interest is $5,463.54, which makes Total Cost $33,863.54 with the deposit. Of the first repayment, $209.55 goes to interest and $433.44 reduces the loan. Stretching to 72 months cuts the repayment to $469.28 but raises interest to $8,387.90, which is $2,924.36 more.

When something else is a better fit

• When you have more than one car-finance quote, use the Loan Comparison Tool.
• When you want to repay early, use the Early Payoff Calculator.
• When you need the exact contract terms, use the disclosure statement your lender gives you.

Questions about the auto loan calculator