How a loan calculator works
Break it into three simple steps to get a clearer picture of what borrowing for a vehicle could cost, based on the numbers you enter.
- Enter your loan details: Input your loan amount, interest rate and term, plus any deposit or trade-in to work out what you actually need to borrow.
- See indicative figures: See example repayments, total interest and a cost breakdown from the numbers you've entered, with principal and interest shown separately.
- Compare different scenarios: Adjust the amount, term and rate, compare weekly, fortnightly and monthly repayments, and see how extra payments could reduce the total interest.
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Why use a finance calculator?
A few things our calculator does to help you plan.
- Clear calculations: Work out weekly, fortnightly or monthly figures from the loan amount, rate and term you enter.
- Total Interest: See how much interest you could pay over the loan term, so you get the bigger picture.
- Scenario Comparisons: Compare different loan amounts, terms and interest rates instantly.
- Fees Included: Add establishment fees and other costs for a fuller picture.
Built for New Zealanders planning a vehicle purchase - a clearer picture in minutes.
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FAQ
How does the loan repayment calculator work?
Just pop in a loan amount, term, and interest rate, and the calculator will show you estimated weekly, monthly, and total repayments. It works for any kind of loan - personal, vehicle, debt consolidation, and more - so it’s a quick way to see how different borrowing scenarios could look. These figures are a guide only; your exact rate and repayments will be confirmed once we’ve reviewed your application.
How do I calculate my loan repayments?
Repayments are worked out using your loan amount, the length of the loan (term), the interest rate, and example fees. The calculator applies a standard repayment formula and runs the numbers for you, whatever the loan is for, so you can get an idea of what you might pay over time.
What interest rate should I use in the calculator?
If you’re not sure, use a rate within our current range as a starting point - you’ll find it in the Loan Information section below. Rates vary by loan type and your circumstances, so treat it as a guide only. Your actual rate is personalised, based on things like your credit history and the loan details, and it’s confirmed after we assess your application.
What affects my repayment amount?
Several things can change your repayments: the loan amount, the interest rate, the term, and any fees. A longer term can make each payment smaller but increase the total cost, while a shorter term usually means higher payments but less interest overall.
Why do fees affect the total cost?
Most loans include an establishment fee, an introducer fee, and sometimes other charges. These get added to your loan balance, so they’re included in the repayment calculation - which is why they affect the total you’ll repay over the term.
Can I change the loan term to see different repayment amounts?
Absolutely. Adjusting the term in the calculator will instantly update your estimates. It’s a simple way to see how spreading the loan over more time, or paying it off faster, could fit your budget.
Is the rate shown in the calculator the rate I’ll get?
Not necessarily. The calculator uses whatever rate you enter, so it’s an estimate, not a quote. Your actual rate is personalised - it depends on things like your credit history and the loan details - and it’s confirmed once we’ve assessed your application.
How accurate are the calculator results?
They’re designed to give you an estimate based on the numbers you enter. Your actual interest rate, fees and repayments will be determined after your application is assessed.
Does using the calculator affect my credit score?
No. The calculator is just a tool for estimating repayments - using it doesn’t involve an application or a credit check, so it has no effect on your credit score. A soft check only happens later, if you decide to start an application.
Can I use this calculator for any type of loan?
Yes. Whether you’re looking at a personal loan, a vehicle loan, debt consolidation, or something else, you can use the calculator to estimate repayments - just enter the amount, term, and an interest rate. For a specific product, our individual loan pages have more detail, and the figures here are always a guide only until we assess your application.
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