What fees should I look for when comparing car loans?

Check for establishment fees, monthly account fees, early repayment fees, and redraw fees. These can add hundreds to your loan cost.

Is a lower rate always better?

Not always. A loan with a slightly higher rate but no fees may cost less overall than a low-rate loan with high fees. Always compare total cost.

Car Loan Comparison Calculator

Calculator

Compare up to 3 car loan offers side by side to find the best deal

Free to useNo data storedAI insightsUpdated: February 2026

Got multiple car loan quotes? Compare them side by side to see which really offers the best value. We'll calculate total costs including fees and interest.

Enter Your Details

Real-World Examples

Bank vs Credit Union

Compare $25,000 loan: Bank at 8.5% with $300 fees vs Credit Union at 7.9% with $150 fees, both 5 years.

Inputs Used:

amount:25,000rate1:8.5rate2:7.9fees1:300fees2:150

Credit union saves $580 in total. The lower rate AND lower fees make it a clear winner.

Frequently Asked Questions

Glossary

Comparison Rate

A rate that combines the interest rate and most fees into a single percentage for easier comparison.

Establishment Fee

One-time fee charged when the loan is set up, typically $0-$400.

Early Exit Fee

Penalty for paying off your loan before the term ends - important if you might sell the car.

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How to Use

1Enter the loan amount you need
2Add rates and terms for each loan offer
3Include any establishment or ongoing fees
4Compare the total cost of each option

Key Information

Lower rate doesn't always mean cheaper - fees matter
Shorter terms cost more per month but less overall
Comparison rates include most fees for fairer comparison
Check for early repayment penalties

Pro Tips

Always compare the total cost, not just monthly payments
Ask each lender for their comparison rate
Check if loans allow extra repayments without fees
Consider loan flexibility - can you redraw or make changes?

Avoid These Mistakes

Choosing based on lowest monthly payment alone
Ignoring fees when comparing rates
Not considering loan features like redraw
Forgetting to check early exit fees

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026