Compare up to 3 car loan offers side by side and see which costs least in total, fees included
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Lowest total cost
Loan 1
7.5% over 5y, 7.78% with fees
Saving vs next cheapest
$230
over the life of the loan
Its monthly repayment
$601
repayment
Its total cost
$36,268
principal + interest + fees
Shorter terms mean higher monthly cost. The loan with the lowest total cost is highlighted.
The lowest rate isn't always the cheapest loan: fees and the term matter too.
Same principal across loans: the interest and fee slices tell you what each option really costs.
Got more than one car loan quote? Enter each offer's rate, term and fees for the same loan amount, and this calculator shows the monthly repayment, the total interest, the total cost including fees, and an annual rate that includes the fees, so you can see which costs least overall. Moneysmart suggests comparing loan features, fees and the interest rate, and notes that the lowest interest rate isn't always the cheapest loan once fees are counted. ASIC's 2026 review of car lenders found the overall cost of car loans varied widely, and that loans often carried two establishment fees: one from the lender and one from the dealer or broker who arranged it.
As of 7 November 2026, the lowest car loan rate from a bank or lender is 5.74%, from Westpac's Car Loan, while the typical best across 42 institutions is 6.99%. The lowest carmaker finance rate is 2.70%, from Chery Motor Finance's Chery 4.46% EV Comparison Rate Offer, while the typical best across 12 institutions is 4.99%.
A $25,000 loan over 5 years: one offer at 8.5% with $300 in fees, another at 7.9% with $150 in fees.
The 7.9% loan costs $30,493 in total against $31,075, saving $582. Counting fees, its rate is 8.16% against 9.02%.
A $25,000 loan over 5 years: 7.5% with $1,500 in fees, or 8.2% with no fees.
The 8.2% loan costs $999 less in total ($30,558 against $31,557). With its fees, the 7.5% loan works out at 10.14% a year.