Estimate your car's trade-in value and how it affects your new car loan
Updated October 2026Built and checked by MaverickHow it's calculatedReport an error
Trade-in equity
$7,000
applied as deposit
Effective deposit
$9,000
trade-in + cash + owing
New loan amount
$31,000
amount to finance
Monthly repayment
$629
$6,714 interest
Trade-in offsets loan principal. Owing reduces your trade-in equity. Cash deposit lowers the loan further.
A 10-20% better trade-in offer can shave dollars off your monthly cost. The highlighted bar is the value you entered.
Trading in your current car? See how the trade-in value affects your new loan, especially if you still owe money on it. Understand equity and avoid negative equity traps.
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%.
Car worth $18,000 with $5,000 owing, buying a $35,000 car with an 8% loan over 5 years.
The trade-in leaves $13,000 of equity as a deposit, so the new loan is $22,000: $446 a month and $4,765 of interest over 5 years.
Car worth $12,000 with $16,000 owing, buying a $30,000 car with an 8% loan over 5 years.
The $4,000 still owed above the car's value rolls into the new loan, making it $34,000 for a $30,000 car: $689 a month and $7,364 of interest. Paying the old loan down first avoids carrying that debt.