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Car Loan Amortisation Calculator

Use our Car Loan Amortisation Calculator to understand the true cost of a car loan over time. Calculate the total interest paid and see how minimum repayments can keep you in debt for longer.
Updated 14 June 2026
Summary
  • Managing car loan debt can be challenging, especially with the ongoing costs of running a car such as petrol, insurance, WOF and parking. If you fall behind on loan repayments, the costs can jump up with penalties and late charges.
  • Too many New Zealanders have expensive car loan, and it's not going away - this March 2022 story from Stuff.co.nz explains how fall behind on car loan repayments. ​
  • To help you understand the long-term costs associated with a car loan, we've created this Car Loan Amortisation Calculator.​​
Example Calculation for Car Loan

John is considering taking out a car loan of $10,000, which he plans to repay over three years at an interest rate of 15.00% per annum, starting from today. Using these figures in our car loan calculator, the following results are obtained:
  • Monthly Payment: $347 (this is an estimate and actual payments may vary based on loan terms)
  • Total Payments Over 60 Months: $12,480
  • Total Interest Paid: $2,480

This example helps illustrate the financial commitment involved in taking out a car loan, helping you plan your finances accordingly.
How to Use Our Car Loan Amortisation Calculator
  • Enter the loan amount you need to borrow, the loan term in years (most NZ car loans run 3 to 5 years), and the interest rate the lender is offering.
  • The calculator immediately shows you the monthly repayment, total amount paid, total interest, and number of payments.
  • The chart below visualises how each year of the loan splits between principal and interest, with the green line showing your loan balance decreasing over time.
  • Toggle between the yearly and monthly view of the amortisation schedule for whichever level of detail you need.

Car Loan Amortisation Calculator

Work out your monthly repayments and see how each payment splits between principal and interest over the life of your car loan.

Monthly repayment $530.56
Total to repay $31,833
Total interest $6,834
Number of payments 60
!
21% of your total payments will be interest. Of the $31,833 you pay back, $6,834 is the cost of borrowing. Shopping around for a lower rate can save you thousands.
Year-by-year breakdown
Principal Interest Balance
Amortisation schedule
Important Considerations
  • Fixed repayments: The calculations assume that you make the same car loan repayment for the entire repayment period.
  • Stable interest rate: The interest rate is assumed to remain constant without any increase or decrease.
  • Consistent payments: It is assumed you do not miss any repayments, overpay, or underpay during the term.

Video guidance: MoneyHub Founder Christopher Walsh explains how the calculator works in the video below:
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