Free tool
Car budget planner
Start from your take-home pay, not the sticker price. See how much you'd borrow, a repayment your spare cash can comfortably carry, and the running costs that come with the car.
Your total-cost checklist
The repayment is only part of what a car costs. Tick these off with real quotes before you sign anything.
- Paid when you register or transfer the car and renewed every year (or in shorter terms in some states).
- Covers injuries, not damage to cars. Included in registration in states such as Victoria and Queensland; in NSW you buy a green slip before you can register.
- Charged by your state when you register a new car or transfer a used one. Victoria, for example, bases it on the higher of the purchase price or market value.
- Not compulsory by law, but lenders often require it while the car is security for the loan. Get a quote before you buy.
- Check the service schedule and capped-price servicing for the model, and keep a buffer for repairs on an older car.
- Tyres and brakes come around sooner than most people budget for, especially on 4WDs and heavier vehicles.
- Fuel for petrol and diesel, or home and public charging for an EV. Use your real weekly kilometres.
- Small monthly amounts that add up over a five-year loan.
State fees differ. Check your state's transport or revenue office, for example Service NSW, VicRoads motor vehicle duty or Queensland registration costs.
How the car budget planner works
Most car ads lead with a weekly repayment. That figure is designed to look small, and it says nothing about whether the car fits your life. This planner flips the question around. Instead of asking "what will the repayment be?", it asks "what repayment could I carry without strain?" Then you can hold any quote up against that number.
It works in four steps. First, it converts your take-home pay to a monthly figure, whether you're paid weekly, fortnightly or monthly. Second, it subtracts your regular expenses: housing, groceries and bills, other debt repayments and everything else. Third, it subtracts the car's own running costs, because a car you can repay but can't afford to register, insure or fuel isn't affordable. Finally, it holds back the safety buffer you chose and calls the rest your comfortable repayment budget.
Why there's no interest rate
We deliberately don't ask for a rate or assume one. Rates depend on your credit history, the car, the loan term, the lender and more, and a guessed rate makes a calculator look precise when it isn't. The coverage check gives you something more useful: it shows how much your comfortable budget would add up to across the whole term, compared with the amount you'd borrow. The gap between the two is the room left for interest and fees. When a real quote arrives, check two things: does the repayment fit inside your comfortable budget, and does the total amount payable look reasonable next to the price of the car?
Reading the coverage result
- Plenty of room: your budget comfortably covers the amount borrowed with a good margin left for interest and fees.
- Some room: workable, but compare quotes carefully and avoid add-ons that increase the loan.
- Tight: little margin for interest and fees. A bigger deposit, a cheaper car or a shorter wish list will help.
- Doesn't cover it: your comfortable budget wouldn't repay even the amount borrowed over this term. Rethink the car, the deposit or your expenses before applying.
Making the numbers more accurate
Use your bank statements to check your real spending over the last three months, not what you think you spend. Get an insurance quote on the exact car, and look up registration and duty on your state's website. If you're buying an older car, set aside more for repairs. If you're buying an EV, swap fuel for your expected charging cost.
Lenders will ask about your income and expenses too, and they're required to check that the loan isn't unsuitable for you. Going in with honest, well-checked numbers makes the application smoother and the outcome easier to live with. Not sure which type of loan to look at? Try the car loan or personal loan quiz, or read about used car loans and new car loans.
Frequently asked questions
Why doesn't the planner ask for an interest rate?
Because the rate you'd be offered depends on your circumstances and the lender's assessment, and a guessed rate gives a false sense of precision. The planner works the other way round: it shows the repayment your spare cash can comfortably carry, so you can judge any real quote against it.
What does the 'comfortable repayment budget' mean?
It's your monthly take-home pay, minus your regular expenses and the car's running costs, minus a safety buffer you choose. If a quoted repayment fits inside that figure, the loan is more likely to sit comfortably in your budget.
What is the coverage check?
It multiplies your comfortable monthly budget by the number of months in the loan term and compares that with the amount you'd borrow. Whatever is left over is the room available for interest and fees. The lender's quote will show the real total.
Should I include on-road costs in the price?
If the price you were given is drive-away, leave the extra on-road costs at zero. If it isn't, add an estimate for stamp duty, registration and transfer so the borrowed amount is realistic, or plan to pay those upfront from savings.
Are my figures saved or sent anywhere?
No. Everything is calculated in your browser. Nothing you type in is sent to us or stored.
Is the result an approval or an offer?
No. It's a planning estimate. Any loan is subject to the lender's assessment of your income, expenses and credit history.
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Honest answers, better matches