If you’ve already got your car loan with ANZ Bank, you’ll need an ANZ Car Loan Calculator to work out your costs.
If you’re looking for a car loan, and you want to get a competitive rate with a low interest rate from an industry leading lender, ask your car loan broker about options with ANZ.
Before you talk to a broker, you might use the calculator to work out your potential costs, including loan fees, interest and repayments. This means before you start a loan application you have a firm idea in mind of the commitment the loan represents.
Before you start to use the ANZ car loan repayments calculator, you’ll want to know which loan type you have or are going to apply for.
There’s actually 3 types of loan that you can get through ANZ to buy a car, depending on your exact requirements.
ANZ Bank provide three key loans that you can use to purchase a car. The loan you choose will depend on your budget, the type of car you want to purchase, and whether you plan to pay the loan out before your loan term ends.
The most common type of loan for buying a car is a secured car loan. With this loan you’ll have a fixed interest rate for the term of the loan.
A secured car loan has a lower interest rate because ANZ will register a security over your car during the loan term.
You can use a secured car loan to buy a new car, or a used car up to 7 years old. You can even use it to buy a motorbike, truck or caravan as long as it’s for personal use.
A secured car loan has fixed repayments for the loan term, so you’ll pay the same amount each pay cycle.
You also have the option of making a lump sum balloon payment at the end of the loan term, which reduces your repayments throughout the loan. You’ll just need to remember to set aside a little extra each week to put towards the final payment.
At the end of the loan term, ANZ removes their interest over the car and it’s 100% yours with no more to pay.
If you’re ready to find out how much you could borrow using an ANZ Secured Car Loan, head over to the Borrowing Power calculator.
To get the best answer you’ll need to have some basic info handy. Here’s what you’ll need to get your borrow amount:
If you’ve already got an idea of how much you want to spend, then you can use the second tab on the calculator to calculate what your monthly repayments could be.
Remember, it pays to check that you’ll qualify for the amount you want to borrow too.
If you are looking to purchase a car that’s more than 7 years old, and you need to get a loan, you’ll probably use a fixed rate personal loan.
Because there’s no security for the loan you’ll pay a slightly higher interest rate than with a secured car loan. The fixed interest rate means that your repayments are fixed for the loan term.
If you apply for this loan you can get the money to buy your new car quickly, usually within 24 hours.
This type of loan can also be used if you don’t want to use your car as security for the loan, or if you have other expenses you want to cover with the one loan.
The key advantage of a variable rate personal loan is that you get the flexibility to pay back your loan faster. There’s no exit fees if you payout the loan before the loan term ends.
You’ll also get the flexibility to use some of the amount you borrow for other things you might need, and you can buy a car older than 7 years if you decide that’s the best option.
This could be a good option for you if:
To compare the offers that are currently available for these ANZ loans, you can find more information here.
If you’re ready to apply for a loan, or you want to get an exact quote, you should speak to a car and personal loan broker.
They might be able to offer you loan structures and rates that you won’t see on the websites, and you’ll get a personal quote based on your finances and credit score.
You can talk to an expert broker now by calling 1300 722 210 to get your personal ANZ car loan quote, and to ask any questions you might have about the different car loan lenders and loans you may be eligible for.