Car loan calculator

How much would you like to borrow?

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The interest rate of a loan will vary based on your credit score and risk profile.

Repayment Term

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This loan calculator is for illustration purposes only.
The use of this quick loans calculator is subject to our terms of use.

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MARAC - Convenient vehicle finance

Make sure that you are covered by GAP insurance (Guaranteed Asset Protection) this will protect your vehicle in the event that it is stolen or written off.

If your car is written off, but you still have outstanding payments on your loan, GAP insurance will cover your outstanding balance.

Things you need to consider

Our loan terms are flexible, chose between 1 year and up to 5 years to repay your loan, your vehicle will be used as security against your loan so if you default on your repayments then you will lose your car.

• Interest is calculated and charged monthly the repayments are customized to suit your wallet and put you in the driver’ seat to determine how much you need to pay.
• You need to make sure that you have valid insurance on your vehicle for the duration of the loan agreement.
• To apply for a car loan you need to be over the age of 18 years. You must also hold a valid driver's license.

Consider applying with a guarantor

If you don’t have a deposit or security as collateral for your car loan, you should consider applying for a joint loan with a guarantor.

There are many benefits of applying for a car loan with a guarantor the main problem-solving is that people with bad credit that would usually find it difficult to apply for a loan are able to obtain vehicle financing.

Other benefits include:

• The interest rate that is charged for guarantor loans is much less than the charges for bad credit loans.
• Guarantor loans offer flexible repayment terms with up to 60 months to repay the loan.
• Guarantor loans allow you to borrow up to $10,000 which is much more than you would be able to borrow on a bad credit or a payday loan.
• Applying with a guarantor gives your application more chance of being approved and your application will be approved much faster.

Other things to consider

Your fees will be much less and there is no charge to apply. When choosing someone to act as your guarantor you will need to consider the relationship you have with them, can you trust them to repay the loan if you are unable to. Will your missing payments put a strain on your relationship? You both need to trust each other for this relationship to work.

We are responsible and on your side

You need to make sure the person who acts as your guarantor is able to afford the repayments on the loan if you aren’t able to. The guarantor will be prevented from applying for any personal loan until your loan term is over.

Trade-ins welcome

If you have a vehicle to trade in you can use it as a deposit on your new vehicle by doing this you will benefit from a lower interest rate and lower fees.