Car Loan Calculator with Balloon

Try our easy Car Loan Calculator.  Our Car Loan Calculator will give you an idea of how much your car loan repayments will be, given your estimates of the loan amount, annual interest rate and term of loan in years.  Our car loan calculator will calculate both a monthly and fortnightly repayment amount.  Knowing your repayments allows you to budget for your new car purchase.

What is a balloon payment?

A balloon payment is a lump sum payment that is paid at the end of the loan term.  A balloon payment reduces the car loan repayments throughout the term of the loan.  Not all of the principle of the loan is paid off during the loan resulting in a balloon payment at the end of the loan term.  The balloon amount can either be paid off in full at the end of the loan or refinanced.  Using our car loan calculator you can find out how a balloon payment will affect your repayments.

Get a Pre-approved Car Loan Today

Apply for a Pre-approved car loan now.   Having a pre-approved car loan gives you more negotiating power when shopping for a new car.  It also allows you to focus on finding the perfect car within your budget.

FAQ'S | Car loan with balloon payment

Is a balloon car loan a good idea?

A balloon payment can help reduce your car loan repayments now however there will be a lump sum payment due at the end of the loan. This payment can be paid out with savings, the proceeds of selling the car or refinanced into a new loan.

How do you calculate a balloon payment on a car loan?

A balloon is a set percentage, i.e. 30%, of your car loan principle. You do not made repayments on this portion of your loan until the end of your loan term. It is then due as a lump sum payment. Use our car loan calculator with balloon payment tool to calculate your loan repayments.

Can you refinance if you have a balloon payment?

Yes. At the end of the loan term the lump sum balloon payment is due. This balloon payment can be refinanced into a new loan.

How do balloon car loans work?

A balloon car loan is made up of 2 different loan repayment components. There are the regular periodic repayments over the term of the loan that pays off a portion of the principle. The remainder of the principle is due at the end of the fixed loan term and is paid in the form of a lump sum payment.

How to calculate car finance payments?

To calculate car loan repayments you will need to know the amount of the loan, including any lender fees and charges, the interest rate and the term of the loan. Terms range from 1 to 7 years. The interest rate is determined by your individual circumstances – work history, asset type and age, credit history and home ownership. Our car loan calculator can help you estimate your car loan repayments.

How to get a loan with AAA Finance

You have now looked at the figures and determined that your new loan repayments will fit into your budget.  Now you need an experienced finance broker to get you a competitive loan approval to save you time and money.  AAA Finance has a team of finance experts and access to over 40 different lenders.  We will get you the best deal in town!

4 easy steps to drive away

Our loan process takes 4 easy steps.

  1. Apply
  2. Get approved
  3. Sign your loan contract
  4. Settlement
How to get a loan with AAA Finance

1. Apply

Firstly, complete our application form.  We can fill out the form over the phone with you.  This usually only takes 5 minutes.  Alternatively, you can fill out the form in the comfort of your own home or workplace.  Secondly, email any requested supporting documents.  You will need to prove who you are, where you live and your income.  Documents may include drivers’ licence or passport; rental agreement or rates notice; pay slips, bank statements, or tax returns.  Once we have taken your application, we will be able let you know exactly what documents we will need to get your loan approved.

2. Get approved

AAA Finance assesses your application and discusses your loan with lenders that suit your circumstances.  We apply to the lender with the lowest interest rate and most suitable loan terms.  Most loan approvals take less than 24 hours.  Once your loan is approved, we contact you with the approval details – loan amount, interest rate, loan term, repayment amount.  We also discuss any approval conditions, such as, comprehensive insurance and repayments via direct debit.

3. Sign loan contract

Your loan contract is emailed to you for signing.  Simply sign and return by email along with any requested documents.  Comprehensive insurance is a requirement of all secured loans.  It protects you, your new purchase, and the lender.  A ‘certificate of currency’ is provided by your insurer as proof of insurance.  It lists the financier as an interested party on your insurance policy.

4. Settlement

The loan is sent to the lender for settlement.  Monies are usually transferred overnight to the seller or dealer.  Once settlement has occurred, we inform both you and seller. You can then pick up your new purchase and drive away!

Experience the AAA difference today - quick and easy finance along with exceptional customer service.

car loan calculator with balloon payment option
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