EV Loan Hub EV Loan Calculator

How to use our EV Loan Calculator (Australia)

Our EV Loan Calculator helps you estimate electric vehicle loan repayments and total loan cost based on your vehicle price, deposit, trade-in, interest rate, loan term, repayment frequency, fees, optional balloon (residual) and EV-specific costs such as home charger setup. It’s important because it lets you stress test affordability before you apply, understand the long-term cost of interest, and compare different loan structures (for example weekly vs monthly repayments, or adding a balloon to reduce regular repayments).

Step-by-step: complete each section for the best result

1. Vehicle price ($): Enter the drive-away price (or the best estimate). If you only know the base price, consider adding unavoidable on-road costs outside the calculator.
2. Cash deposit ($): Enter the cash you will contribute upfront. Higher deposits usually reduce interest paid because you borrow less.
3. Trade-in value ($): Enter the amount you expect to receive for your trade-in vehicle.
4. EV rebate / incentive / discount ($) (optional): Enter any rebate or discount that effectively reduces what you need to finance (ensure you meet eligibility rules).
5. Home charger / setup cost to finance ($): Add charger, installation and switchboard upgrade costs if you plan to roll them into the loan.
6. Upfront fees financed ($): Add establishment fees you expect to finance rather than pay upfront.
7. Interest rate (% p.a.): Use the annual rate you have been quoted (or a conservative estimate).
8. Loan term (years) and repayment frequency: Choose how long you’ll repay the loan and whether repayments are weekly, fortnightly or monthly.
9. Balloon / residual: Select no balloon, a percentage of vehicle price, or a dollar amount, then enter the balloon value. A balloon can lower regular repayments but leaves a lump sum owing at the end.
10. Extra repayment per period ($): Add a voluntary extra amount to see potential interest savings and faster payoff.

Optional EV running-cost comparison

Enter your estimated EV charging cost per month, petrol/diesel equivalent per month, and servicing/maintenance saving to see the estimated monthly running-cost difference and the estimated monthly loan minus running-cost benefit.

How to interpret the results

Review Amount financed, Regular repayment, Total interest, Total repayment cost, Balloon / residual and Number of repayments. Use the charts and amortisation schedule to see how each repayment splits between principal and interest and how the balance reduces over time. If the results feel tight, try a shorter term, a higher deposit, a smaller balloon, or higher extra repayments.

ASIC compliance note

This calculator provides general information and estimates only. It does not consider your objectives, financial situation or needs. Actual repayments, fees, credit approval and balloon requirements vary by lender and applicant, and interest rates may change. Consider the relevant credit contract disclosure documents and seek independent advice if needed.