ABN Car Loan Calculator: Repayments With a Balloon
Also called: business car loan calculator, self-employed car loan calculator, ute finance calculator.
Quick answer
This ABN car loan calculator estimates what a car, ute or van bought through your ABN costs per week, fortnight or month, from the price, deposit, term, any balloon and an example rate you can change. It is an estimate for planning, not a quote or an approval.
See what your car or ute costs through your ABN.
Set the price, the term and how much of the driving is for the business. The ute fills to your business-use share; the repayment is the same either way.
Under the 2026-27 car limit of $69,883 (ATO, read 27 September 2026). The limit caps depreciation and the GST credit on a car, not the loan.
Lenders usually cap the balloon lower on older vehicles. Nil balloon is allowed.
Example rate as at 27 September 2026, not an offer. Change it to the rate you have been quoted.
Changes the share line, not the repayment.
- Est. monthly
- $923.03
- Total interest
- $10,382
- Business use
- 80%
- Car limit
- Price is under $69,883
$923.03 a month over 60 months on $45,000 financed, no balloon, at the 8.49 per cent example rate. Total interest about $10,382.
Estimates only. This calculator is not a quote, an offer or an approval. The result depends on the figures you enter and the example rate shown; the lender's assessment decides the actual rate, term and repayment. Nick Lim is an FBAA Accredited Finance Broker with Switchboard Finance.
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How are ABN car loan repayments calculated?
An ABN car loan repayment is the amount financed, less the present value of any balloon, amortised over the term at the interest rate and paid in arrears, at the end of each period.
Monthly repayment = (amount financed − balloon ÷ (1 + r)n) × r ÷ (1 − (1 + r)−n), where r is the annual rate ÷ 12 and n is the number of months.
This is the standard amortisation formula, the same one set out in the Reserve Bank of Australia's Research Discussion Paper 2021-10, Appendix A, with the balloon added as an amount left owing at the end. The calculator assumes:
- Repayments are made in arrears, at the end of each month.
- Monthly is the base figure; weekly is the monthly repayment × 12 ÷ 52 and fortnightly × 12 ÷ 26.
- The balloon is a percentage of the vehicle price, paid in one amount at the end of the term.
- The business-use percentage changes the share line only, never the repayment.
- Fees, insurance, stamp duty and on-road costs are not included unless you add them to the price.
- GST sits inside the price you enter; enter the ex-GST amount if that is what you are financing.
How the loan itself works, from the documents a lender asks for to settlement, is covered in the ABN car loan guide.
Which rate should you enter?
Enter the rate you have been quoted; the 8.49 per cent full doc example rate is a planning figure as at 27 September 2026, not an offer. Car rates move with the strength of the file, the vehicle's age, the deposit and whether the file is full doc, low doc or a new ABN, which the guide explains under what an ABN car loan costs.
What does a $30,000, $45,000 or $70,000 car cost per month through an ABN?
About $923 a month on $45,000 over 60 months with no balloon at the 8.49 per cent example rate. The table shows three prices across common terms, with and without a 30 per cent balloon.
| Amount financed | 36 months, nil balloon | 36 months, 30% balloon | 60 months, nil balloon | 60 months, 30% balloon | 84 months, nil balloon |
|---|---|---|---|---|---|
| $30,000 | $947 | $726 | $615 | $494 | $475 |
| $45,000 | $1,420 | $1,090 | $923 | $742 | $712 |
| $70,000 | $2,209 | $1,695 | $1,436 | $1,154 | $1,108 |
Sources: formula from RBA Research Discussion Paper 2021-10, Appendix A (rba.gov.au, November 2021, read 27 September 2026). The 8.49 per cent full doc example rate is an indicative practitioner figure as at 27 September 2026, not a quote. Monthly repayments in arrears, rounded to the dollar, no deposit and no fees; a 30 per cent balloon leaves that share of the price owing at the end of the term.
A balloon lowers the instalment and raises the total interest: the $45,000 default costs about $10,382 in interest with no balloon and about $12,998 with a 30 per cent balloon over 60 months, with $13,500 still owing at the end. What a balloon payment is, and what to do when one falls due, is covered in the guide to balloon payments and residual values.
If you have no recent tax returns, our note on low doc car loans with an ABN explains what lenders read instead. For how we structure car and ute finance for business owners, see ABN car loans.
Does the car limit change the numbers?
No, the car limit does not change the repayment; it caps the cost a business can use to work out depreciation on a car and the GST credit it can claim, so it changes the tax side, not the loan.
The car limit for 2026-27 is $69,883, and for a car priced above it the most GST credit you can generally claim is $6,353, one-eleventh of the limit (ATO, Car thresholds from 1 July, QC107449, read 27 September 2026). The limit applies to a car designed to carry a load of less than one tonne and fewer than nine passengers; a vehicle designed to carry one tonne or more, such as a utility truck or panel van, is not a car under that definition (ATO, QC33720, read 27 September 2026).
The calculator finances whatever price you enter and does not cap it at the limit; it only flags a price above $69,883, so you know to ask the tax question. Two worked examples, a work ute under the limit and a passenger car above it, are in the chattel mortgage guide under the car limit in practice. Whether the limit applies to your vehicle is a question for your accountant.
What does the business-use percentage change, and why does the lender ask?
The business-use percentage does not change the repayment; it sets the share of the interest and depreciation you may be able to claim, and the lender asks because an ABN car loan is written for a business purpose.
The ATO's position is that the private-use share of motor vehicle expenses is not claimable and that you must be able to identify and justify the business-use percentage you claim, which is what a logbook records (ATO, QC33720, read 27 September 2026). The business vehicle finance guide covers how to substantiate business use with a logbook.
Lenders ask you to sign a business purpose declaration because credit used wholly or mainly for business sits outside the consumer credit rules, so the declaration has to be true. The ABN car loan guide sets out what counts as business use and who qualifies. The calculator's share line is general information, not a tax figure or a saving; your accountant confirms the share you can claim.
Is a novated lease the same thing?
No, a novated lease is a three-way agreement between an employer, an employee and a lease provider, in which the employer takes on the lease repayments and deducts them from the employee's salary (ATO, QC65884, read 27 September 2026). It is a salary packaging arrangement for employees, so this calculator, which models a car or ute bought through your own ABN, does not cover it. How a chattel mortgage, finance lease and hire purchase compare for a business vehicle is set out in the business vehicle finance guide.
What else do people ask about ABN car loan repayments?
What are the repayments on a $40,000 car loan through an ABN?
About $820 a month over 60 months with no balloon at the 8.49 per cent example rate, or about $659 with a 30 per cent balloon. Change the rate, term and balloon in the calculator to match your quote.
Can I add a balloon to an ABN car loan?
Usually, yes: a balloon lowers each repayment by leaving part of the price owing at the end of the term, but it adds to the total interest and you owe it when the term ends. The calculator lets you set it from nil to 40 per cent of the price.
Does the car limit affect my repayments?
No, the repayment depends only on the amount financed, the rate, the term and any balloon. The car limit caps the depreciation and GST credit a business can claim on a car, which is a question for your accountant.
Can I use this calculator for a ute or van?
Yes, the maths is the same for a car, ute or van bought through your ABN. What can differ is the balloon a lender allows and whether the car limit applies, because a vehicle designed to carry one tonne or more is not a car under the tax definition.
Is this an approval?
No, it is an estimate from the figures you enter and an example rate; a lender's assessment decides the actual rate, term and repayment. Send your figures through the enquiry form if you want them checked against live lender policy.