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

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National Australia Bank - Get your dream car today!

Tailor your loan to suit your financial needs!

You are able to borrow between $5,000 and $55,000 with loan term repayments between 1 to 7 years, your choice. You have the option of fixed or variable interest rates, for variable rate loans – you could make extra payments and redraw them at any time you want, you also get to choose to repay weekly, fortnightly or monthly this option is to assist you with budgeting and requirements, you are able to make lump sum repayment whenever you wish at no extra charge, perhaps you would prefer to do an early settlement at no fees charged and they have a quick document acceptance online.

They are well aware that time is of an essence, so to make it as easy as possible, you can accept your vehicle loan documents in NAB Internet Banking. You don't have to wait in a queue at a branch or have any printing and signing of documentation.

Conditional approval

• Are you still searching for the right car? Why not get upfront conditional approval for up to three months when you apply online?
• Have all your finances sorted this will assist you to negotiate a better deal plus you’ll have the confidence that you are able to borrow what you need as well as the affordability of repayments.
• In order to provide conditional approval, they will need you to complete a credit check, this will be recorded on your credit file as they do not offer bad credit loans.

Getting same day funds

In order to receive your funds on the same day, apply at your nearest branch and bring along the following documentation:

If you're applying for a joint loan, the other applicant, your latest payslip, if your salary is not paid into a NAB account, your most recent Financial/Tax Statement, should you be self-employed, your credit card or store card statements, should you be consolidating debt, Identification, Photo ID or a NAB card, if you already bank with them, or 100 points of ID, if you're new to NAB.

Self-employed customers will need to be verified

• Bring along your most recent personal income tax return, your most recent notice of assessment, if your business runs as a partnership, company or trust.
• They will also need the following documentation: Partnership tax return, Company tax return, Trust tax return.
• You are welcome to email these documents to personal.loan.applications@nab.com.au.

Increasing your chances of approval

Here are some guidelines to increase your chances of being approved.

1. Check that you’re eligible to apply – you need to be 18 years of age or older, have a regular income, have a good credit record, make sure that you are able to make repayments on your loan, you need to be an Australian citizen or have permanent residency or a New Zealand citizen holding a 457 Visa and of course you need to live in Australia.
2. Check how much you can borrow – log onto their website and use their borrowing calculator to get a more or less idea of how much you are able to borrow.
3. 3. Build a good account history with them – arrange for your salary to be paid into your NAB account (if you have one) in order for them to establish a transaction history, avoid overdrawing on your account this is to show that you are able to manage your finances effectively.

If you are new to NAB, begin a relationship first! It’s easy! Open a transaction account and have your salary paid directly to your NAB Account to start your transaction history. You can also apply for a short-term loan and many other financial products.

This will help them understand your financial position, but it won’t guarantee your approval of your application.

1. Set up a regular savings plan – Prove that you are able to your loan by saving a set amount every week or month, this will show them that you are more likely to manage regular loan repayments as well.
2. Understand your credit report – A negative credit record could affect how much you can borrow as your chances of approval. Overdue bills missed credit card payments, arrears or debt collection could be recorded at a credit reporting body.

What happens next?

• They will assess your application and let you know the outcome within two working days
• Should you be approved and you are an internet banking client you are able to choose whether you would prefer your documents to be accepted online, or you could visit your nearest branch to sign your documentation there.
• Once your documents have been signed the money will be deposited into your NAB account.
• When you've signed your documents, they'll deposit funds into your NAB transaction account.

Please be advised that should you want to apply online you must be a NAB customer.