Total cost of credit
The full amount a loan costs you, including all interest and fees, not just the amount you borrow. It shows the true price of finance.
The total cost of credit is everything you pay for a loan on top of the car price. It adds up all the interest over the term plus fees like the establishment fee. It is the real number to focus on.
A low weekly payment can look great while hiding a high total cost, usually because the loan term is long and interest keeps building. Two loans with the same payment can cost very different amounts overall.
Under the CCCFA, lenders must disclose the total cost of credit before you sign, so you can always ask to see it in dollars.
Use the repayment calculator to see how the rate and term change the total, then get your fair rate to compare real options.
See your repayments, then get a fair rate.
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