Home > Loan Calculators > Debt Consolidation Calculator
Our debt consolidation calculator can help you estimate your regular repayments on a debt consolidation loan. You can adjust the amount you’d like to borrow, repayment period and the interest rate within the calculator.
Debt summary: $9114
Loan Amount: $2,400
*The repayments shown by our car loan repayment calculator is an estimate based on the information you provided. Actual repayment amounts may vary depending on your individual circumstances and your lender.
up to 8.89%
up to 12.42%
up to 11.89%
up to 18.57%
1. Enter the amount you’d like to borrow
In the I’d like to borrow box, let us know how much you’d like to borrow to purchase your car.
You can play around with different amounts to see how your repayments might change.
2. Select your loan term
Choose your loan term using the slider under Paid back over. This is the amount of time that you’ll
have to repay your debt consolidation loan.
3. Choose your preferred interest rate
In the box under With an interest rate of, type in your interest rate. The debt consolidation loan interest rate is a
percentage of the amount borrowed that you will have to pay back on top of your loan. It is essentially
a fee that you are charged for borrowing the money to purchase a car. The lower your interest rate is, the
less you’ll pay overall in debt consolidation loan repayments.
4. Get your estimated repayments
Once you’ve filled out all the required fields, click Calculate repayments. You'll be shown
your total repayable amount as well as your estimated weekly, fortnightly and monthly repayments.
A debt consolidation loan calculator can help you calculate your weekly, fortnightly or monthly repayments. However, The overall cost of your loan depends on a number of different factors like interest rates and fees.
First things first – what is the vehicle purchase price? This will greatly differ depending on the model, make, year and condition of the car you wish to purchase. For example, if you are planning on buying a second-hand car, this will probably cost you less than buying one brand new from the dealership. Therefore, you might not need to borrow as much money.
Though it sounds like common sense, the vehicle purchase price is an important element of the initial calculation of your debt consolidation loan. You should work out what you can reasonably afford given your lifestyle, income and overall financial situation.
Some dealers will not include stamp duty and other on-road costs in the vehicle purchase price (mainly for second-hand cars). So, you may also need to factor this into your loan amount needs.
The vehicle purchase price and on-road costs will impact the loan amount you will need to take. It will give you an indication of your suitable loan amount. For example, for more expensive cars, you will need a more expensive loan.
It is up to you to decide what loan term will work best for you. If you would like to pay off the loan quickly, you will need to make larger repayments more often. If you are happy to pay the loan off over a number of years, you may spread out the repayments and pay less in each repayment. This is, however, subject to what the contractual amount is - unless you’re experiencing hardship.
Note that repaying your loan quickly will have the added benefit of paying less interest overall. However, loan repayments shouldn’t become too stressful, so we urge you to be reasonable in paying off your debt consolidation loan. Sometimes, the flexibility afforded by smaller payments can be worth some added interest.
Interest is a small percentage calculated on the loan amount that’s payable on top of your loan repayments. It is essentially a small fee charged by us for our service of providing money to you upfront.
Interest is calculated according to available interest rates. Interest rates are affected by a variety of factors, such as your credit score and what the lender can offer you in the current market.
This is where the maths can get a bit confusing, so a debt consolidation loan calculator will do the work for you! It will take into account the relevant interest fee in your repayments, revealing to you the sum of interest per repayment.
Jacaranda is 100% online. So, we do not accept applications over-the-phone. However, our friendly team is more than happy to answer any questions you may have.
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Reviews current as of June, 2021.
💰 Personal Loans starting from 8.69% (12.05% p.a. Comparison Rate)
🚗 Car Loans starting from 5.29% (5.84% p.a. Comparison Rate).
We never charge early repayment or exit fees.
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It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
The Australian Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.