Home Loans

Personal Loans

Car Loans

Business Loans

Credit Cards



Home Loans

Personal Loans

Car Loans

Business Loans

Credit Cards


Truck Loan Calculator

See my repayments

How to use the truck loan calculator

Our truck finance calculator provides a quick estimate of how much the regular repayments and total costs for your truck loan will be.

To use the truck loan calculator, you’ll need to enter some details about your loan:


Truck purchase price

This is the value of the truck you wish to buy. Truck loans are secured by the vehicle you purchase and you can usually borrow 100% of the truck’s purchase price.


Initial deposit / Trade-in amount

This is optional. Enter an amount here if you are contributing a deposit toward the cost of the truck, or the amount you are offered when trading in your current vehicle. The final truck loan amount is calculated by subtracting the deposit or trade-in amount from the purchase price.

Sale icon

Interest rate and fees

The fixed interest rate and any upfront fees the lender will apply to your truck loan, and is used to calculate both the total amount of interest you will pay over the loan period and your scheduled repayment amount.

Calendar check icon

Loan term

This is the length of your truck loan as dictated by your loan agreement. The loan term is important as it will allow you to accurately calculate your monthly, fortnightly, or weekly payment amount and the overall interest cost. The shorter your loan term, the higher your scheduled repayments will be. But you’ll pay less in interest overall.

How are my truck loan repayments calculated?

The truck loan calculator estimates your regular repayments using the same formula lenders use to calculate loans. This means you get an accurate estimate of what your regular repayments will be.

Here’s how it works:

  • The regular repayments on your truck finance will depend on the loan amount, the interest rate and the loan term.
  • Interest (which is generally tax deductible if the truck is used for business purposes) is added to your truck loan every month, meaning your regular repayments need to cover the loan amount (the principal) and the interest.
  • At the start of the loan, more interest is added each month (because the loan amount is at its highest and interest is charged as a percentage of the loan amount).
  • But as you pay down the loan, the interest charges decrease. This means over time more of your repayments are used to pay off the principal.
  • The lender adjusts for this so that your repayment amount is always the same.
  • Truck loans generally have a fixed term and interest rate, so it’s unlikely your regular repayment amount will change during the loan term (it will if you get a variable rate truck loan)

Example of monthly truck loan repayments

Business loan amountMonthly repayments (7.50% p.a.)Monthly repayments (9.50% p.a.)































Truck loan repayment examples are calculated using monthly repayments with a fixed interest rate on a 5-year term. They do not include any fees that may be charged by a lender in addition to interest.

How is truck loan interest calculated?

The interest charged to your truck loan is calculated taking these factors into account:


Interest is applied to truck finance at an annual percentage rate (APR) of the loan balance (e.g. 8% p.a. or per annum)


But because the loan balance is constantly decreasing as you pay it off gradually, the interest is calculated daily based on the balance that day


Lenders then add interest to your loan monthly based on the total daily interest charges for the month

How is my truck finance interest rate calculated?

The interest rate on a truck loan will be calculated based on information you provide when you apply for the loan.

There are several factors involved, but it all boils down to how risky the loan is for the lender.

More risk equals a higher interest rate. Here are the main factors that determine the interest rate on a truck loan:

  • The loan amount
  • The loan term
  • The age of the truck
  • The size of the truck and its purpose
  • How long your business has been operating
  • Your and your business’s credit history (bad credit truck loans have higher interest rates)
  • Your business’s financial position
  • The type of truck finance you choose

Business loan guides and resources

Learn more about your business finance options and how to get the funding you need to grow your business.


Our Money Promise

Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money does not compare every Lender all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product.

This material has been prepared by Money Pty Limited (ABN 40 664 954 536) (Money, ‘us’ or ‘we’). Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C). The material is for general information only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Money, any of their related body corporates or any other person. To the maximum extent possible, 62C, Money, their related body corporates or any other person do not accept any liability for any statement in this material.

Money Pty Ltd trading as Money

ABN: 42 626 094 773 / ACL: 528698 / AFCA: 83955
Money is a corporate authorised representative (CAR 001307399) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C)

Money acknowledges Aboriginal and Torres Strait Islanders as the traditional custodians of country throughout Australia and their continuing connection to land, waters and community.

© Copyright 2024 Money Pty Ltd.