Equipment finance — Calculator

Truck Finance
Calculator

Estimate your truck finance repayments before you apply. Compare scenarios with and without a balloon payment. Free, instant, no signup required.

Last updated: June 2026 | Reviewed by Chris Rowlands, Special Projects

0% (no balloon)0%50%
Monthly repayment
$4,008
Total interest
$40,455
Balloon due
$0

Financed amount: $200,000 · Indicative only — not a finance offer

At a glance

Key takeaways

  • Use this calculator to estimate your truck finance repayments before you apply. Enter the purchase price, interest rate, loan term, and optional balloon payment to see your monthly repayment and total cost.
  • The calculator shows indicative figures only — your actual rate depends on your credit profile, business history, and the lender your broker matches you with.
  • A balloon payment reduces your monthly repayments but increases total interest paid. Use the calculator to compare scenarios with and without a balloon.
  • Current truck finance rates for established operators with clean credit typically range from 5.5% to 10% p.a. Rates current as of June 2026.
Guide

How to use this calculator

Purchase price: Enter the total cost of the truck including GST. If you're GST-registered and using a chattel mortgage, you'll claim back the GST component — but the finance is typically written on the GST-inclusive amount.

Deposit: Enter any upfront payment you're making. A deposit reduces the financed amount and can improve your rate. Not always required — many established operators finance 100% of the purchase price.

Interest rate: Enter the rate you've been quoted, or use an indicative rate:

  • Established operator, clean credit, new truck: try 6%–7.5%
  • Established operator, used truck: try 7.5%–9%
  • Newer operator or low-doc: try 9%–12%
  • Not sure? Start with 8% as a middle estimate, then talk to a broker for your actual rate.

Loan term: Most truck finance runs between 3 and 7 years. Shorter terms mean higher monthly repayments but less total interest. Longer terms ease cash flow but cost more overall.

Balloon payment: A balloon (residual) is a lump sum due at the end of your loan term. Common balloon amounts for trucks are 20%–30%. Setting this to 0% means you'll own the truck outright at the end with no final lump sum.

Understanding results

What the numbers mean

Monthly repayment

The fixed amount you'll pay each month. Divide by 4.33 for weekly estimates, or multiply by 12 for annual finance cost.

Total interest paid

The total cost of borrowing — the difference between what you financed and what you'll repay over the life of the loan (excluding the balloon). On a $200,000 truck over 5 years, the difference between 6.5% and 10% is approximately $19,000 in extra interest. How to get the best truck finance rate.

Balloon payment amount

If you've included a balloon percentage, this shows the dollar amount due at the end of the term. This amount will need to be paid in cash, refinanced, or covered by trading in the truck. Note that you pay interest on the balloon amount throughout the loan — so while a balloon reduces monthly repayments, total interest increases.

Comparison

Balloon vs no balloon — compare scenarios

Example: $250,000 new Kenworth, 6.5% p.a., 5-year term

ScenarioMonthly repaymentTotal interestBalloon due at end
No balloon (0%)~$4,890~$43,400$0
20% balloon ($50,000)~$4,010~$40,600$50,000
30% balloon ($75,000)~$3,570~$39,200$75,000

The balloon option reduces your monthly repayment by ~$880–$1,320 — meaningful for cash flow. But at the end of year 5, you owe $50,000–$75,000 in a lump sum. For trucks with strong resale value, the balloon can often be covered by selling or trading in the truck. For trucks you plan to keep long-term, paying a higher monthly repayment now avoids the lump sum later.

Finance structures explained — chattel mortgage, hire purchase & balloon payments.

Limitations

What this calculator doesn't include

  • Establishment fees — one-off fees charged by some lenders, typically $400–$900 for truck finance
  • Monthly or annual account-keeping fees — ongoing fees charged by some lenders
  • Insurance costs — comprehensive insurance on the truck is typically required by the lender
  • Comparison rate — includes fees and charges for a more complete cost picture. Ask your broker for the comparison rate on any quote.
  • GST implications — if you're GST-registered and using a chattel mortgage, you can typically claim back the GST on the purchase price, reducing the effective cost

For a precise quote that includes all fees, charges, and the comparison rate, talk to a Novara broker.

FAQ

Frequently asked questions

What interest rate should I use in the calculator?

If you've been quoted a rate, use that. If you haven't applied yet, use an indicative rate based on your profile: 6%–7.5% for established operators with clean credit and a new truck, 7.5%–9% for used trucks or newer operators, 9%–12% for low-doc or credit-impaired applications. For a personalised rate estimate, talk to a broker — there's no credit check required just to find out what rate you'd likely receive.

Is the balloon payment included in the interest calculation?

Yes. Interest is calculated on the full financed amount (including the balloon) for the entire loan term. This means you're paying interest on the balloon amount throughout the loan, even though you don't pay it until the end. That's why total interest doesn't decrease proportionally with a higher balloon.

Can I calculate weekly or fortnightly repayments?

This calculator shows monthly figures. To estimate weekly repayments, divide the monthly figure by 4.33. For fortnightly, divide by 2.17. Note that some lenders offer genuine weekly or fortnightly repayment schedules (not just monthly divided by 4), which can reduce total interest slightly through more frequent principal reduction.

How accurate is this calculator?

It provides a close estimate based on standard amortisation calculations. Your actual repayments will differ slightly due to establishment fees, account-keeping fees, the exact repayment start date, and the specific lender's calculation method. Treat the results as a solid planning tool, not a binding quote.

Ready for a real quote?

The calculator gives you the numbers. A broker gives you the deal. Novara compares truck finance across 60+ specialist heavy vehicle lenders. No cost, no obligation, no credit check to start.

1800 855 516  ·  info@novarafinance.com.au

This calculator provides estimates only and does not constitute a finance offer or financial advice. Actual repayments will depend on lender fees, interest calculation method, and your specific circumstances. All truck finance applications are subject to lender criteria and approval. Rates mentioned are indicative and current as of June 2026 — individual circumstances vary. Novara Finance Pty Ltd | AFSL 517192 | ABN 99 687 789 144.