Car finance
Work out the monthly payment, total interest and repayment schedule of a car loan.
Your loan
Example value. Enter the APR from your quote.
Please note: borrowing money costs money.
What do you pay?
Per month
€301.48
60 months
Total interest and costs
€3,089
20.6% of the amount borrowed
Split of what you repay
- Amount borrowed€15,000 · 83%
- Total interest and costs€3,089 · 17%
Repayment schedule, first 12 months
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | €301.48 | €95.35 | €206.13 | €14,793.87 |
| 2 | €301.48 | €94.03 | €207.44 | €14,586.42 |
| 3 | €301.48 | €92.72 | €208.76 | €14,377.66 |
| 4 | €301.48 | €91.39 | €210.09 | €14,167.57 |
| 5 | €301.48 | €90.05 | €211.43 | €13,956.14 |
| 6 | €301.48 | €88.71 | €212.77 | €13,743.37 |
| 7 | €301.48 | €87.36 | €214.12 | €13,529.25 |
| 8 | €301.48 | €86.00 | €215.48 | €13,313.77 |
| 9 | €301.48 | €84.63 | €216.85 | €13,096.91 |
| 10 | €301.48 | €83.25 | €218.23 | €12,878.68 |
| 11 | €301.48 | €81.86 | €219.62 | €12,659.06 |
| 12 | €301.48 | €80.47 | €221.01 | €12,438.05 |
How is the monthly payment of a car loan calculated?
Most car loans are annuity loans: you pay the same amount every month. At first that amount is mostly interest, later mostly principal, because the balance falls. The calculator uses the annual percentage rate (APR, in Dutch JKP): the total cost of the credit per year, including interest and mandatory costs.
What does borrowing €15,000 for a car cost?
Monthly payment and total interest for €15,000 at different terms and APRs (example calculations):
| Term | 5.9% APR | 7.9% APR | 9.9% APR |
|---|---|---|---|
| 36 months | €455 (interest €1,366) | €467 (interest €1,829) | €480 (interest €2,292) |
| 48 months | €351 (interest €1,826) | €364 (interest €2,452) | €377 (interest €3,081) |
| 60 months | €288 (interest €2,294) | €301 (interest €3,089) | €315 (interest €3,892) |
| 72 months | €247 (interest €2,770) | €260 (interest €3,740) | €274 (interest €4,724) |
A longer term lowers the monthly payment, but you pay interest for longer. A bigger down payment or trade-in lowers both.
Which types of car finance are there?
- Personal loan: fixed amount, fixed rate and fixed term. You own the car straight away.
- Revolving credit: a credit limit you draw from and repay; the rate is usually variable.
- Dealer finance: often a loan or financial lease the dealer arranges with a lender. Compare its APR with a separate loan.
- Private lease: you rent the car for a fixed monthly amount and never own it.
What should you watch out for?
Compare offers on the APR and the total amount to repay, not just the monthly payment. A lender in the Netherlands needs an AFM licence and must check whether you can afford the loan. Don’t borrow more than you need and allow for the car’s running costs, such as insurance, maintenance and road tax. Add them up in monthly cost of ownership.
Please note: borrowing money costs money.
Frequently asked questions
What is the annual percentage rate (JKP)?
The APR (JKP) is the total price of a loan per year, expressed as a percentage of the amount borrowed. It includes interest and mandatory costs. Because every lender has to calculate it the same way, you can use it to compare loans fairly.
Is a longer term cheaper?
No. A longer term lowers your monthly payment, but you pay interest for longer, so the total cost goes up. The loan also runs on while the car loses value. Choose the shortest term whose monthly payment you can comfortably afford.
What does "Let op! Geld lenen kost geld" mean?
It is the warning that accompanies consumer credit advertising in the Netherlands: "borrowing money costs money". It reminds you that you pay interest and costs on top of the amount you borrow. This calculator shows how much that is in your case.
Should I put down more money?
A bigger down payment or the trade-in value of your current car lowers the amount borrowed, and with it both the monthly payment and the total interest. Do keep a buffer for unexpected costs. To see what your current car is worth, run a valuation first.