Car Loan Calculator
Work out your monthly car instalment, total interest and the true cost of financing your vehicle.
What this estimate includes
The method switch lets you model either legacy flat-rate hire purchase or EIR and reducing-balance financing. Both views keep the monthly instalment beside total interest so a low advertised rate is not mistaken for the effective borrowing cost.
Check before deciding
During the financing-method transition, lenders may quote products differently. Use the method stated in the offer and confirm early-settlement terms, rebates, fees and the disclosed EIR with the financier.
Frequently asked questions
How is my monthly car instalment worked out?
It is based on the amount financed, the interest rate and the loan term. The calculator shows the instalment plus the total interest and true cost of the vehicle in RM.
What is a flat rate versus a reducing rate?
A flat rate charges interest on the original amount for the whole term, so the effective rate is higher. A reducing rate charges interest only on the outstanding balance.
How does a bigger down payment change my instalment?
Putting more money down lowers the amount you finance, so both the monthly instalment and the total interest over the term go down. It can also help you qualify for a better rate.
Should I choose a longer or shorter loan term?
A longer term lowers the monthly instalment but you pay more interest overall and risk owing more than the car is worth. A shorter term costs more each month but less in total.