Car Loan Calculator
Work out your monthly car instalment, total interest and the true cost of financing your vehicle.
What this estimate includes
The estimate calculates flat-rate hire-purchase interest on the original financed amount and also shows the equivalent effective interest rate. Keeping both rates together makes offers with different terms easier to compare.
Check before deciding
The approved loan amount, vehicle taxes, fees and early-settlement terms depend on the bank and vehicle. Check the disclosed EIR and the full hire-purchase agreement before comparing offers.
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 S$.
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.