Car Loan Calculator
Determine your monthly repayments for your next vehicle. Our calculator uses the standard fixed-rate formula used by banks in Malaysia.
Loan Details
Vehicle Specifications
NewAnnual Road Tax
RM 0
Annual Insurance (Est.)
RM 0
Total Cost of Ownership
Over 7 YearsEstimated Installment
per month
Includes monthly insurance & road tax provision
Monthly Installment
RM 0
Monthly Installment
standard car loan calculation
Real Commitment
RM 0
Includes insurance & road tax provision
How Car Loan Interest is Calculated in Malaysia
In Malaysia, most car loans (Hire Purchase) use a Fixed Interest Rate. Unlike home loans where interest is calculated on a reducing balance, car loan interest is calculated based on the initial loan amount for the entire tenure.
Monthly Installment = (Loan Amount + Total Interest) / (Tenure × 12)
This means the amount of interest you pay remains the same every month. It's important to negotiate for the lowest flat rate possible. Common rates in Malaysia range between 2.3% to 3.8% depending on the brand and model.