Car loan calculator Malaysia 2026
Convert car price, down payment, flat rate and tenure into monthly payment and total interest.
How is a car loan calculated in Malaysia? During the hire-purchase transition, a quotation may use a flat-rate method or reducing balance; confirm your lender's method. This calculator models only a hypothetical flat-rate case: loan amount equals car price minus down payment; total interest equals loan amount multiplied by annual flat rate multiplied by tenure; monthly instalment equals loan plus total interest divided by total months. A flat rate is not the same as an effective rate. The displayed effective-rate estimate uses flat rate × 1.8 as a rough educational shortcut, not a term-specific cash-flow IRR or a lender's quotation. This calculator shows the monthly payment, total interest, total payable and principal-versus-interest split so you can compare car prices before walking into a showroom. It is an estimate, not bank approval.
Calculator last updated 9 Aug 2026 · the flat rate is your input; the 3.5% default is illustrative, not a bank offer
Open in AI Finance HubQ.What is a flat rate?
It calculates interest on the original loan principal for the full tenure.
Q.Why show effective rate?
It helps you compare flat-rate car loans with reducing-balance credit products.
Q.Can tenure exceed 9 years?
This Phase 1 calculator caps tenure at 9 years to match common hire-purchase planning.
For a side-by-side term example, compare five, seven and nine years of car-loan payments and total cost. It uses a hypothetical flat-rate contract; confirm the method in your own quotation.