Free RM25Calculate how much you can save by refinancing your car loan
Check mudah.my or carlist.my for market value
Current Monthly Payment
RM 1,291.67
Current market rates: 3.5% - 5.5% p.a.
Max tenure depends on car age (car must be <10 years at loan end)
Include Cash Out
Get extra cash based on your car equity
Penalty amount: RM 1,000
RM 271
Save RM 3,250 per year
| Current | Refinance | Savings | |
|---|---|---|---|
| Monthly Payment | RM 1,292 | RM 1,021 | +RM 271 |
| Interest Rate | 6.0% | 4.5% | -1.5% |
| Loan Tenure | 4 years | 5 years | - |
| Total Interest | RM 12,000 | RM 11,250 | +RM 750 |
| Total Payment | RM 62,000 | RM 61,250 | +RM 750 |
Car refinancing is RECOMMENDED! You'll recover costs in 5 months.
Compare offers from 10+ banks. Free, no obligation.
| Lender | Interest Rate | Notes |
|---|---|---|
| Toyota Capital | 3.5% - 4.5% p.a. | Toyota cars only |
| Public Bank | 3.5% - 4.8% p.a. | |
| Maybank | 3.5% - 5.0% p.a. | Based on car age & credit |
| RHB | 3.6% - 5.2% p.a. | |
| CIMB | 3.8% - 5.5% p.a. | |
| Hong Leong | 3.8% - 5.5% p.a. | |
| AmBank | 4.0% - 6.0% p.a. | |
| Bank Rakyat | 4.2% - 5.8% p.a. | |
| AEON Credit | 5.0% - 8.0% p.a. | Easier approval |
* Rates are indicative and subject to credit assessment. January 2026
Car refinancing means replacing your existing car loan with a new loan at better terms. You can:
Note: Malaysian car loans use FLAT RATE, not reducing balance like housing loans. This means your interest is calculated on the full loan amount throughout the tenure.
| Factor | Car Refinance | Personal Loan |
|---|---|---|
| Interest rate | 3.5% - 6% | 6% - 18% |
| Collateral | Car as security | Unsecured |
| Max amount | Based on car value | RM10k - RM150k |
| Tenure | Up to 7-9 years | 1-7 years |
| Approval | Need car valuation | Faster |
Use mudah.my or carlist.my to find market value
Know your outstanding balance & penalty
Apply to 2-3 banks for best offer
Bank will value your car
Usually 3-7 working days
Bank pays off old loan - Total timeline: 2-4 weeks
Most banks require car to be less than 10 years old at the end of loan tenure. So a 5-year old car can get max 5-year refinance.
Yes, most car loans in Malaysia are hire purchase. The new bank will settle your existing HP.
Usually 2-3% of outstanding loan. Some banks waive this for refinancing to them.
Yes, if your car value is higher than your outstanding loan. You can borrow the difference.
There will be a new credit check, but minimal impact if you pay on time.
Refinancing may not be worth it. Use our calculator to check break-even period.
Jimat RM 271/bulan · +FREE RM100
Semak kelayakan sekarang · Bonus RM100 ShopeePay (kod 22CKLWLLB)
Plus RM25 free and 50% OFF fees for 30 days when you sign up with code 4G4TEP.
Monthly DCA → RM1M at 8% p.a.
| Monthly | 10 yrs | 20 yrs | 30 yrs |
|---|---|---|---|
| RM300/mo | RM55k | RM177k | RM449k |
| RM500/mo | RM91k | RM297k | RM749k |
| RM670/mo | RM122k | RM397k | RM1.0M |
Use code 4G4TEP · Min. RM100 deposit · Offer expires 29 May 2026 · T&Cs apply
