Car Calculator Malaysia 2026

BSN and Bank Islam offer the lowest hire purchase flat rates at 2.35% p.a. for new cars, followed by Affin Bank at 2.92%. Most major banks (Maybank, Public Bank, CIMB) are in the 3.3–3.75% range for new cars. The difference between the best and worst rates on an RM80,000 loan is approximately RM4,200 in total interest over 7 years.

From 1 June 2026, the Hire-Purchase (Amendment) Act 2025 abolishes the Rule of 78 for all new agreements. Banks are now required to calculate early settlement rebates on a reducing balance basis — making it financially worthwhile to pay off your car loan early. Banks must also display the Effective Interest Rate (EIR) in all marketing and loan agreements.

Third party car insurance starts from approximately RM300/year for a small car. Comprehensive insurance typically costs 2–4% of the car's market value — a RM80,000 car pays roughly RM1,600–3,200/year depending on the insurer, age, and NCD. Your No Claim Bonus (NCB) reduces premiums by up to 55% after 5 claim-free years.

For petrol/diesel cars, road tax is based on engine CC. A 1,600cc car pays RM90/year; a 2,000cc car pays RM380/year. For electric vehicles from 2026, a new progressive kW-based formula applies — a 150kW EV (e.g. BYD Atto 3) pays RM160/year, and a 280kW EV pays RM455/year.

Monthly instalment = (Loan × (1 + Flat Rate × Years)) ÷ (Years × 12). Example: RM80,000 at 2.35% over 9 years = RM80,000 × 1.2115 ÷ 108 = RM897/month. Most banks require a minimum 10% down payment. Use our car loan calculator above for instant results.

Bjak compares 16 insurers simultaneously and is best if you want the widest choice plus optional VIP add-ons (roadside assist, unlimited towing). Shopee Insurance is best if you want free road tax renewal bundled with the policy plus RM25 ShopeePay cashback. Both show instant prices with no agent commission added.