Car Loan Calculator Malaysia 2025
Use our free Car Loan Calculator Malaysia to estimate your monthly instalments, total interest, and repayment schedule. Whether you are buying a Proton, Perodua, or imported car, this tool helps you make smarter financial decisions before committing to a loan.
Why Use a Car Loan Calculator?
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Instantly estimate your monthly repayment
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Compare different loan periods, interest rates, and down payments
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See the breakdown of principal vs interest over time
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Avoid surprises by knowing your total repayment in advance
Car Loan Basics in Malaysia
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Maximum tenure: Up to 9 years (108 months) under hire purchase law
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Down payment: Usually 10% for new cars, up to 20% or more for used/recond cars
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Margin of finance: Banks typically finance up to 90% of car price
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Early settlement: May include a rebate or penalty, depending on bank terms
Current Car Loan Interest Rates 2025
Typical bank financing rates: ~2.8% – 4.0% per annum
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RHB Auto Financing-i: From ~2.10% p.a. (promotional campaigns for EV/hybrid)
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Bank Islam Vehicle Financing-i: ~2.5% – 3.3% p.a. depending on car type
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Maybank / CIMB / Public Bank: Average ~3.0% – 3.5% p.a. for new passenger cars
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Commercial / used cars: Rates may go above 4.0%
Tip: Always check the latest promotions, as banks run seasonal campaigns.
How Instalments Are Calculated
Formula used by banks:
Monthly Payment=LoanAmount×monthlyRate1−(1+monthlyRate)−n\text{Monthly Payment} = \frac{LoanAmount \times monthlyRate}{1 – (1 + monthlyRate)^{-n}}
Where:
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Loan Amount = Car Price – Down Payment
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monthlyRate = Annual Rate ÷ 12
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n = Loan Tenure (months)
Example:
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Car price: RM 90,000
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Down payment: 10% (RM 9,000)
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Loan tenure: 7 years
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Interest rate: 3.5%
→ Monthly repayment ≈ RM 1,020
Example Scenarios
| Scenario | Car Price | Down Payment | Tenure | Rate | Monthly | Total Interest |
|---|---|---|---|---|---|---|
| A | RM 90,000 | 10% | 7 yrs | 3.5% | ~RM 1,020 | Medium |
| B | RM 90,000 | 20% | 5 yrs | 3.24% | Higher monthly, less total interest | Low |
| C | RM 90,000 | 10% | 9 yrs | 3.75% | Lower monthly, but total repayment much higher | High |
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Shorter tenure = higher monthly, lower cost overall
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Longer tenure = lower monthly, but pay more in interest
Factors Affecting Car Loan Rates
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Credit score (CTOS / CCRIS) → strong history = better rates
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Tenure → longer loans often cost more
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Car type & age → new/national cars usually cheaper to finance
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Bank promotions → special campaign rates may be available
Eligibility & Documents Needed
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Age 21–60 years (varies by bank)
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Malaysian IC / passport + valid driver’s license
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Latest 3 months’ payslips or salary statements
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Bank statements (3–6 months)
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For self-employed: business registration + income proof
Tips to Save on Car Loans
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Pay a higher down payment if possible → lower principal & interest
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Choose a shorter tenure if your budget allows
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Compare multiple banks before signing with a dealer
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Keep a clean credit record to qualify for better promos
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Watch out for early settlement fees or lock-in periods
Why Our Car Loan Calculator Helps
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Clear breakdown of monthly instalment, total interest, and total repayment
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Compare different scenarios in seconds
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More flexible than single-bank calculators (works with any rate or tenure)
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Helps you plan ahead before talking to a dealer or bank officer