Calculator
Car Loan Calculator Malaysia
Calculate your monthly car loan installment. Compare interest rates from major banks. Estimate total interest and repayment for any car price and tenure.
Loan Details
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1 yr3 yrs5 yrs7 yrs9 yrs
Interest rate is indicative. Actual rate depends on your credit profile, loan amount, and tenure.
Your Loan Summary
Enter your loan details to see the monthly installment and total payment.
Bank Rates
Car Loan Interest Rates by Bank
Current indicative hire purchase rates in Malaysia. Actual rates depend on loan amount, tenure, and your credit profile.
Maybank
3%
p.a. flat rate
CIMB
3.1%
p.a. flat rate
Public Bank
2.95%
p.a. flat rate
RHB
3.05%
p.a. flat rate
Hong Leong
3%
p.a. flat rate
AmBank
3.15%
p.a. flat rate
Bank Rakyat
2.85%
p.a. flat rate
Affin Bank
3.2%
p.a. flat rate
Alliance Bank
3.1%
p.a. flat rate
Bank Islam
3%
p.a. flat rate
MBSB
3.5%
p.a. flat rate
AEON Credit
4%
p.a. flat rate
Popular Car Loan Examples
Monthly installment estimates at 3% interest with 20% down payment over 7 years. Click a model to calculate.
| Car Model | Price | Down Payment | Loan | Monthly (7 yrs) |
|---|---|---|---|---|
| Perodua Myvi 1.5 AV | RM 55,800 | RM 11,160 | RM 44,640 | RM 643/mo |
| Perodua Axia 1.0 AV | RM 40,400 | RM 8,080 | RM 32,320 | RM 466/mo |
| Toyota Vios 1.5 G | RM 89,600 | RM 17,920 | RM 71,680 | RM 1,033/mo |
| Honda City 1.5 V | RM 86,800 | RM 17,360 | RM 69,440 | RM 1,000/mo |
| Proton X50 1.5T Flagship | RM 103,300 | RM 20,660 | RM 82,640 | RM 1,190/mo |
| Proton Persona 1.6 Premium | RM 54,900 | RM 10,980 | RM 43,920 | RM 633/mo |
| Toyota Hilux 2.4 V | RM 133,900 | RM 26,780 | RM 107,120 | RM 1,543/mo |
| Honda HR-V 1.5 V | RM 114,800 | RM 22,960 | RM 91,840 | RM 1,323/mo |
| Mazda CX-5 2.0 | RM 144,000 | RM 28,800 | RM 115,200 | RM 1,659/mo |
| Toyota Corolla Cross 1.8 | RM 136,000 | RM 27,200 | RM 108,800 | RM 1,567/mo |
FAQ
Car Loan Frequently Asked Questions
What is flat rate vs effective rate?
Malaysian car loans use flat rate interest. Flat rate means interest is calculated on the original loan amount regardless of repayment. A 3% flat rate is roughly equivalent to 5.6% effective rate. The effective rate reflects the true cost of borrowing since you pay interest on money you've already repaid.
Can I get a car loan with bad credit?
Some banks and credit companies offer loans to borrowers with lower credit scores, but at higher interest rates (4-6%). You may need a guarantor or higher down payment. AEON Credit and MBSB are known for offering loans to a wider range of credit profiles.
What is the difference between hire purchase and personal loan?
Hire purchase is specifically for vehicles — the car serves as collateral and ownership transfers after full repayment. Personal loans are unsecured with higher interest rates (5-10%). For car purchases, hire purchase is almost always cheaper.
Can I refinance my car loan?
Yes, you can refinance if you find a better rate. However, early settlement penalties may apply. Calculate whether the interest savings outweigh the settlement costs before refinancing.
Got Your Loan Figured Out? Now Calculate Insurance
Every financed car in Malaysia requires comprehensive insurance. Use our calculator to estimate your annual premium.