Car Loan Calculator Singapore – Free Online Vehicle Finance Calculator with Extra Payments, Trade-in, GST, Credit Score, Refinance, and Amortization Schedule
Our Car Loan Calculator Singapore is a comprehensive, free online tool that helps you calculate monthly car loan payments, total interest costs, and repayment schedules for vehicle financing in Singapore. Whether you're buying a new or used car, this calculator provides accurate estimates based on your loan amount, interest rate, and term length. It's an essential tool for anyone considering car finance from Singapore lenders like DBS, OCBC, UOB, or other Singapore financial institutions.
This comprehensive calculator includes features for extra payments, refinancing options, trade-in values, GST calculations, credit score estimates, and detailed amortization schedules. With support for loan terms from 24 to 96 months (including 84 months and 96 months options), you can explore different financing scenarios and find the best option for your budget. Whether you're in Singapore, this tool helps you make informed decisions about your car loan.
How the Car Loan Calculator Singapore Works
The calculator uses standard loan amortization formulas to calculate your monthly payments:
- • Vehicle Price: Enter the purchase price of your car (before or including GST)
- • Down Payment: Specify your down payment as a fixed amount or percentage
- • Trade-in Value: Include the value of your current vehicle if trading it in
- • Interest Rate (APR): Enter your annual percentage rate, or use credit score estimates
- • Loan Term: Choose from 24, 36, 48, 60, 72, 84, or 96 months
- • GST: Optionally include Singapore's 7% Goods and Services Tax
Key Features
- ✓Car Loan Calculator with Extra Payments – See how making additional monthly payments or lump sum payments can reduce your interest costs and shorten your loan term
- ✓Car Loan Calculator Refinance – Compare your current loan with a new loan offer to see potential savings
- ✓Car Loan Calculator with Trade-in – Factor in the value of your current vehicle to reduce your loan amount
- ✓Car Loan Calculator with Tax – Include Singapore's 7% GST in your loan calculations
- ✓Car Loan Calculator with Credit Score – Get estimated interest rates based on your credit score range
- ✓Car Loan Calculator Amortization – View a detailed month-by-month breakdown of your loan payments
- ✓Car Loan Calculator 84 Months – Explore 84-month (7-year) loan terms for lower monthly payments
- ✓Car Loan Calculator 96 Months – Explore 96-month (8-year) loan terms for even lower monthly payments
- ✓Car Loan Calculator Payment – Calculate your exact monthly payment amount
- ✓Car Loan Calculator with Interest Rate – Enter custom interest rates or use credit score estimates
Singapore Car Loan Rates
Car loan interest rates in Singapore vary based on several factors including your credit score, loan amount, loan term, and the lender. Major Singapore banks typically offer rates between 5.5% and 13% APR, with rates generally lower for borrowers with excellent credit scores and shorter loan terms.
| Credit Score | Typical APR Range | Notes |
|---|---|---|
| Excellent (750+) | 6.0% – 8.0% | Best rates available, may qualify for promotional rates |
| Good (700-749) | 7.5% – 9.5% | Competitive rates from most lenders |
| Fair (640-699) | 10.0% – 12.5% | Higher rates, may require larger down payment |
| Poor (<640) | 14.0% – 18.0% | Highest rates, limited lender options |
Car Loan Calculator with Extra Payments
Making extra payments on your car loan can significantly reduce the total interest you pay and shorten your loan term. Our car loan calculator with extra payments shows you exactly how much you can save by making additional monthly payments or lump sum payments. For example, if you have a $30,000 loan at 8.5% APR over 60 months, making an extra $100 per month could save you over $1,500 in interest and pay off your loan 8 months early.
Car Loan Calculator Refinance
If you're currently paying a high interest rate on your car loan, refinancing could save you money. Use the car loan calculator refinance feature to compare your current loan terms with a new offer. Lower interest rates or longer terms can reduce your monthly payment, while shorter terms can help you pay off your loan faster and save on interest.
Car Loan Calculator with Trade-in
Trading in your current vehicle can significantly reduce your loan amount. Our car loan calculator with trade-in allows you to factor in the value of your existing vehicle, showing how it affects your monthly payments and total interest costs. This helps you understand the true cost of upgrading to a new vehicle.
Car Loan Calculator with Tax (GST)
In Singapore, most new vehicles are subject to a 7% Goods and Services Tax (GST). When purchasing a car, GST is typically included in the advertised price, but it's important to factor this into your loan calculations. Our car loan calculator with tax allows you to include GST in your loan amount, ensuring accurate payment estimates.
Car Loan Calculator with Credit Score
Your credit score significantly impacts the interest rate you'll receive on your car loan. Our car loan calculator with credit score provides estimated interest rates based on your credit score range, helping you understand how your creditworthiness affects your loan costs. This feature helps you plan your car purchase and potentially improve your credit score before applying.
Loan Terms: 84 Months vs 96 Months
Longer loan terms like 84 months (7 years) or 96 months (8 years) can make monthly payments more affordable, but they also mean paying more interest over the life of the loan. While these extended terms can help you afford a more expensive vehicle, it's important to consider that your car may depreciate faster than you're paying it off, potentially leaving you with negative equity. Our car loan calculator 84 months and car loan calculator 96 months features help you explore these longer-term options.
Car Loan Calculator Amortization Schedule
The amortization schedule provides a detailed month-by-month breakdown of your loan payments, showing how much goes toward principal and interest each month. This helps you understand how your loan balance decreases over time and how extra payments affect your payoff timeline. Our car loan calculator amortization feature displays the complete schedule with all monthly payments.
Major Singapore Car Loan Lenders
When shopping for a car loan in Singapore, you'll find options from major banks and financial institutions:
- ✓DBS – One of Singapore's largest banks offering competitive car loan rates
- ✓OCBC – Provides flexible car finance options with competitive rates
- ✓UOB – Offers car loans with various term options and competitive rates
- ✓Maybank – Provides car finance solutions for new and used vehicles
- ✓Standard Chartered – Offers competitive car loan rates and flexible terms
FAQ: Car Loan Calculator Singapore
Q: How do I calculate my car loan payment?
A: Use our car loan calculator Singapore by entering your vehicle price, down payment, trade-in value (if applicable), interest rate, and loan term. The calculator will automatically compute your monthly payment, total interest, and repayment schedule.
Q: Should I include GST in my car loan?
A: Yes, if you're purchasing a new vehicle, GST is typically included in the purchase price. Use the "Include GST" option in the car loan calculator with tax to factor this into your loan amount for accurate payment estimates.
Q: How much can I save with extra payments?
A: Extra payments can save you hundreds or thousands of dollars in interest, depending on your loan amount and interest rate. Use the car loan calculator with extra payments feature to see exactly how much you can save.
Q: Is it better to refinance my car loan?
A: Refinancing can be beneficial if you can secure a lower interest rate or better terms. Use the car loan calculator refinance feature to compare your current loan with potential new offers and see if refinancing makes financial sense.
Q: What credit score do I need for a car loan in Singapore?
A: While requirements vary by lender, a credit score of 700 or higher typically qualifies for competitive rates. Scores below 640 may face higher interest rates or require larger down payments. Use the car loan calculator with credit score feature to estimate rates based on your score range.
Conclusion
Our Car Loan Calculator Singapore is an essential tool for anyone considering vehicle financing in Singapore. Whether you're buying a new or used car, exploring refinancing options, planning to make extra payments, or comparing trade-in values, this calculator helps you understand your loan costs and make informed financial decisions. With support for GST calculations, credit score estimates, trade-in values, extra payments, refinancing, and detailed amortization schedules, you have all the tools you need to plan your car purchase effectively.
Always compare offers from multiple Singapore lenders including DBS, OCBC, UOB, and others, read the terms and conditions carefully, and consider consulting with a licensed financial adviser before committing to a car loan. Remember that while longer loan terms (84 months or 96 months) can make monthly payments more affordable, they also increase the total interest you'll pay over the life of the loan.