Car Loan Calculator Malaysia – Free Online Vehicle Finance Calculator with Formula, Extra Payments, and Amortization Schedule
Our Car Loan Calculator Malaysia is a comprehensive, free online tool that helps you calculate monthly car loan payments, total interest costs, and repayment schedules for vehicle financing in Malaysia. Whether you're buying a new Perodua, Proton, Honda, Toyota, Mazda, or any other car brand in Malaysia, this calculator provides accurate estimates based on the car loan calculator Malaysia formula. It's an essential tool for anyone considering car finance from Malaysia lenders like Maybank, Public Bank, RHB, Hong Leong Bank, CIMB, Bank Islam, or other Malaysia financial institutions.
This comprehensive calculator includes features for extra payments, detailed amortization schedules, and uses the standard car loan calculator Malaysia formula to calculate your monthly payments. With support for loan terms from 24 to 96 months, you can explore different financing scenarios and find the best option for your budget. Whether you're using this calculator on calculator.com.my, Carlist, or any other platform, this tool helps you make informed decisions about your car loan in Malaysia for 2025 and beyond.
How the Car Loan Calculator Malaysia Formula Works
The car loan calculator Malaysia uses the standard amortization formula to calculate your monthly payments:
Monthly Payment = Loan Amount × [r(1+r)^n] / [(1+r)^n - 1]
Where: r = monthly interest rate (APR/12), n = number of months
- • Vehicle Price: Enter the purchase price of your car (before or including SST)
- • 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
- • SST: Optionally include Malaysia's Sales and Service Tax
Key Features
- ✓Car Loan Calculator Malaysia Formula – Uses the standard amortization formula to calculate accurate monthly payments
- ✓Car Loan Calculator Malaysia 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 Malaysia Amortization – View a detailed month-by-month breakdown of your loan payments
- ✓Car Loan Calculator Malaysia 2025 – Updated for 2025 with current Malaysia car loan rates and terms
- ✓Support for Malaysia Car Brands – Perfect for calculating loans for Perodua, Proton, Honda, Toyota, Mazda, and other brands
- ✓Malaysia Bank Integration – Compare rates from Maybank, Public Bank, RHB, Hong Leong Bank, CIMB, Bank Islam, and more
Malaysia Car Loan Rates
Car loan interest rates in Malaysia vary based on several factors including your credit score, loan amount, loan term, and the lender. Major Malaysia banks typically offer rates between 3.5% and 7.0% APR, with rates generally lower for borrowers with excellent credit scores and shorter loan terms.
| Credit Score | Typical APR Range | Notes |
|---|---|---|
| Excellent (750+) | 3.5% – 4.5% | Best rates available, may qualify for promotional rates |
| Good (700-749) | 4.5% – 5.5% | Competitive rates from most lenders |
| Fair (640-699) | 5.5% – 6.5% | Higher rates, may require larger down payment |
| Poor (<640) | 7.0% – 9.0% | Highest rates, limited lender options |
Car Loan Calculator Malaysia 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 Malaysia 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 RM80,000 loan at 4.5% APR over 60 months, making an extra RM200 per month could save you over RM2,000 in interest and pay off your loan 8 months early.
Car Loan Calculator Malaysia 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 Malaysia amortization feature displays the complete schedule with all monthly payments, making it easy to track your loan progress.
Major Malaysia Car Loan Lenders
When shopping for a car loan in Malaysia, you'll find options from major banks and financial institutions:
- ✓Maybank – One of Malaysia's largest banks offering competitive car loan rates for Perodua, Proton, Honda, Toyota, Mazda, and other brands
- ✓Public Bank – Provides flexible car finance options with competitive rates and various loan terms
- ✓RHB – Offers car loans with various term options and competitive rates for Malaysia car buyers
- ✓Hong Leong Bank – Provides car finance solutions for new and used vehicles with attractive rates
- ✓CIMB – Offers competitive car loan rates and flexible terms for Malaysia residents
- ✓Bank Islam – Provides Shariah-compliant car financing options for Malaysia car buyers
Popular Malaysia Car Brands
Our car loan calculator Malaysia works perfectly for all car brands available in Malaysia:
- ✓Perodua – Malaysia's largest car manufacturer, popular models include Myvi, Axia, Bezza, and Aruz
- ✓Proton – Malaysia's national car brand, popular models include Saga, Persona, Iriz, and X70
- ✓Honda – Popular models include City, Civic, HR-V, CR-V, and Accord
- ✓Toyota – Popular models include Vios, Camry, Corolla Cross, and Hilux
- ✓Mazda – Popular models include Mazda 2, Mazda 3, CX-3, CX-5, and CX-8
FAQ: Car Loan Calculator Malaysia
Q: How do I calculate my car loan payment using the car loan calculator Malaysia formula?
A: Use our car loan calculator Malaysia by entering your vehicle price, down payment, trade-in value (if applicable), interest rate, and loan term. The calculator uses the standard amortization formula to automatically compute your monthly payment, total interest, and repayment schedule.
Q: What is the car loan calculator Malaysia formula?
A: The car loan calculator Malaysia formula is: Monthly Payment = Loan Amount × [r(1+r)^n] / [(1+r)^n - 1], where r is the monthly interest rate (APR/12) and n is the number of months. This formula calculates your fixed monthly payment over the loan term.
Q: How much can I save with extra payments using the car loan calculator Malaysia?
A: Extra payments can save you hundreds or thousands of ringgit in interest, depending on your loan amount and interest rate. Use the car loan calculator Malaysia with extra payments feature to see exactly how much you can save.
Q: Which Malaysia banks offer the best car loan rates?
A: Rates vary by lender and your credit profile. Major banks like Maybank, Public Bank, RHB, Hong Leong Bank, CIMB, and Bank Islam typically offer competitive rates. Use our calculator to compare different scenarios and find the best option for your situation.
Q: Can I use this calculator for Perodua, Proton, Honda, Toyota, or Mazda car loans?
A: Yes! Our car loan calculator Malaysia works for all car brands available in Malaysia, including Perodua, Proton, Honda, Toyota, Mazda, and any other brand. Simply enter the vehicle price and loan details to calculate your monthly payments.
Conclusion
Our Car Loan Calculator Malaysia is an essential tool for anyone considering vehicle financing in Malaysia. Whether you're buying a new or used car from Perodua, Proton, Honda, Toyota, Mazda, or any other brand, exploring extra payments, or comparing loan offers from Maybank, Public Bank, RHB, Hong Leong Bank, CIMB, Bank Islam, or other Malaysia lenders, this calculator helps you understand your loan costs and make informed financial decisions. With support for the standard car loan calculator Malaysia formula, extra payments, detailed amortization schedules, and 2025 updates, you have all the tools you need to plan your car purchase effectively.
Always compare offers from multiple Malaysia lenders, 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 can make monthly payments more affordable, they also increase the total interest you'll pay over the life of the loan. Use this calculator on calculator.com.my, Carlist, or any other platform to make informed decisions about your car loan in Malaysia.