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  3. /Guide to Car Loan Calculations in Malaysia

Guide to Car Loan Calculations in Malaysia

Most car loans in Malaysia use a flat interest rate. This means interest is calculated on the original loan amount for the entire tenure.

Flat Interest Formula

  • Loan amount = Car price - Down payment - Trade-in value
  • Total interest = Loan amount x Annual flat rate x Tenure (years)
  • Total repayment = Loan amount + Total interest
  • Monthly payment = Total repayment / (Tenure x 12)

Example

Car price RM100,000, down payment RM10,000, flat rate 3.2%, 7 years. Loan amount = RM90,000. Total interest = RM20,160. Monthly payment = RM1,311.43.

Related Calculators

Car Loan Calculator Malaysia→Monthly Car Ownership Calculator Malaysia→

This guide is for informational purposes only. KiraSmart is not financial, tax, or professional advice. Please verify with official sources.

Last reviewed: 2026-07-17