Total interest
RM 15,197
5.6% per year, effective rate (EIR).
Memuatkan...
Memuatkan...
Enter the car price, your deposit, the rate on your quotation and the tenure to estimate the monthly instalment, the total interest and the total you will repay. Add your salary and existing commitments to see whether the car still fits your budget.
Use it before you sit down with a salesperson or a bank. Every figure is an early estimate for general reference — not a loan approval and not an official quotation. Your salary and commitments are calculated in your browser and are never sent to DuitMap.
Prefer Bahasa Malaysia? Kalkulator Loan Kereta
Step 1
Use the on-the-road price if you already have a quotation.
A larger deposit means a smaller loan and less interest.
From 1 June 2026, new hire-purchase financing uses reducing balance with a disclosed EIR — the flat-rate method is abolished for new agreements. An industry transition period runs to 31 March 2027, so a quotation issued today may still use the older method. Pick whichever your quotation states; an existing contract stays on flat rate.
The 2026 amendment makes EIR disclosure mandatory on a quotation, so take the figure from there. An EIR is higher than a flat rate for the same cost.
A longer tenure lowers the instalment but usually raises the total cost of financing.
Loan amount (calculated)
Price − deposit − positive trade-in equity (+ fees, if financed).
Step 2 — optional
Positive equity reduces the new loan.
If this is higher than the trade-in value, that is negative equity.
For example the first year of insurance, or other one-off charges.
Step 3 — optional
Take-home pay, after statutory deductions.
Other loans, credit cards, personal financing.
For cashflow only — this does not replace an insurance renewal quote.
Your salary and commitments are calculated in this browser only. Nothing is sent to DuitMap.
Monthly instalment
RM 1,038.06 / month
7 years × 84 months. An estimate only — the actual figure depends on your bank or dealer, and this is not a loan approval.
Total interest
RM 15,197
5.6% per year, effective rate (EIR).
Total repayment
RM 87,197
Principal of RM 72,000 plus interest.
Add your net monthly salary to see the affordability check — the instalment as a share of pay, your total commitments after this loan, and whether the result reads as comfortable, tight or risky.
This is an educational estimate, not financial advice and not a guarantee of approval. The actual rate, fees, approval conditions and method of computing financing depend on your bank, your dealer and your signed documents.
Important note
This calculation is an estimate for education and early planning only. Actual results can differ according to your inputs, current policies, official documents, contracts, rates, charges and the methods used by the relevant provider. Check with the official authority or institution before making a financial decision.
A loan estimate is not a bank approval. Banks and financial institutions may use different assessment methods, rates, charges, documents and credit policies.
Reference basis
This calculator guesses no financing rate, bank fee or approval condition. Every value is entered by the reader; the engine only arranges those figures into an estimated instalment, total interest, total repayment and an affordability read against net salary. Reducing balance with EIR disclosure is the DEFAULT because the Hire Purchase (Amendment) Act 2026 made it mandatory for new agreements from 1 June 2026; flat rate is kept selectable for existing contracts and for quotations issued during the industry transition window to 31 March 2027.
Key assumptions
Instalment formulas
Reducing balance (default): the standard amortisation formula on the annual effective rate. Flat rate (legacy): total interest = loan amount x annual rate x years, divided across the months.
Loan amount
Car price minus deposit minus positive trade-in equity. Positive equity reduces the loan; negative equity is not financed automatically.
Affordability read
Instalment over net salary, and (existing commitments + instalment) over net salary. The comfortable / tight / risky bands are DuitMap's own personal-budget thresholds held in the engine, NOT a bank's DSR formula and not a forecast of approval. Malaysian lenders do not publish their internal ceilings.
Scope of the result
An early estimate for general reference only. No guarantee of bank approval, of the actual rate, or of fee accuracy. Use the official bank or dealer quotation.
Official / related sources
PIDM • Checked 8 July 2026
Attorney General's Chambers (AGC) • Checked 7 August 2026
Association of Banks in Malaysia (ABM) • Checked 8 July 2026
Attorney General's Chambers (AGC) • Checked 18 August 2026
The Hire Purchase (Amendment) Act 2026 came into force on 1 June 2026. For new agreements it abolished the flat-rate structure and the Rule of 78, and replaced them with the reducing-balance method plus mandatory disclosure of the Effective Interest Rate. Interest is charged on the principal you still owe, so the interest share of each instalment falls over the tenure.
Flat rate is still offered as a method here for two reasons. It governs every existing contract, which will run for years yet. And hire-purchase providers were given an administrative window to 31 March 2027 to migrate their systems — announced by KPDN and published by Bank Negara Malaysia, not written into the Act — so a quotation issued today may still be expressed the old way. The EIR terms-charge ceilings apply throughout that window regardless.
One thing the amendment did not do is give a borrower a one-sided right to switch an existing contract onto the new method. Under section 57A(3) of the Hire Purchase Act 1967 as amended, the hirer and the owner must agree together. Always use the method and the rate written in your own signed documents.
It depends on which method your agreement uses. From 1 June 2026, new hire-purchase agreements must use the reducing-balance method with a disclosed Effective Interest Rate (EIR) — interest is charged on the outstanding principal, which falls each month. That is this calculator's default. Agreements signed before 1 June 2026 remain on the older flat-rate method, where total interest is simply the loan amount × the annual rate × the number of years, and the instalment is the loan plus that interest divided by the number of months. You may still see a flat rate quoted during the industry system-transition window that runs to 31 March 2027.
They measure the same cost in two different ways, so the numbers are not comparable. A flat rate charges interest on the full original loan for the whole tenure, no matter how much you have already repaid. An EIR charges only on what you still owe. For the same total cost, the EIR figure is roughly double the flat one — so a 3% flat rate and a 3% EIR are very different loans. Always use the method and rate stated on your own quotation.
A longer tenure lowers the monthly instalment, which is why it is offered. What it does not lower is the total cost — you pay interest for longer, so the total is higher. It also keeps you tied to the car for longer and raises the chance that you owe more than the car is worth if you want to sell early. Run the same car at a shorter tenure in this calculator and compare the total repayment, not the monthly figure.
This calculator reports the instalment as a share of your net salary, and your total commitments after adding it, then reads the result as comfortable, tight or risky. Those bands are DuitMap’s own budgeting thresholds, not a bank’s credit policy — Malaysian lenders do not publish their internal limits. Treat the reading as a personal-budget check, not as an approval forecast.
Only if you enter them. The instalment covers financing alone. There is an optional field for estimated monthly insurance and road tax so that the affordability check reflects real cashflow, but fuel or charging, servicing, tyres, tolls and parking are not included. Those belong in a full monthly running-cost calculation.
No. Every calculation runs in your browser. Your salary, commitments and other inputs are never sent to or stored on a DuitMap server. The calculator needs no login and collects no personal data.