Car Loan Calculator Singapore
Free, instant, and works for new cars, used cars and COE renewal loans. Enter your details below to estimate your monthly instalment.
Enter the details below to estimate your monthly car loan instalment.
Estimated Monthly Instalment
— — —SGD
Fill in the details and press Calculate to see your estimated monthly instalment.
HOW IT WORKS
How to Use This Calculator
Enter your loan amount
The amount you want to finance
Enter your interest rate
The flat rate p.a. you’ve been quoted, or one you’d like to compare
Enter your loan tenure in months
For example, 60 months for a 5-year loan
Hit Calculate
See your estimated monthly instalment, total interest and total payable
How Car Loan Instalments Are Calculated in Singapore
Flat Rate vs. Effective Interest Rate
Car loan rates in Singapore are usually quoted as a “flat rate,” calculated on the original loan amount for the full tenure. Because your balance reduces every month, the true cost of borrowing — the effective interest rate — is actually higher than the flat rate suggests. This calculator uses the flat rate method, matching how most lenders in Singapore quote their rates.
What Affects Your Monthly Instalment
Your instalment depends on three things: how much you borrow, your interest rate, and your loan tenure. A longer tenure lowers your monthly instalment but increases the total interest you’ll pay.
New Car vs. Used Car vs. COE Renewal — What’s Different?
The same calculator works for all three, but what you enter as your loan amount differs. A new or used car loan is based on the vehicle’s purchase price (or the portion you’re financing). A COE renewal loan works differently — it’s based on your COE premium (the Prevailing Quota Premium, or PQP) rather than a purchase price, since you’re financing the renewal, not a new vehicle. Simply enter whichever figure applies to your situation.
New / Used Car Loan
Based on the purchase price
COE Renewal Loan
Based on your COE premium (PQP)
Current Car Loan Interest Rates in Singapore
Rates currently range from around 1.28% ~ 5.68% p.a., depending on whether you’re financing a new car, a used car, or a COE renewal. See our full used car loan interest rate guide for a detailed breakdown.
1.28% ~ 5.68%
per annumFrequently Asked Questions
Yes, completely free, with no signup required.
Your estimate is based on the figures you enter. Your final rate and instalment will be confirmed once we review your application.
Yes — simply enter the loan amount, rate and tenure that apply to your situation, whether that’s a new car, used car or COE renewal.
This estimate covers principal and interest only. Any additional fees depend on which financier you’re matched with, so these are reviewed on a case-by-case basis.
This calculator uses the flat rate method, which is how most lenders in Singapore quote rates — see the explanation above for how that compares to the effective rate you actually pay.
Yes — it’s free to use with no obligation and no application required.
No — this calculator is purely for projecting and estimating your loan amount and instalment. We don’t store any of the information you enter.
Calculators can differ based on whether they use a flat or effective rate, how they round, or whether fees are included — ours uses the flat rate method with no hidden fees unless stated.
Yes — enter your outstanding loan amount as the principal to estimate a refinanced instalment, or visit our refinancing page for a dedicated breakdown.
Enter any tenure in months — commonly up to 7 years (84 months) for new or used car loans, or 5–10 years (60–120 months) for COE renewal loans.
