Editable planning tool

Car loan estimate

Change the illustrative values. Nothing you enter is sent or stored; measurement records only the tool name and formula version.

Method boundary: Legacy flat-rate illustration only. It does not determine which calculation method applies to a current or proposed hire-purchase agreement. Check the current provider disclosure and agreement; Malaysian legal review of the 2026 transition remains pending.

Results will appear here after calculation.

Formula and assumptions

Formula ID: flat-rate-hire-purchase@1.1.0

Calculations use unrounded intermediate values. Ringgit and percentage outputs are rounded to two decimal places; break-even months are rounded up. A displayed monthly amount multiplied by tenure may therefore differ slightly from the displayed total.

  • Interest is calculated on the original financed amount for the full tenure.
  • Deposit is subtracted before interest is calculated.
  • Fees, rebates, insurance and agreement-specific rounding are excluded.
  • Inputs support tenures up to 600 months, annual rates up to 100%, and ringgit amounts to sen precision.
  • Displayed values are rounded only after unrounded calculations are complete.

Answer first

Check the arithmetic in an older flat-rate hire-purchase quotation from vehicle price, deposit, annual flat rate and tenure. It does not model a new reducing-balance facility.

How to decide

For a quotation that explicitly uses the legacy flat method, principal equals price minus deposit; flat interest equals principal × annual flat rate × years; and total repayment equals principal plus flat interest.

A practical process

First confirm the method in the provider's current disclosure. Use this tool only if the document itself states a flat rate; reject deposits above price and non-positive terms; show principal, interest, total and monthly amount separately.

Limits and next step

Maybank states that it adopted reducing-balance hire purchase from 1 August 2026. This tool is not a current provider quotation and must not be used for a reducing-balance agreement. Check the linked primary source and its captured date before making a commitment.

Malaysian worked example

Show the working

Inputs

  • legacy quotation price RM80,000
  • deposit RM8,000
  • flat rate 3%
  • 84 months

Calculation

  1. principal = RM72,000
  2. legacy flat interest = RM15,120
  3. legacy total = RM87,120
  4. monthly = RM1,037.14

Illustrative resultThe legacy quotation arithmetic gives RM1,037.14 monthly and RM15,120 interest.

Maybank states that it adopted reducing-balance hire purchase from 1 August 2026. This tool is not a current provider quotation and must not be used for a reducing-balance agreement.

Sources

AI disclosure: This content is generated by automated systems. Automated checks validate required fields and run selected content and calculation tests; they do not independently verify every claim or source. No individual human reviewed this version unless explicitly stated. Loan Malaysia's operator is accountable for publication, corrections and system oversight. Not licensed for individual financial advice.AI methodology and risk boundaries · Submit a correction