Car Loan Calculator (Singapore — Flat Rate)
Singapore car-loan instalment from a flat-rate quote with MAS LTV caps (60/70%), COE context and effective-rate conversion.
Formula
Disclaimer: Indicative math for comparison only. Actual instalments vary with lender rounding, fees, insurance, daily vs monthly reducing methods and rate resets. This is not financial advice — confirm the final schedule with your lender.
Disclaimer: This tool is for general informational and estimation purposes only and is not professional financial, tax, accounting or legal advice. All figures are estimates — verify with a qualified professional before making decisions. Read the full disclaimer.
Need car loan calculator (singapore results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Car Loan Calculator (Singapore — Flat Rate)
Singapore car loans are quoted flat — e.g. '2.78% per annum' computed on the original principal for all 5 years — and capped by MAS rules: maximum 70% financing when the open-market value is ≤ S$20,000 and 60% above that, with loan tenure capped at 7 years. With cars costing what they do here (COE included), the default S$70,000 loan on a ~S$120k car is a realistic scenario. The flat quote hides the true cost: this calculator converts it to the effective reducing-balance rate (≈ flat × 2n/(n+1)), which lands near 5.2% for the defaults — compare that honestly against a renovation loan, balance transfer or CPF-opportunity-cost arguments before deciding how much to borrow versus pay down. Because the loan covers car + COE as one bundle, end-of-life math matters: if you deregister early, the PARF/COE rebate goes first to the financier while your flat-rate interest was front-loaded by construction. Settling early triggers a rule-of-78-style rebate at many lenders — ask for the settlement quote rather than assuming linear savings.
How to use Car Loan Calculator (Singapore — Flat Rate)
- 1Enter Loan amount, Flat (add-on) rate per year (%), Tenure (years) into the Car Loan Calculator (Singapore.
- 2The result is computed automatically using Payment = (P + P · flat rate · years) ÷ n — interest is charged on the ORIGINAL principal — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Car Loan Calculator (Singapore — Flat Rate)?
- ✓Computes car loan calculator (singapore instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
How much can I borrow for a car in Singapore?+
MAS caps it by open-market value (OMV): 70% of the purchase price if OMV ≤ S$20,000, 60% if above, and a maximum 7-year tenure. The rest is strictly cash (CPF cannot be used for vehicles). Dealers' 'in-house 90% loans' that skirt these caps come with steep effective rates — read carefully.
What does 2.78% flat really cost me?+
On S$70,000 over 5 years it's S$9,730 of total interest — and because the principal falls while interest doesn't, the effective reducing-balance rate is about 5.2% p.a. That's the number to compare with any loan quoted the normal (reducing) way.
Does the COE rebate go to me or the bank if I scrap early?+
While the loan runs, the financier holds rights over deregistration rebates (PARF/COE) and applies them to your outstanding settlement first; any excess returns to you. Factor that in before early deregistration — your equity in the rebate may be smaller than the paper value suggests.
Used or new car loan — different rules?+
The same MAS LTV/tenure caps apply, but used-car flat rates are usually a touch higher and the financeable amount keys off the lower of price or valuation. For older COE cars the remaining COE life effectively caps the sensible tenure — lenders seldom lend past it.
Related Finance tools
Human Life Value (HLV) Calculator
The economic value of your future earnings to your family — the income-replacement basis for sizing a life-insurance cover.
● LiveTerm Life Insurance Coverage Calculator
How much term-life cover you actually need — replacing income, clearing debts and funding goals, net of existing assets and cover.
● LiveDIME Method Life Insurance Calculator
The DIME formula — Debt + Income + Mortgage + Education — a fast, complete way to size a life-insurance cover.
● Live