Car Loan Calculator (2026)
Calculate monthly car loan repayments based on Singapore's 70% LTV and 7-year tenure limits.
What is a Car Loan Calculator?
A car loan calculator estimates your monthly repayments based on the loan amount, interest rate, and tenure. In Singapore, car loans are regulated by MAS with a maximum LTV of 70% (for OMV up to $20,000) or 60% (for OMV above $20,000) and a maximum tenure of 7 years.
infoMax 7 years tenure, 70% LTV (MAS regulation)
Enter your car price and loan details to see monthly payments
Downpayment
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Total Interest
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Total Repaid
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Quick Reference
- • Max LTV: 70% for OMV up to $20,000, 60% for OMV above $20,000
- • Max loan tenure: 7 years (84 months)
- • Typical flat interest rates: 2.48% – 3.28% p.a. for new cars
- • Flat rate of 2.78% is roughly equivalent to 5.2% effective rate
How Car Loans Work in Singapore
Car loans in Singapore are regulated by the Monetary Authority of Singapore (MAS). The maximum Loan-to-Value (LTV) ratio is capped at 70% for vehicles with an OMV up to $20,000, meaning you must put down at least 30% of the purchase price as a down payment.
The maximum loan tenure is 7 years (84 months). Most Singapore car loans use a flat interest rate structure, with typical rates around 2.48% to 3.28% per annum. A flat rate of 2.78% is roughly equivalent to an effective interest rate of about 5.2%.
When calculating your car loan, remember to factor in the total purchase price including COE, ARF, registration fees, and dealer markup — not just the car's list price. The loan amount is based on the full purchase price with COE. Use our COE Calculator to estimate registration costs, and the Total Ownership Cost Calculator to see the true all-in monthly cost.
LTV Cap
70% max loan for OMV up to $20,000
Minimum 30% down payment required
Max Tenure
Maximum 7 years (84 months)
5 years is the most common choice
Interest Rates
Typical flat rates: 2.48% to 3.28% p.a.
Flat rate ~2.78% = ~5.2% effective rate
Frequently Asked Questions
What is the maximum LTV for a car loan in Singapore?expand_more
The Monetary Authority of Singapore (MAS) caps car loans at 70% Loan-to-Value (LTV) for vehicles with an Open Market Value (OMV) up to $20,000, and 60% LTV for vehicles with OMV above $20,000. This means you need at least a 30-40% down payment to purchase a car in Singapore.
What are typical car loan interest rates in Singapore?expand_more
As of 2026, typical car loan interest rates in Singapore range from 2.48% to 3.28% per annum for new cars. Rates vary depending on the bank, loan tenure, and your credit profile. Used car loans generally have slightly higher rates. Most Singapore car loans use a flat interest rate rather than a reducing balance rate.
What is the maximum car loan tenure in Singapore?expand_more
MAS limits the maximum car loan tenure to 7 years (84 months) in Singapore. Shorter tenures mean higher monthly payments but significantly lower total interest paid. A 5-year tenure is the most common choice, balancing affordability with total cost.
Can I refinance my car loan in Singapore?expand_more
Yes, you can refinance your car loan in Singapore to potentially get a lower interest rate. However, some banks charge early repayment penalties, typically around 1-2% of the outstanding loan amount. Compare the savings from a lower rate against any penalties before refinancing.
Sources
- • Monetary Authority of Singapore (mas.gov.sg) — Vehicle loan LTV limits and maximum tenure regulations
- • Land Transport Authority (lta.gov.sg) — Vehicle registration and OMV classification