Car loan settlement calculator estimates your total amount payable and savings for early repayment on your vehicle bought through hire purchase.
Car Loan Settlement Calculator Tips
Aka car loan redemption calculator.
A car loan settlement calculator helps you to calculate the amount you will need to pay to settle your remaining car loan fully.
Understand the types of car loan hire purchase calculations in Malaysia.
You must settle the car loan in full meaning you cannot do a partial settlement for your car.
Remaining Loan Duration is total loan years less years paid.
- If you have paid 2 years of a 5 year loan, you have 3 years remaining.
- If you have 18 months remaining, input 1.5 years.
- If you have 23 months remaining, input 23/12 = 1.9167.
Car loan settlement calculator is unique for Malaysia’s calculation and may differ from other car loan settlement calculators.
Total Repayment ($) is the car loan amount if you were to pay monthly until the car loan is fully settled.
Total Repayment Paid ($) is the car loan amount you have paid so far until the current period where you are looking to fully settle outstanding loan immediately.
Settlement (Redemption) amount is the amount you need to pay after deducting the rebate to fully settle your outstanding car loan.