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Car Loan Calculator

Monthly amortization, down payment and what the car really costs.

Your numbers

Sample numbers are filled in. Tap a box and type yours.

Banks usually ask for 20% or more
From the bank’s quote, per year
Insurance, chattel mortgage and processing fees paid upfront

Results update as you type. Calculate takes you to your result.

Car loan

Monthly payment₱21,600.00For 60 months, after a ₱240,000.00 down payment.

Down payment
₱240,000.00
Amount financed
₱960,000.00
Monthly payment
₱21,600.00
Total interest
₱336,000.00
Cash out on release
₱270,000.00
Total cost of the car
₱1,566,000.00
Effective rate per year
12.5%

An estimate from the numbers you enter. How it’s computed · Change your numbers

Monthly payment₱21,600.00

How to use this calculator

  1. Enter the car price, your down payment, and the term.
  2. Pick how the bank quotes its rate and enter it, plus insurance and fees paid upfront.

How it’s computed

Amount financed = price − down payment.

Add-on: total interest = amount financed × yearly rate × years. Monthly = (amount financed + interest) ÷ months.

Diminishing balance: the standard amortization formula, with interest only on the remaining balance.

Example

A ₱1,200,000.00 car, 20% down, 60 months at 7% add-on:

  • Down payment ₱240,000.00; amount financed ₱960,000.00.
  • Interest: ₱960,000.00 × 7% × 5 = ₱336,000.00.
  • Monthly: ₱21,600.00. The effective rate is about 12.5% a year.

Frequently asked questions

What is an add-on rate?

Many Philippine auto loans charge interest on the full amount financed for the whole term, even as you pay it down. That makes the effective rate close to double the quoted add-on rate, which this calculator shows.

How much down payment do I need?

Banks usually ask for 20% or more. A bigger down payment lowers the monthly amortization and the total interest.

What goes in upfront fees?

Chattel mortgage registration, first-year comprehensive insurance, and processing fees. Dealers sometimes include these in “all-in” down payment promos; ask what is covered.

Are these rates current?

Sample rates only. Ask your bank or Pag-IBIG for the rate on your term; rates change and depend on your credit profile.

This calculator provides estimates for informational purposes only. Actual payroll, taxes, contributions, loan charges, and utility costs may vary depending on your employer, provider, government rules, or specific circumstances.

You may also need

Read the guide