What can your budget really drive?

This calculator gives a quick ESTIMATE using the familiar flat-style quote (interest = loan × rate × years) that dealers and banks still use in conversation. Our default is 3.3%/yr over 9 years with 10% deposit — adjust all three to match your bank's quote, and always confirm the final figure on the bank's own letter of offer.

From 1 June 2026, NEW hire-purchase loans no longer use the old flat-rate / Rule-of-78 method — banks must charge on a reducing balance and disclose the Effective Interest Rate (EIR). In practice: settling early now genuinely saves interest, your statements show the real rate, and HP agreements can be signed digitally. Loans signed before 1 June keep their original terms, though banks have agreed goodwill discounts for early settlement. Always compare the EIR, not the headline rate.

New cars finance up to 90% (10% deposit). Used and recon cars typically finance 70–85% depending on age and condition — so budget a 15–30% deposit. Set the deposit slider here to match what your bank offers.

Typically 10% for used/recon (banks finance up to 90%). Some banks ask more for older cars or longer tenures — we pre-check your case across several banks before you commit.

Yes — we submit to multiple banks, know each bank's appetite for recon models and years, and structure the application properly. Approval assistance is part of the service, no charge.

Lower monthly, more total interest. 9 years is common for keeping monthlies comfortable; if you can afford 7 years the interest saving is meaningful. The calculator shows both instantly.