Car loan calculator

How the car loan calculator works

The payment follows the standard annuity model: it is the same every month, while the split between interest and principal shifts over the repayment. With a short term, total interest is noticeably lower than on long-term loans — but it still grows with every extra year.

A shorter term means a higher payment and a cheaper loan overall; a longer term a lower payment but a more expensive car in the end. Try a few terms and compare the total interest.

Example: a 25,000 KM car loan

As an example, a 25,000 KM loan at 6% per year over 5 years (60 instalments) gives a monthly payment of about 483 KM. You repay about 29,000 KM in total, of which roughly 4,000 KM is interest. The 6% rate is illustrative — take the real rate from an actual bank offer.

Down payment: how much loan you actually need

If you pay part of the car's price upfront from your own money, you only need a loan for the rest. Enter the car price minus your down payment — a smaller loan means a lower payment and less total interest. The size of the down payment is up to you, the bank and the seller.

New or used car

The same math applies to new and used vehicles — the calculation cares about the amount and the term, not the car's age. Still, some banks offer different terms or shorter maximum terms for older vehicles, so check before applying.

When the car secures the loan, banks often require full casco insurance during repayment. Its cost is not part of the payment shown here — budget for it separately, and enter any one-time loan costs in the dedicated field.