Car finance calculator
Work out the monthly payment for any car: choose the down payment, term and rate, and compare flat and reducing rates before you sign with a bank.
A flat rate is charged on the whole amount for the whole term. It's how banks and murabaha offers are usually quoted in the Gulf.
Estimated monthly payment
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An estimate for comparison only. The bank or finance company sets the final payment, fees, insurance and approval terms.
What's the difference between a flat and a reducing rate?
A flat rate is charged on the full amount financed every year until the last payment, while a reducing rate is charged only on what's left of the loan. So a flat rate looks lower on paper but costs more: 3% flat over 5 years is about 5.6% reducing.
How big should the down payment be?
The bigger the down payment, the less you borrow and the less finance costs. Many banks ask for at least 20%, depending on the country, the car's age and your income.
Is the payment worked out here final?
No, it's an estimate for comparison. Banks usually add fees and insurance, and set the rate and term from your profile. Ask the bank for the full repayment schedule before signing.