This motorcycle loan calculator helps you understand how different loan amounts, interest rates, and terms affect your monthly payments and total loan cost in the Philippines.

Motorcycle Loan Formula

Monthly Payment = (Loan Amount × Monthly Interest Rate) / (1 – (1 + Monthly Interest Rate) ^ -Number of Payments)
Total Loan Cost = Monthly Payment × Number of Payments

Example Calculation

₱100,000 loan, 10% interest rate, 3-year term → Monthly Payment = ₱3,221.24, Total Loan Cost = ₱115,958.70.

Why It Matters

Choosing the right loan amount and term helps balance your monthly affordability with your long-term financial goals.

Smart Strategy

Consider a shorter loan term to save on interest or a longer term to reduce monthly payments, depending on your budget.

FAQs

What loan term is best? A shorter term saves on interest but increases monthly payments. Choose a term that fits your budget.

Does a higher interest rate increase my payments? Yes, a higher interest rate means higher monthly payments and a higher total cost.

Can I pay off my loan early? Most loans allow early repayment without penalty. Check with your lender.