Maybank Auto Loan Calculator

Calculate your monthly auto loan payment based on loan amount, term, and interest rate.

Loan Amount ($) Interest Rate (%) Loan Term (years) Monthly Payment ($)

function calculateLoanPayment() { const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; const loanTerm = parseInt(document.getElementById(“loanTerm”).value) * 12; if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm el.value = “”); }

This Maybank Auto Loan Calculator helps you estimate your monthly auto loan payment based on the loan amount, interest rate, and loan term.

Loan Payment Formula

Monthly Payment = Loan Amount × (Interest Rate × (1 + Interest Rate)^Loan Term) / ((1 + Interest Rate)^Loan Term – 1)

Example Calculation

$15,000 loan, 5% interest rate, 5 years term → Monthly Payment = $283.18

Why It Matters

Understanding your monthly payment helps you manage your budget and make informed decisions about your auto loan.

Smart Strategy

Consider a shorter loan term for lower interest payments but higher monthly costs, or a longer term for lower monthly payments but more interest overall.