Car Loan & Amortization Calculator

Compute your monthly payment, total interest, and see why Bank Financing beats Dealer In-House Financing.

Car Loan Details

Vehicle Purchase Price (PHP)₱1,200,000.00

Down Payment (%) (20%)₱240,000.00

Annual Interest Rate (%)9.5%

Typical bank rates are 8-10%, while in-house is 15-20%!

Loan Term (Years)

💰 Bank Financing Savings

By getting a car loan from a commercial bank (at 9.5%) instead of dealer in-house financing (usually ~16.5%), you will save:

Total Savings

₱206,361.20

Monthly Difference

- ₱3,439.35/mo

Loan Amortization Summary

Required Loan Amount₱960,000.00

Total Interest Charged₱249,707.21

Total Payments Over Term₱1,209,707.21

Monthly Amortization₱20,161.79

💡 Bank vs. In-House Financing Explainer

Bank financing is almost ALWAYS cheaper. Dealerships often lure you in with 'low down payment' promos, but compensate by charging extremely high interest rates (15%+). Always try to get pre-approved by a bank first!

Loading calculator...

Read the Full Guide

Want to know the exact formula behind this calculator? Check out our comprehensive, human-written guide that explains the law, computations, and exact rules.

Read the Guide →

Related Tools

Home Loan & Amortization Calculator

Compute monthly bank home loan payments, interest rates, and loan terms.

Amilyar (Property Tax) Calculator

Estimate your annual Philippine Real Property Tax (RPT) and SEF.

Pag-IBIG / MP2 Calculator

Estimate your MP2 savings dividends and standard housing loan amortization.