#car loan calc
Our Car Loan Calculators
To help you get a better understanding of how much you can borrow in order to make a sound car financing decision, we have designed these easy-to-use car loan calculators for you.
What is my monthly repayment
Calculate your monthly payment after factoring in the car loan amount, interest rate and loan tenure.
Car Loan Glossary
Scheme enables all new cars, taxis, and imported used cars registered from 1 January 2013 with low carbon emissions of less than or equal to 160g/km, to qualify for rebates between S$5,000 and S$20,000, which will be offset against the Additional Registration Fee (ARF) payable.
On the other hand, car owners will be penalised with a surcharge of S$5,000 to S$20,000 if their vehicle emits carbon more than or equal to 211g/km.
Anyone who wishes to register a new vehicle in Singapore must first obtain a Certificate of Entitlement (COE), in the appropriate vehicle category. A COE represents a right to vehicle ownership and use of the limited road space for 10 years.
At the end of the 10-year COE period, vehicle owners may choose to deregister their vehicle or to revalidate their COEs for another 5 or 10-year period by paying the Prevailing Quota Premium.
Note: A 5-year COE (except for Category C vehicles with a 5-year COE that is expiring on or after 25 Feb 2013) cannot be further renewed. This means that at the end of the 5-year COE, the vehicle will be deregistered.
Owners of Category C vehicles with 5-year COE that is expiring on or after 25 Feb 2013 can further renew their COE. However, all renewals can only be for a 5-year period, subject to the vehicle’s statutory lifespan.
COEs are released through competitive bidding. There are 2 bidding exercises every month.
Certificate of Entitlement (COE) – Consists of five categories:
- A (Cars 1600CC below 97KW),
- B (Cars above 1600CC or 97KW),
- C (Goods Vehicle Bus),
- D (Motorcycles), and
- E (Open).
For a motor vehicle with an OMV that does not exceed S$20,000, the maximum loan-to-value (LTV) is 60 percent of the purchase price, including relevant taxes and the price of the Certificate of Entitlement (COE).
For vehicles with an OMV of more than S$20,000, the maximum LTV will be capped at 50 percent.
Assessed by the Singapore Customs, OMV takes into account the purchase price, freight, insurance and all other charges incidental to the sale and delivery of the car from the country of manufacture to Singapore. The OMV is not the selling price from the manufacturer to local authorised dealers.
The PARF rebate is computed based on the age of the car at deregistration. The age of the car is computed from the date of its registration in Singapore or its original registration in a foreign country, whichever is earlier. Imported used car registered in Singapore before 1 September 2007 is not eligible for PARF rebate. The S$10,000 used car surcharge will not be taken into consideration in the computation of PARF rebate.