Work out the down payment, monthly instalment and total cost of a car loan. The calculator uses the add-on rates that 7 Philippine lenders publish, and shows which rate it used.
Source: lenders' published rate pages. Last verified .
Calculate your monthly
Estimated monthly payment₱17,402for 60 months
Amount financed
₱800,000
Total interest
₱244,120
Total cost (down payment, instalments and fees)
₱1,244,120
Cash needed up front
₱200,000
Add-on rate for the term
30.51%
Estimate only, not a loan offer. Rate source: Average of Bank of Commerce, Bank of the Philippine Islands (BPI), East West Banking Corporation (EastWest), Metropolitan Bank & Trust Company (Metrobank), Rizal Commercial Banking Corporation (RCBC), Security Bank, verified 13 November 2026. Insurance, registration and chattel mortgage fees are extra unless stated.
Published car loan rates
Total add-on rate for each term, lender by lender.
Published car loan add-on rates by lender and term
Rates are each lender's published add-on rate for the whole term (for example 17.76% over 36 months), for payments in arrears unless noted. “On request” means the lender offers the term but does not publish a rate. Promo rates, your credit standing and the vehicle can change what you are offered.
Questions and answers
How much is the monthly payment on a ₱1,000,000 car?+−
With 20% down (₱200,000) over 60 months at the average published add-on rate of 30.51%, the estimated monthly payment is ₱17,402, and total interest is ₱244,120. This is an estimate based on the published rates of Bank of Commerce, Bank of the Philippine Islands (BPI), East West Banking Corporation (EastWest), Metropolitan Bank & Trust Company (Metrobank), Rizal Commercial Banking Corporation (RCBC), Security Bank, not an offer.
How is a car loan computed in the Philippines?+−
Most lenders quote an add-on rate for the whole term. The amount financed (price minus down payment) is multiplied by one plus that rate, then divided by the number of months. For example, 800,000 financed at 31.01% add-on over 60 months is 800,000 x 1.3101 / 60 = 17,468 a month. The effective annual interest rate is higher than the add-on rate divided by the years, because you pay interest on the full amount for the whole term.
What is the minimum down payment for a car loan?+−
Among the lenders we track, the minimum down payment ranges from 15% to 20% of the price. Dealers' in-house financing can go lower, usually at a higher rate.
Are these the rates I will get?+−
Not necessarily. These are standard published rates as of the verified dates shown. Lenders adjust rates for promos, your income and credit history, and the vehicle. Fees such as chattel mortgage registration and insurance are usually paid on top.
Check financing for a specific model
Tell us the model and your budget and we will pass the request on. No account needed.