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Car Loan Calculator
See your true monthly payment, total interest, and full amortization schedule — with Philippine chattel mortgage fees rolled into the financed principal. Every number is editable.
Loan inputs
Results
Monthly payment
₱17,234
Total interest
₱194,033
Total cost over loan
₱1,034,033
Principal financed
₱840,000
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BPI Family Auto Loan
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How it works
The calculator uses the standard amortization formula: monthly payment equals P × r × (1 + r)n / ((1 + r)n − 1), where P is the financed principal (vehicle price minus down payment plus chattel mortgage fees), r is the monthly interest rate (APR ÷ 12), and n is the number of months. Each schedule row shows the interest and principal split for that month, with the balance winding down to zero at the final payment.
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Frequently asked questions
How does a car loan work in the Philippines?
Most PH car loans are amortized monthly: you finance the vehicle price minus your down payment plus chattel mortgage fees, then pay an equal monthly amount over 12–60 months. Each payment is part interest, part principal — early payments are mostly interest, later payments are mostly principal.
What is chattel mortgage and why does it add to my loan?
Chattel mortgage registers the vehicle as collateral with the LTO so the bank can repossess it if you default. The fee is usually 3–7% of the financed amount and is rolled into the loan principal. The calculator's 'Chattel / processing fees' field handles this — adjust it to match your bank's actual quote.
What's a realistic interest rate for a car loan in 2026?
Major Philippine banks (BPI, BDO, Security Bank, Metrobank) typically quote 7.5–10% APR for brand-new vehicles, with promos occasionally landing as low as 5.99% on specific models or terms. Used vehicles and longer terms usually carry higher rates. Always confirm the published APR with your loan officer.
Should I pay a bigger down payment to lower my monthly?
A larger down payment reduces the financed principal, which lowers both the monthly payment and total interest. The trade-off: cash out the door is higher today. Try ₱200K vs ₱400K down on the same loan in the calculator — you'll see the monthly drop and total interest savings side by side.
Is a longer term (60 months) always worse than a shorter one (36 months)?
Longer terms reduce the monthly payment but increase total interest paid. A ₱800K loan at 8.5% APR over 60 months costs ~₱185K in interest; the same loan over 36 months costs only ~₱109K — but with a much higher monthly. Pick the longest term that still feels financially safe.
Does the calculator save my data?
No. All math runs in your browser. We don't collect, store, or transmit your numbers to any server. Close the tab and the values disappear.
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Sources & references
From official issuer, regulator, and data-provider sites. Verify any figure against the primary source before acting on it.