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how to count car loan interest

1 Answers
LaRowan
12/18/25 11:40am

To calculate car loan interest in Singapore, use the formula: Interest = Principal × Rate × Tenure / 100. Borrowers can finance 60–70% of the car’s price based on OMV. To minimize costs, select a shorter loan term to cut interest, include COE, insurance, and road tax in your budget, and shop around comparing bank rates, credit scores, and terms—but first confirm the overall repayment is affordable.

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