If you are planning to buy a car and want to get a good deal you should do some homework, you need to learn how to calculate car payment ahead of time. You can calculate your monthly car payments or estimate the total cost of your car purchase by following the car payment formula.
For example, you borrowed RM40,000 for your new Honda City for 5 years, with an interest rate of 2.9%. Then, you are expected to pay RM763.33 monthly for the next 5 years (60 months).
Steps On How To Calculate Your Monthly Payments