Car Affordability Calculator Singapore
Can you afford that car? See the MAS loan limit, minimum down payment, monthly instalment, running costs and yearly depreciation of a new car.
The dealer’s on-the-road price, including COE, ARF and registration.
Decides the loan limit (70% if OMV is $20,000 or less, otherwise 60%) and the ARF used for depreciation. Shown on the dealer’s price list or OneMotoring.
Leave blank to borrow the maximum. Anything below the minimum is raised to it.
Up to 7 years.
Car loans are quoted as a flat rate. The effective rate is roughly double.
Pre-filled for a 1.6-litre petrol car. Use the road tax calculator for other engines and EVs. Singapore Road Tax Calculator →
Singapore drivers average about 1,000–1,500 km a month.
Typical: 5–8 L/100 km for petrol cars, 3.5–5 for hybrids, 14–18 kWh/100 km for EVs.
Pump price after discounts, or your charging cost per kWh.
HDB season parking, condo parking or office parking.
Comprehensive insurance quote.
Servicing, tyres and minor repairs.
To see what share of your pay the car takes.
Your monthly car cost
Bank and finance-company car loans follow MAS limits: 70% of the price if OMV is $20,000 or less, 60% above that, for up to 7 years. Dealer in-house financing is not covered by these rules. Estimates only, not financial advice.
Loan and down payment
Running costs per month
Depreciation over 10 years
Price minus the PARF rebate a new car gets at 10 years (5% of ARF under the February 2026 schedule), spread over 10 years. The real cost of owning the car, whether or not you take a loan.
About this car affordability calculator
Buying a car in Singapore costs far more than the sticker price suggests. This calculator puts the three parts of the cost side by side: the loan, the running costs, and the depreciation that happens whether you borrow or pay cash.
The loan. MAS limits car loans from banks and finance companies to 70% of the price if the car’s Open Market Value (OMV) is $20,000 or less, and 60% if it is above, for at most 7 years. Most new cars have an OMV above $20,000, so expect to pay at least 40% upfront. Car loans are quoted at a flat rate, so the instalment is (loan + loan × rate × years) ÷ months.
Running costs. Road tax, petrol or charging, parking, insurance and servicing typically add several hundred dollars a month on top of the instalment.
Depreciation. A new car with a 10-year COE is worth only its PARF rebate at the end. Under the Budget 2026 schedule that is just 5% of ARF, capped at $30,000, so almost the whole price is lost over 10 years. Dividing that loss by 10 gives the true yearly cost of owning the car.
Enter the price, OMV and your loan terms to see the monthly total, and optionally your take-home pay to see what share of it the car takes.
How to use it
- Enter the car price and OMV from the dealer’s price list.
- Set the down payment, tenure and flat rate, or leave the down payment blank to borrow the maximum.
- Adjust running costs: road tax, distance, fuel use, fuel price, parking, insurance and servicing.
- Optionally enter your take-home pay.
- Read the monthly total, the loan details and the depreciation per year.
Key terms and concepts
OMV: Open Market Value, the car’s import value assessed by Singapore Customs. It sets the loan limit and the ARF.
Loan-to-value: the most you can borrow as a share of the price — 70% or 60% depending on OMV.
Flat rate: interest charged on the original loan for the whole tenure. The effective interest rate is roughly double.
ARF and PARF: the Additional Registration Fee is paid on registration; part of it comes back as the PARF rebate if the car is deregistered within 10 years.
Depreciation: what the car loses in value each year — the biggest cost of owning a car in Singapore.
Common use cases
- Checking whether a new car fits your budget before visiting a showroom.
- Comparing a 5-year and a 7-year loan.
- Comparing a petrol car with an EV on running costs.
- Seeing how the 2026 PARF cut raises depreciation.
- Working out how much cash you need for the down payment.
Examples
Example 1 — $150,000 car, OMV $25,000, 7 years at 2.78% flat. OMV is above $20,000, so the loan limit is 60%: $90,000, with $60,000 down. The instalment is about $1,280 a month, and total interest about $17,500.
Example 2 — running costs. 1,000 km a month at 6.5 L/100 km and $2.80 a litre is $182 for petrol. Add road tax for a 1.6-litre car (about $62 a month), $110 parking, $125 insurance and $67 servicing: about $545 a month.
Example 3 — depreciation. ARF on a $25,000 OMV is $27,000, so the PARF rebate at 10 years is 5% = $1,350. Depreciation is ($150,000 − $1,350) ÷ 10 ≈ $14,900 a year.
Example 4 — a smaller car with OMV $18,000. The loan limit rises to 70% of the price.
Important notes
MAS rules cover banks and finance companies. Dealer in-house loans are not regulated by MAS and may offer different terms.
Depreciation assumes a new car registered from February 2026 and kept for the full 10-year COE. For a used car, use the PARF & COE rebate calculator.
Not included: ERP, carpark charges outside your season parking, fines, and any COE renewal.
Not financial advice. Prices, rates and insurance quotes vary.
Frequently asked questions
How much car loan can I get in Singapore?
70% of the purchase price if the car’s OMV is $20,000 or less, and 60% if it is above, for up to 7 years. These MAS limits apply to banks and finance companies.
What is the minimum down payment for a car?
30% of the price for cars with OMV up to $20,000, and 40% for cars above that.
How is a car loan instalment calculated?
Car loans use a flat rate: interest = loan × rate × years. Add that to the loan and divide by the number of months.
How much does it cost to run a car each month?
Typically $400 to $800 a month for road tax, petrol, parking, insurance and servicing, before the loan instalment.
How is depreciation calculated?
Price minus what you get back at the end (the PARF rebate at 10 years), divided by 10. For cars registered from February 2026, the PARF rebate at 10 years is only 5% of ARF.
How much of my salary should go to a car?
There is no official rule. Many planners suggest keeping all car costs well below 20% of take-home pay; this calculator shows your share so you can judge.
Do dealer loans follow the same limits?
No. MAS limits apply to banks and finance companies. Dealer in-house financing is not regulated by MAS.
Is this an official calculation?
No. It is an estimate using published rules and your inputs. Check the dealer’s quote and loan offer.