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Overview
Loans
Car Hire-Purchase Loan
Tax
SSF / RMF Tax Savings
Car Hire-Purchase (Car Loan). Flat-rate hire-purchase math used by Thai banks for car financing. Interactive Mengira financial calculator with deterministic math: inputs are processed client-side, results update reactively, formulas documented in the on-page explainer.
← Thailand

Car Hire-Purchase (Car Loan)

Flat-rate hire-purchase math used by Thai banks for car financing.

฿ 900,000
฿ 180,000

Thai banks typically require 15-25% DP.

2.90%
5 yrs

Monthly installment

฿ 13,740

Loan ฿ 720,000 over 5 yrs at 2.90% flat

Total interest

฿ 104,400

Total payable

฿ 824,400

Approx. effective rate

5.37% p.a.

DP %

20%

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Next steps

Recommendations
Compare lenders
Bangkok Bank, KBank, SCB and more.
Compare
Insurance class 1
Bundle comprehensive insurance.
Tax savings
Use SSF/RMF to free up cash for DP.

How the math works

Hire-purchase ("เช่าซื้อ") loans use a flat interest model — interest is calculated on the original principal for every year, not on the declining balance.

  1. 01

    Loan principal

    Loan = Price − DownPayment
  2. 02

    Total interest (flat)

    TotalInterest = Loan × FlatRate × Years
  3. 03

    Monthly installment

    Monthly = (Loan + TotalInterest) / (Years × 12)
  4. 04

    Approximate effective rate

    EffectiveRate ≈ FlatRate × 1.85

    Industry rule of thumb (true effective rate depends on amortization).

Estimator only. Excludes VAT, registration fees, insurance bundling and early-settlement penalties.