Estimate your monthly repayments for a Japanese car loan (mycar loan) in seconds.
💡 Tip
A larger down payment lowers both your monthly repayment and total interest. Bank mycar loans usually offer lower rates than dealer loans.
In Japan, car loans fall into two main types: bank "mycar loans" (マイカーローン) and dealer-arranged "dealer loans" (ディーラーローン). Bank mycar loans have stricter screening but typically offer annual rates of roughly 1.5%-4%, while dealer loans approve faster but usually charge around 3%-8% (general 2024-2025 ranges; actual rates vary by lender, vehicle age and credit profile).
Preparing a down payment (atamakin) of roughly 10-20% of the car price generally improves your loan approval odds and eases your monthly burden. Zero-down "full loans" are available but increase total interest.
Japanese mycar loans typically range from 1 to 10 years (up to 84-120 months). A longer term lowers your monthly payment but increases total interest, and used cars may face shorter maximum terms depending on vehicle age.
Most Japanese car loans use the "equal principal-and-interest" (gen-ri-kin-tou-hensai) method, where the monthly payment stays constant while the interest/principal ratio shifts over time.
The loan amount usually covers only the vehicle price. You should budget separately for automobile tax (jidousha-zei), environmental performance tax, weight tax, compulsory insurance (jibaiseki), and the garage certificate (shako shoumei).
If you have spare funds, early repayment (kuriage hensai) can reduce remaining interest costs. Some dealer loan products may charge an early-repayment fee, so check your contract terms first.