36 vs 48 Months Car Loan 2026
By Aditya AmanPublished Sep 28, 2026Editorial PolicyLives in the Philippines and has driven nearly every Luzon expressway with his family.On a ₱1,000,000 loan, 36 months costs ₱6,867 more a month than 48 months, and saves ₱54,400 in interest.
- 36 months
- ₱32,003 a month, ₱152,100 interest (Maybank)
- 48 months
- ₱25,135 a month, ₱206,500 interest (UnionBank)
- Difference a month
- ₱6,867
- Interest saved on the shorter term
- ₱54,400
Every term for your car
Pick your car or type its price. Each row is the bank with the lowest monthly payment for that term.
36 months costs ₱6,867 more a month than 48 months and saves ₱54,400 in interest.
| Pay over | Cheapest bank | Monthly | Total interest | Total paid |
|---|---|---|---|---|
| 12 months | BDO | ₱86,757 | ₱41,089 | ₱1,291,089 |
| 18 months | BDO | ₱59,140 | ₱64,525 | ₱1,314,525 |
| 24 months | BDO | ₱45,800 | ₱99,189 | ₱1,349,189 |
| 36 months | Maybank | ₱32,003 | ₱152,100 | ₱1,402,100 |
| 48 months | UnionBank | ₱25,135 | ₱206,500 | ₱1,456,500 |
| 60 months | UnionBank | ₱20,967 | ₱258,000 | ₱1,508,000 |
Example car, ₱1,250,000, brand new, at the bank with the lowest monthly for each term. Total paid includes the down payment, not insurance or one-time charges.
How the monthly payment is worked out
UnionBank's 48-month add-on rate of 20.65% on a ₱1,000,000 loan, step by step. Most banks charge this way.
Year-by-year schedule on a yearly rate
BDO charges 10.50% a year on the balance you still owe, so each payment of ₱21,494 pays more principal as the balance falls. ₱1,000,000 over 60 months:
| Year | Principal paid | Interest paid | Balance at year end |
|---|---|---|---|
| Year 1 | ₱160,505 | ₱97,421 | ₱839,495 |
| Year 2 | ₱178,194 | ₱79,733 | ₱661,301 |
| Year 3 | ₱197,831 | ₱60,096 | ₱463,470 |
| Year 4 | ₱219,633 | ₱38,294 | ₱243,837 |
| Year 5 | ₱243,837 | ₱14,090 | ₱0 |
Questions
Is it better to take a 36 or 48 month car loan?
36 months saves ₱54,400 in interest on ₱1,000,000 but costs ₱6,867 more each month. If the 36-month payment fits your budget, it is the cheaper loan overall.
How much more is a 36-month car loan per month?
₱6,867 more on ₱1,000,000 at the cheapest bank for each term: ₱32,003 against ₱25,135.
More on loan terms
- 20% vs 30% Down Payment
- 48 vs 60 Months
- Best 12-Month
- Best 24-Month
- Best 36-Month
- Best 48-Month
- Best 60-Month
- Car Loan Amortization Table Philippines
Compare every bank for your car, or see what ₱20,000 a month can finance.