Car Loan Simulator Morocco
Calculate your monthly payment, total loan cost and compare offers from Morocco's top car finance lenders.
Fill in the form
Simulate your car loan and compare 5 financing lenders
How does this simulator calculate your car loan?
The simulator applies the constant-annuity formula used by every Moroccan lender: payment = principal × [r(1+r)^n] / [(1+r)^n − 1], where r is the monthly rate and n the number of installments. You enter the vehicle price (MAD 30,000 to 2,000,000, new or used), your down payment (up to 50% of the price), the term (24 to 84 months) and the annual rate (APR), adjustable from 5 to 18%. The tool instantly shows the monthly payment, the total loan cost and the full month-by-month amortization schedule (principal share, interest share, remaining balance).
The rate assumptions reflect the 2026 Moroccan market: 5.5 to 7.5% APR at banks (Attijariwafa Bank, Banque Populaire, CIH Bank…) and 6.5 to 8.5% APR at the finance companies present in dealerships (Wafasalaf, Salafin, Sofac, Eqdom), with a 0.3 to 0.8-point premium for used vehicles. Example: for MAD 200,000 borrowed over 48 months at 7%, the payment comes to MAD 4,791 before insurance; with the mandatory death-disability insurance (0.4%/year, i.e. MAD 67/month), the total cost reaches MAD 233,200.
The calculated payment excludes ancillary fees: add the death-disability insurance (0.3 to 0.5% of principal per year), processing fees (MAD 250 to 500) and vehicle lien fees (MAD 200 to 400). The built-in comparison then shows indicative ranges for 5 lenders — the final rate depends on your profile, income and down payment. Law 31-08 protects you: a 10-day cooling-off period before funds are released and early-repayment penalties capped at 3 months of interest.
Car loan in Morocco: frequently asked questions
What is the interest rate on a car loan in Morocco in 2026?
Between 5.5 and 7.5% APR at banks (Attijariwafa Bank, Banque Populaire, CIH Bank…) and between 6.5 and 8.5% APR at dealership finance companies (Wafasalaf, Salafin, Sofac, Eqdom). A used vehicle costs 0.3 to 0.8 points more than a new one. Manufacturer finance arms (Renault Crédit, Hyundai Capital…) periodically offer promotional rates of 0% over 6-12 months or 1.99% over 36-48 months, limited to specific models.
What is the monthly payment on a MAD 200,000 car loan?
Over 48 months at 7% APR, the payment comes to MAD 4,791 before insurance (constant-annuity formula). Adding the mandatory death-disability insurance (0.4%/year, about MAD 67/month), the real payment reaches MAD 4,858 and the total cost MAD 233,200, i.e. MAD 33,200 of loan cost. A longer term lowers the payment but increases total interest paid.
What is the minimum down payment for a car loan in Morocco?
10% of the vehicle price for a new car at most lenders, and 15 to 25% for a used one — up to 35-40% for a 10-to-15-year-old vehicle. For used cars, the financed amount is also capped at 80% of the vehicle's Argus value. Some profiles get a reduced down payment, such as young professionals at Salafin (5%) or civil servants with salary deduction at Eqdom.
Can you repay a car loan early in Morocco?
Yes. Early-repayment penalties, 1 to 2% of the outstanding principal depending on the lender, are legally capped at 3 months of interest by law 31-08 (article 123). Wafasalaf and Sofac even offer free early repayment after 12 months — a differentiating advantage if you plan to resell the vehicle.
Which fees come on top of the payment calculated by the simulator?
Three main fees: the mandatory death-disability insurance (0.3 to 0.5% of principal per year, i.e. MAD 600 to 1,000/year for MAD 200,000 borrowed), processing fees (MAD 250 to 500) and vehicle lien fees (MAD 200 to 400). Law 31-08 allows you to take the insurance with an external insurer, sometimes 30 to 50% cheaper than the one offered by the finance company.
Assumptions and rates verified on August 19, 2026 — Wafir.ma
Wafir.ma is an independent comparison service — neither an ACAPS-licensed insurance broker nor a credit institution licensed by Bank Al-Maghrib. Displayed rates are indicative only.