See your monthly hire-purchase instalment, total interest cost, and true annual Effective Interest Rate (EIR).
Malaysian hire-purchase loans charge flat interest on the original principal throughout the tenure even as your balance shrinks every month, making the true annual EIR roughly 1.8x to 1.95x the quoted flat rate.
It uses numerical bisection to solve the annuity present-value equation for the exact monthly internal rate of return and multiplies by 12.
Always compare EIR, especially across different loan tenures (5 vs 7 vs 9 years) or when comparing hire purchase against ASB/mortgage reducing-balance financing.