can I calculate like this?
if used the money to pay car loan = saved RM 5700

if used that money to put in the flexi account will get 4.15%pa......
you need to calculate the amount she would earn by the same duration of the balance of the car loan duration.

which one more untung?

Car loan for rm64000
Interest rate is 315%
total number of Months instalment paid = 14 month

What is the total number of months more to paid?
What is the monthly instalment to be paid?

Btw....i read b4 that "they" only pay one just some token of appreciation for early repayment.....there is really not much of financial benefits for early repayment if one have a flexi loan to trade....but then hv to consider the balance of loan duration to go too......for car loan interest amount had already been factored in the repayment amount......vs the amount one can untung from the time in the flexi loan
Well...just guessing.....non financial mind person

"Q: Will she be economically better off settling the car loan?"

She will still be the same, with same net asset and liability. Neither poorer nor richer. 

Yes, simple math can shows which loan is more costlier. (First, convert the flat rate interest in the HP to reducing balance rate as in the house loan - for apple to apple comparison.)

But one should do all these maths before getting the loans.

After getting the loans, then it is a whole set of different calculations because the loans are agreements or contracts. There are penalties and extra fees to pay in breaking them.

While a housing loan will show the outstanding amount if it is pay in a lump sum, a car loan do not. In paying off a car loan in a lump sum, the rule of 78 applies. Or we can also use an online calculator as you indicated in above post.

A better question to ask is: "Is she willing to use the lump sum to settle the car loan or keep it at her disposal for any urgent needs?"

Having the lump sum at her disposal could matters more than the chump change saved in settling the car loan.

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Actually, quite a few of the queries in this forum is similar in nature.

All wanting to know how much would be saved if converting one type of loan to another, or how much would the gains be if money is taken out of flexi house loan to invest.

IMHO, this is like putting the cart before the horse.

It seems like people are taking the loans first, then think about it. When talking to the bank loan officer or agent, it seems that the objective is to get as much as possible, and the longest tenure as possible.

Common sense already told us that loans comes together with interest. The highest loan amount at the longest tenure possible will incur the highest cost of interest. And this interest will be paid back in every monthly installments.

If we view loans as a necessary expenditure as like other things we have to spend, then we should be careful in not having too much loans. Just like we don't buy things more than we need, since it is wasteful.

So, how much to borrow without being too much?

The simple answer: how much can you afford to pay back every month without fail and yet it is the highest amount you can bear to do so?

Ask yourself this: The highest amount you can bear to pay back every month in the monthly installments.

It means that you are doing all you can within your best abilities to pay back the loan soonest possible.

Which in turns mean the correct balance between the loan amount and the loan tenure that you should have. Which in turns mean the lowest possible cost of interest.

If you are already having a loan with the lowest possible cost of interest, then you are already spending and using your money in the most possible efficiency manner you can possible do.

At the end of the day, out of your salary, you will be using part of the money on food, sundries, housing loan, car loan, etc etc. And every ringgit is used as efficiently as possible.

If there is any balance or savings left, then you are free to think about how to use it wisely. You don't have to re-think whether it is better or not to settle this loan or that loan first, or whether or not, it would be better to invest it or use it to settle any loan.

Always keep it simple, and think of loans as a necessary expenditure. Think of it as part of a financial plan too, so that you can stick to the agreement/contract with the bank.

Lastly, don't break the agreement... even if you think you can get another better offer from another bank. Don't.

Don't overestimate yourself that you can outsmart the bank with hundreds of well-paid financial professionals under its employment.