Car Loan EMI Calculator
A Car Loan EMI Calculator helps you estimate your monthly EMI, total interest payable, and overall loan cost before purchasing a car. By entering the on-road car price, down payment, interest rate, and loan tenure, you can instantly calculate accurate loan details without manual calculations.
Moreover, this Car Loan EMI Calculator supports multiple car types including new cars, used cars, luxury vehicles, and commercial cars. As a result, users can compare interest rates, loan tenure, and repayment amounts easily. Additionally, the calculator provides a complete loan summary with EMI breakup, interest percentage, amortization schedule, and additional ownership costs, helping you make confident financial decisions.
Formula Used for Car Loan EMI Calculation
The standard formula used in a Car Loan EMI Calculator is:
EMI = [P × R × (1 + R)ⁿ] ÷ [(1 + R)ⁿ − 1]
Where:
- P = Loan Amount (Principal)
- R = Monthly Interest Rate
- (Annual Interest Rate ÷ 12 ÷ 100)
- n = Loan Tenure in Months
How the Car Loan EMI Is Calculated
- Enter the on-road car price.
- Add the down payment amount.
- Loan amount is auto-calculated.
- Select car type (new, used, luxury, commercial).
- Enter or adjust the interest rate.
- Choose loan tenure between 12 to 84 months.
- Calculator instantly displays:
- Monthly EMI
- Total interest payable
- Total repayment amount
- Principal vs interest percentage
- Year-wise payment schedule
Key Features of This Car Loan Calculator
- Supports new, used, luxury & commercial cars
- Auto loan amount calculation
- Interactive sliders for price, interest & tenure
- Quick-fill loan buttons
- EMI breakup (principal vs interest)
- Year-wise amortization table
- Total interest and total payable amount
- Additional cost estimation:
- Processing fee
- Insurance cost
- RTO & registration charges
- Indian currency formatting
- Mobile-friendly design
What This Calculator Shows
- Monthly EMI
- Total loan amount
- Total interest payable
- Principal vs interest ratio
- Payment schedule by year
- Estimated additional ownership costs
Disclaimer
All EMI results shown are approximate and for informational purposes only. Actual loan EMI may vary depending on lender policies, processing fees, insurance premiums, and applicable taxes.