Auto Loan EMI Calculator

Car Loan EMI Calculator

Input Fields

Loan amount

P

$

Enter the loan amount (Car cost minus down payment)

Annual interest rate

r

%

Enter the annual interest rate

Loan term

n

years

Enter the loan term in years

CalculateReset

Calculate automaticallyIf enabled, the result will update automatically when you change any value.

Your Results

Monthly EMI

Total Payment

Total Interest

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Auto Loan EMI Formula

$$EMI = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}$$

Where:

• $$EMI$$ = Equated Monthly Installment
• $$P$$ = Principal loan amount
• $$r$$ = Monthly interest rate (annual interest rate divided by 12)
• $$n$$ = Total number of monthly payments

The Auto Loan EMI Calculator helps you understand your monthly car loan repayment amount, taking into account principal, interest rate, and loan tenure. It’s perfect for budgeting and comparing loan offers when purchasing a new or used car.