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Car Loan Calculator

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About this Calculator

Use our free Car Loan Calculator to calculate EMI, interest, and total car loan cost instantly.

How Car Loan Calculator Works

A car loan EMI includes repayment of principal and interest. This calculator helps you estimate your monthly EMI, total interest, and overall cost before purchasing a car.

Car Loan EMI Formula

EMI = [P × R × (1+R)N] / [(1+R)N − 1]

Where P = Loan Amount, R = Monthly Interest Rate, N = Loan Tenure in Months

Car Loan EMI Example

If you take a car loan of ₹8,00,000 at 9.5% for 5 years, your monthly EMI will be approximately ₹16,800.

Frequently Asked Questions

Is this car loan calculator free?
Yes, it is completely free.

Can I calculate EMI for used cars?
Yes, the formula remains the same.

Does EMI include insurance?
No, insurance cost is not included.

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