Car Loan Calculator
Calculate your car loan EMI, total interest payable, and view the complete amortization schedule
The total amount you want to borrow
Annual interest rate charged by the lender
Duration of the loan in years
Initial payment made upfront
One-time fee charged by the lender
About Car Loan Calculator
A car loan calculator helps you determine your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. It provides a complete breakdown of your payments including principal and interest components.
How to Use This Calculator
- Enter the loan amount you wish to borrow
- Input the annual interest rate offered by your lender
- Select the loan tenure in years
- Optionally add down payment and processing fee
- Click Calculate to see your EMI and payment schedule
Understanding Car Loan Terms
- EMI: Fixed monthly payment that includes both principal and interest
- Down Payment: Initial amount paid upfront, reducing the loan amount
- Processing Fee: One-time charge by the lender for loan processing
- Amortization: The process of paying off debt through regular payments
Tips for Getting the Best Car Loan
- Compare interest rates from multiple lenders
- Make a larger down payment to reduce EMI
- Choose a comfortable tenure - longer tenure means lower EMI but more interest
- Check for prepayment charges and hidden fees
- Maintain a good credit score for better rates