Flash Posts
Calculate your estimated monthly car payment and total interest paid.
Access a trusted online auto loan calculator. Most banks, car finance companies, and financial websites provide free calculators.
Input the total amount you want to borrow for your vehicle. This should match the loan amount offered by your lender.
Example: ₹10,00,000 for a new car.
Fill in the annual interest rate (APR) provided by your bank or lender. Make sure it’s in percentage form.
Example: 9% per annum.
Enter the repayment period in months or years. Most auto loans range from 1 to 7 years.
Example: 5 years or 60 months.
Some calculators allow you to choose the type of calculation:
After entering all details, click Calculate. The calculator will show:
Analyze the results to understand your monthly financial commitment and total cost of the loan.
Simple Interest: Interest is charged only on the principal:
Interest=P×R×T\text{Interest} = P \times R \times T
EMI/Compound Interest: Interest is calculated on the remaining principal each month, resulting in fixed EMIs using:
EMI=P×r×(1+r)n(1+r)n−1EMI = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}
Where P = loan amount, r = monthly interest rate, n = total months.
An auto loan calculator uses your loan amount, interest rate, and tenure to compute:
An auto loan calculator is an online or offline tool that helps borrowers estimate their monthly car payments, total interest, and loan term. It is essential for planning and comparing car financing options.
The best calculators are:
It helps you: