Car Loan EMI Calculator
Estimate a fixed-rate, amortizing car loan payment. This mathematical illustration is not a bank offer and excludes taxes, variable rates, compulsory insurance, origination fees and balloon payments.
Enter your figures
Use your own values for a meaningful estimate.
How this calculation works
Principal = vehicle price ā down payment. Monthly rate r = APR Ć· 1200. EMI = P Ć r Ć (1+r)^n Ć· ((1+r)^nā1). At 0% APR, EMI = P Ć· n.
Worked example
A 20,000 vehicle with 4,000 down and 6% APR for 48 months gives a financed principal of 16,000 and approximately 375.76 per month.
Use the selected country only for currency and unit presentation. This site does not perform exchange-rate conversion or infer regional prices.
Frequently asked questions
What does EMI stand for?
Equated monthly installment: a fixed scheduled loan payment.
Does it include lender fees?
No. Include all mandatory fees when comparing an actual lender quote.