How is a car loan EMI calculated?

First, the loan amount is calculated: car price minus down payment and trade-in value, plus sales tax and fees. Then the standard EMI formula is applied using the loan amount, interest rate and tenure.

How can I lower my car loan payment?

Increase your down payment, negotiate a lower interest rate, choose a longer tenure, or trade in a vehicle with higher value.

Car Loan Calculator

Enter the price and any amount you pay upfront.

Car Loan Details

Car Price ($)

Down Payment ($)

Trade-in Value ($)

Sales Tax (%)

Other Fees ($)

Interest Rate (% per annum)

Loan Tenure (years)

yrs

Compound

Extra Monthly Payment ($)

Monthly Payment

—

Loan Amount

—

Total Payment

—

Total Interest

—

Car Loan Amortization Schedule

See how each payment reduces your car loan balance.

Month	Payment	Principal	Interest	Extra	Balance

How is my car loan amount calculated?

Your loan amount equals the car price minus your down payment and trade-in value, plus sales tax and any fees. Entering these values gives you the most accurate monthly payment.