Car Loan Calculator | Monthly EMI & Interest – CalHub

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Car Loan Calculator

Calculate your monthly car loan EMI and plan your vehicle purchase wisely.


Monthly Car Loan EMI

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Car Loan Calculator - Free Online EMI Calculator for New & Used Cars

The CalHub Car Loan Calculator is a free online tool to calculate your EMI (Equated Monthly Installment) for new or used cars in India. Use it to plan your monthly budget, estimate loan payments, and choose the best financing option quickly and accurately.

What is a Car Loan?

A car loan helps you purchase a new or used vehicle by paying a fixed monthly EMI. The EMI consists of principal repayment and interest charged by the lender. This allows you to buy a car without paying the full amount upfront.

How Car Loan EMI is Calculated

The standard EMI formula is:
EMI = P × r × (1 + r)n / [(1 + r)n − 1]
Where P = Loan Amount, r = Monthly Interest Rate, and n = Number of Monthly Installments.

Why Use CalHub Car Loan Calculator?

  • Instant & Accurate: Calculates EMI for both new and used cars instantly.
  • Plan Your Budget: Helps you manage monthly expenses and loan repayment effectively.
  • Free & Easy: No registration required, accessible on mobile and desktop.
  • Secure: No personal data is stored or tracked.
  • Compare Loan Options: Helps you understand the impact of down payment, interest rate, and loan tenure.

Frequently Asked Questions

Yes, this calculator works for both new and used car loans.

Yes, a higher down payment reduces the loan amount and monthly EMI.

Car loans usually have fixed interest rates, but some banks may offer floating rates.

Yes, it uses the standard EMI calculation formula followed by banks and financial institutions.

No, all calculations are done locally in your browser. CalHub does not store any personal information.

Use the CalHub Car Loan Calculator to plan your finances effectively, compare EMI options, and make informed decisions before applying for a car loan in India.