Our Car Loan EMI Calculator quickly estimates your monthly payments and total loan cost. Just enter your loan details to see what fits your budget—simple, clear, and hassle-free!
You will pay $80,809 in interest (which is 16.16% of the loan amount) on taking a loan of $500,000 for 3 years. The loan will get paid off by Jul, 2027
| Year | Total Payment (Principal + Interest) | Principal | Interest | Remaining Balance |
|---|---|---|---|---|
| 2024 | $80,668 | $60,840 | $19,828 | $439,160 |
| 2025 | $193,603 | $156,742 | $36,861 | $282,418 |
| 2026 | $193,603 | $173,155 | $20,448 | $109,263 |
| 2027 | $112,935 | $109,263 | $3,672 | $0 |
Planning to buy a car? Our Car Loan EMI Calculator is here to help you understand your financial commitment before you take the plunge. Whether you're eyeing a new or used vehicle, this tool lets you easily estimate your monthly payments and overall loan costs, so you can plan with confidence.
The Car Loan EMI Calculator uses a simple formula to calculate your Equated Monthly Installment (EMI):
The formula is:
EMI = (P × r × (1 + r)n) / ((1 + r)n - 1)
Where:
By inputting your loan amount, interest rate, and repayment term, you’ll instantly see your monthly EMI, along with the total interest you'll pay over the loan's duration.
Ready to see how much your dream car will cost you each month? Use our Car Loan EMI Calculator to get started. It’s a simple, hassle-free way to ensure your next vehicle fits your budget perfectly. Calculate your EMI now and drive away with confidence!