Auto Loan Calculator

Enter the value that you want to calculate Auto Loan..

Loan Amount:
Annual Percentage Rate:
Term in Months:
Monthly Payment: 0

Auto Loan Calculator

Introduction to Auto Loans

An auto loan is a financial agreement where the lender provides money to buy a vehicle, and you agree to pay back the loan amount plus interest over time.

How Our Auto Loan Calculator Works

Our Auto Loan Calculator provides an estimate of your monthly car loan payments based on the loan amount, interest rate, and loan term.

The Auto Loan Calculation Formula

The monthly payment for an auto loan can be calculated using the formula:

\[ M = P \times \frac{r(1 + r)^n}{(1 + r)^n - 1} \]


  • \( M \) is the monthly payment.
  • \( P \) is the loan amount (principal).
  • \( r \) is the monthly interest rate.
  • \( n \) is the loan term in months.

Who Can Benefit from Using an Auto Loan Calculator?

Potential car buyers, auto loan borrowers looking to refinance, and financial advisors can all benefit from using an Auto Loan Calculator.

Practical Uses of the Auto Loan Calculator

Use the calculator for budgeting, comparing loan offers, and making informed refinancing decisions.

Frequently Asked Questions (FAQs)

What is the EMI for a 10 lakh car?
Enter ₹10,00,000 as the loan amount in our calculator with your interest rate and loan term to find the EMI.

How to calculate a vehicle loan?
Use the provided formula or our calculator by inputting the loan amount, interest rate, and term.

Is 7% high for an auto loan?
Compare with current market rates to determine if 7% is high for your situation. Rates vary by lender and market conditions.

Can I buy a car with a 20,000 salary?
Your loan eligibility depends on income, credit score, and existing debts. Consult with lenders for a detailed assessment.

What is HDFC car loan interest rate?
Interest rates change over time. Check the latest rates directly from HDFC Bank or their official website.

Can I buy a car with a 1 lakh down payment?
Yes, but the loan amount and monthly payments will depend on the vehicle's price and the loan terms you qualify for.

What is the EMI for 7 lakh car?
To find out the EMI for a ₹7,00,000 car loan, input the loan amount along with the interest rate and term into our calculator.

Can I buy a car with 40k salary?
Loan approval depends on multiple factors including your income, credit score, and debt-to-income ratio. Lenders will assess if your salary can support the loan payments.

What is the EMI for 5 lakh car?
Use our calculator, entering ₹5,00,000 as the loan amount, along with your specific interest rate and loan term, to calculate the EMI.

Can I get car loan with 30k salary?
While income is a crucial factor, lenders also consider your credit history, expenses, and existing debts to determine loan eligibility.

What is the EMI for 10 lakhs in SBI?
For the most accurate EMI calculation for a ₹10,00,000 loan from SBI, use our calculator with SBI's current auto loan interest rate and your preferred loan term.