# Car Payment Calculator

### Car loan EMI Calculator :

Car payment calculator estimate car loan monthly EMI payment. To calculate car loan EMI you need to know the loan amount, the annual interest rate on loan, and time of the loan. Our loan repayment calculator estimates the exact monthly car installment amount.

### What is a car loan?

For every middle class buying an own car is a dream but it very difficult to achieve. So here comes car loan to accomplish your dreams. In this user borrowing money from the bank to buy a car with loan pay off time. To get a car loan you need to fulfill all the requirements of the bank and accept the terms and conditions of the bank.

Every bank has its own rules majorly every bank will look credit score, credit history, previous loan credit reports of the user to get eligibility to loan. Once you will be eligible to get the loan then our car payment estimator will help you to decide manageable monthly loan EMI payment for your loan. You can adjust the loan period as per your loan repayment capacity. It is easy and secured loan with monthly payment service. How to calculate EMI for a car loan?

To calculate EMI of a car loan you can use a traditional formula-based. Here in this method, you need to know the details like loan amount, loan interest, and time of the loan.

**EMI Formula :**

P x R x (1+R)^N / [(1+R)^N-1]

Where P is the principal amount; R rate of interest; N is the number of years.

Sometimes it's very difficult to calculate EMI value in a traditional method. So here we come up with a simple and easy car loan EMI calculator to calculate your loan EMI value. Here simply put the values and click on calculate you will get 100% accurate results.

How to use car payment calculator?

To use this calculator you need to follow below steps.

Step1:

Open car payment calculator.

Step2:

Enter the principal loan amount, rate of interest, and life of the loan.

Step3:

Click on calculate payments to get a result.