Car Loan EMI Calculator
See the estimated payment and interest before comparing vehicle financing.
Car Loan Calculator
Estimate the payment and interest for a fixed-rate vehicle loan.
Enter a negative amount if the trade-in payoff exceeds its value.
Estimated loan summary
Estimated monthly payment
$563.51
- Amount financed
- $28,800
- Total of payments
- $33,810.3
- Estimated interest
- $5,010.3
Estimate assumes equal monthly payments at a fixed APR. Enter taxes and fees for your location; lender charges, insurance, add-ons, and local rules may change the actual offer.
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What This Calculator Does
Estimate a fixed-rate vehicle-loan payment using the purchase price, taxes and fees, down payment, trade-in equity, APR, and term. This is a comparison estimate, not a lender quote or approval.
How It Works
The amount financed is vehicle price plus entered taxes and fees, minus the down payment and net trade-in equity. A negative trade-in equity value increases the amount financed. The monthly payment uses the standard fixed-payment amortization formula; a 0% rate divides the amount financed evenly across the selected months.
Example
A $30,000 vehicle with $1,800 in taxes and fees and a $3,000 down payment leaves $28,800 to finance before trade-in equity. At 6.5% APR for 60 months, the estimated payment is about $563 per month.
Formula
Vehicle price + entered taxes and fees − down payment − net trade-in equityM = P × r / (1 − (1 + r)^−n)P = amount financed, r = APR / 12, n = number of monthly payments. At 0% APR, M = P / n.
(Monthly payment × number of payments) − amount financedReading the Results
Estimated Monthly Payment
The fixed monthly principal-and-interest installment under the entered APR and term.
Amount Financed
Vehicle price and entered fees after subtracting the down payment and net trade-in equity.
Estimated Interest
Total scheduled payments minus the amount financed; excludes charges not entered into the estimate.
Frequently Asked Questions
What does the car loan EMI estimate include?
It uses the vehicle price, taxes and fees you enter, down payment, net trade-in equity, APR, and term. Insurance, optional products, and lender-specific charges are not added unless included in your inputs.
How do I enter negative trade-in equity?
Enter a negative amount when the payoff on the traded vehicle is greater than its value. That difference increases the new amount financed.
Is APR the same as the lender quote?
The calculator applies the APR you provide as a monthly fixed rate. Lender disclosures, compounding conventions, fees, and eligibility can change a real offer; verify the final terms with the lender.
Can I use this for any country?
The arithmetic is general, but taxes, fees, loan conventions, and currency differ by location. Enter local amounts and confirm the lender’s calculation method.