![]() Amount or Vehicle price: This is the total cost of a vehicle that is being financed.In order to calculate your auto loan EMI, you need to enter the following details into the calculator: Using the Auto Loan EMI Calculator to determine your monthly payments Let's see how you can take advantage of the auto loan EMI calculator designed by iCalculator. There are other options available to do so, such as using spreadsheets and online calculators. This is the mathematical formula for obtaining the EMI amount manually. N = is the number of monthly installments.R = This is the interest rate per month, if the interest rate per annum is 5%, then the rate of interest will be 5/(12 x 100)]. ![]() P = The total loan amount or total principal.You may apply the following formula in order to find out the EMI. ![]() If you are choosing to finance your car with an auto loan, you must know how much you will have to pay on a monthly basis, but how? Calculating the auto loan EMI could resolve this issue for you. Let's take a look at the calculation method now. However, you should always choose the loan shortest possible loan tenure as longer loan tenure will result in higher interest payments. The longer the loan term the smaller the EMI. The auto loan EMI (principal amount + interest) will be spread based on the selected loan tenure.
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