Auto Loan Calculator: Plan Your Car Purchase
Calculate your monthly auto loan payments, total interest, and total cost. Perfect for car buyers in India and worldwide.
Your Auto Loan Details
Monthly Payment
₹0
Total Interest
₹0
Total Cost
₹0
Loan Breakdown
Auto Loan Tips
Compare interest rates to reduce total cost.
Consider a shorter loan term to save on interest.
Ensure monthly payments fit your budget.
More Tools to Explore:
Your Guide to Auto Loan Calculations
What’s an Auto Loan Calculator?
This tool calculates monthly payments, total interest, and total cost for an auto loan based on loan amount, interest rate, and term. It’s ideal for car buyers in India and globally.
How Auto Loans Are Calculated
Formula used for monthly payments:
Monthly Payment:
M = P × [r(1+r)^n] / [(1+r)^n - 1]
Where: P = Loan Amount, r = Monthly Interest Rate (Annual Rate ÷ 12), n = Number of Months
Total Interest:
Total Interest = (Monthly Payment × Number of Months) - Loan Amount
Total Cost:
Total Cost = Loan Amount + Total Interest
Our calculator automates these calculations!
Understanding Your Results
Your loan results include:
| Component | Description |
|---|---|
| Monthly Payment | Your fixed monthly payment for the loan term. |
| Total Interest | Total interest paid over the loan term. |
| Total Cost | Loan amount plus total interest. |
Why Use an Auto Loan Calculator?
Plan your car purchase with confidence:
Budget Wisely
Ensure monthly payments fit your finances.
Compare Loans
Test different rates or terms to save money.
Understand Costs
See the full cost of your loan upfront.
Key Considerations for Auto Loans
Ensure accurate planning with these insights:
Results are estimates based on fixed rates. Actual payments may vary due to fees, taxes, or variable rates. Confirm with your lender for precise terms.
Yes! The calculator uses ₹ as default (India), but results apply to any currency. Input amounts in your currency and interpret results accordingly.
No, the calculator excludes fees (e.g., processing fees) or taxes (e.g., GST on interest in India). Check with your lender for additional costs.
Frequently Asked Questions About Auto Loans
Got questions about auto loan calculations? Here are answers to help car buyers plan their purchase:
It calculates your monthly payment, total interest paid, and total loan cost based on loan amount, interest rate, and term. For example, a ₹5,00,000 loan at 7% for 5 years has a monthly payment of about ₹9,901.
Using the formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months.
Yes! It’s tailored for Indian users (₹) with typical auto loan rates (6–10%). It’s also usable globally with any currency.
Most auto loans range from 1–7 years. Longer terms increase interest costs, so shorter terms are often recommended. Adjust as needed within this range.
Yes! All calculations are done locally in your browser, and no data is stored or shared. Your privacy is guaranteed.