# Car finance EMI calculator

If your aim is to buy your dream car using an Equated Monthly Installment (EMI), use the best Car Loan EMI Calculator to calculate the EMIs.

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If you are studying in 9th or 10th class and your family doesn't have a personal car, then you might dream of owning a car in the future. But in the 21st century, a car is no longer just a luxury item.

If you don't have money to buy a car then don't worry government and private banks are ready to give you a car loan on easy monthly EMI. So you can pay the money easily.

## What is a Car Loan EMI calculator?

The Car Loan EMI Calculator is a very simple tool that calculates your EMIs easily and fast. Calculating the EMI is very basic math or formula. But if a Car loan EMI calculator already exists then there's no need for manual calculations. Simply provide the basic information and our Car Loan Calculator will calculate it easily.

### What is the formula for calculating a car loan?

The formula for calculating a car loan EMI is expressed as:

E = P x R x (1+R)^n / {(1+R)^n – 1}
• 'E' stands for the Equated Monthly Installment (EMI)
• 'P' stands for the Principal Loan Amount.
• 'R' stands for the Monthly Interest Rate.
• 'n' stands for the total Number of Payments.

## How to use calculatoro.com car loan calculator?

At the top of the page, you'll find a box. First, enter the car price, then enter the down payment, and third enter the bank interest rate, and last the number of monthly payments. Click 'Calculate' for quick results.

Looking to buy a car using a bank loan? In the below, we provided the different banks list and you can apply directly. ## List of bank

# Bank Name Country APPLY
1 Bank of America USA
2 USbank USA
3 State Bank of India INDIA
4 HDFC Bank INDIA
5 lloydsbank UK
6 HSBC Taiwan
7 BB Americas Brasil

Before you buying a Car using EMI then you must calculate the EMIs using Car loan calculator and read all the term and conditions of the bank.