Car Loan Calculator
Estimate your monthly car payment, total interest and the full cost of the car, including down payment and trade-in.
Quick answer
A car loan payment is the fixed monthly amount that repays the amount financed plus interest: P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n the number of payments. Amount financed is price less down payment and trade-in, plus fees.
Car Loan Calculator
Amount Financed
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Total Interest
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Total Cost of the Car
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Paid Upfront
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Monthly Payment
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Year-by-Year Balance
| Year | Payments (₹) | Interest (₹) | Principal (₹) | Balance (₹) |
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Assumptions & method
- Amount financed = price − down payment − trade-in, plus taxes and fees when they are added to the loan.
- Monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 and n = years × 12. At 0% it is P ÷ n.
- Interest is charged monthly on the remaining balance; the rate stays fixed for the whole term.
- Total cost of the car = everything paid upfront + all monthly payments.
- Insurance, fuel, maintenance and depreciation are not included. See the Car Cost of Ownership Calculator.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
How a car loan works
A car loan is an amortizing loan: each monthly payment covers that month's interest and repays part of the balance, so the interest share falls over time. What you borrow is the price less your down payment and trade-in, plus any fees you choose to finance. The rate and the term then set the payment. This calculator shows the payment, the total interest, the total you pay for the car and a year-by-year balance, so you can compare terms and down payments before you talk to a lender.