Car Loan Amount Calculator helps in
This calculator will solve for any one of four possible unknowns: "Amount of Loan", "Total Scheduled Periods" (term), "Annual Interest Rate" or "Periodic Payment" amount.
Enter a '0' (zero) for one unknown value.
Or you can enter all 4 values and the calculator will create a payment schedule using your numbers. The final payment amount will be rounded to result in a zero balance. If you enter more months than are necessary to pay the loan off at the specified payment amount, the schedule will show the true term. If the payment is not large enough to reach a zero balance within the specified term, the schedule will show a balloon payment for the final payment amount.
The term (duration) of the loan is expressed as a number of months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
Need to select a different payment or compounding frequency?
If you are planning to purchase a car, you must be thinking what loan amount you can borrow based on affordable EMI, varying tenure and interest rate.
If you know how much EMI you can pay every month, then you can determine how much you can afford. Enter the EMI that you can pay every month, the interest rate (charged as per your bank) and the preferred tenure, the Car loan amount calculator will tell you how much Loan amount you can borrow.
If you can afford to pay Let’s say $150 on a monthly basis and repay it in 48 months (4 years) with
But If you don’t have any idea regarding what EMI you can afford, click here to read “How much car you can afford?”. This will help you understand “How much you should spend on a car” no matter if you are paying in cash or planning to finance your car through car loan.
Also check our Car Affordability Calculator to estimate your affordable EMI.
But is that all you need?
So, what are other calculators people might need apart from a basic Car Loan Amount Calculator?
Basically, people want answers for 4 core questions when going for a car loan.
- How much would be the monthly payment i.e. EMI for my Car loan? – Car Loan EMI Calculator
- How much money can I borrow based on EMI that I can afford? – Car Loan Amount Calculator
- How long will it take to repay my loan? – Car Loan Tenure Calculator
- How much interest would I have to pay if I am buying a used car instead of a new car? Car Interest Rate Calculator
To address the above four questions, we have created four calculators that are easy to use, intuitive and quick to perform. These calculators also consist of advanced features like payment schedule, charts and currency format options.