Car Loan Tenure calculator will help you calculate how long (tenure) will it take to repay a loan, refinanced loan or an outstanding principal amount based on monthly payments (EMI) you can afford.
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?
There are cases when people know what loan amount they want and how much monthly payments (EMI) they can afford. They just want to know how long will it take to repay the loan.
In other cases, people plan to refinance their car loan at a lower interest rate. They have the option to either reduce their EMI or loan tenure. If they choose the latter option, they would like to estimate how much time is required to repay their refinanced loan.
If people are planning to make a partial pre-payment on an existing car loan, they would like to determine the remaining tenure on the outstanding principal amount.
In all the above cases, the Car Loan Tenure calculator will help you calculate how long (tenure) will it take to repay the loan, refinanced loan or outstanding principal amount.
If you know the car loan amount that you need to borrow, let’s say $10,000 and EMI that you can afford let’s say $150 with rate of interest as 8%, then you can use
But is that all you need?
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.