# Auto Loan EMI Calculator

Online financial calculator that allows you to calculate your car and other auto loan EMI, interest rate for a particular amount. Calculate equated monthly installment (EMI) for new and used cars or other vehicles.

## Auto Loan EMI, Interest Rate Calculation

Code to add this calci to your website

#### Formula:

EMI = ( P × r × (1+r)^{n} ) / ((1+r)^{n} − 1)
Where
EMI = Equated Monthly Installment
P = Loan Amount - Down payment
r = Annual Interest rate / 1200
n = Term (Period or no.of year or months for loan repayment.)
*Auto loan EMI and interest rate calculations* for car and other vehicles are made easier.