![]() ![]() That’s the reason we should take loan for amount that is required. So as seen above, with reduction of loan amount, EMI is also decreased. 2 Lakh and take loan of 8 Lakh, below is the calculation:īelow is the screenshot of calculation: Car Loan EMI for 8 Lakh Car Love Reading Books? Here are some of the Best Books you can Read: ( WITH LINKS)Ĭonsidering that entire 10 Lakh will be taken as loan and Using the calculator and below numbers for your car loan:īelow is the screenshot of calculation: Car Loan EMI for 10 Lakh Car It gives you the EMI amount for various interest rates that you can compare between banks such as SBI, ICICI, Axis, HDFC, etc.You can also adjust the tenure in months and get the EMI in affordable range.This calculator gives you the idea of EMI to check if you can afford.No showroom can provide you incorrect quotes and misguide you There are multiple benefits of using car loan calculator: Benefits of using online Car Loan EMI Calculator You can check calculations for entire car loan tenure by using this Car Loan Excel calculator. This continues till the end of loan tenure. 3,750 ( Interest Amount).įurther, as you will notice, the principal amount increases in 2nd month, but the interest amount decreases in same 2nd month. 15,900 in first month is divided into 2 parts – Rs. ![]() This car loan repayment table is the table that shows you every month EMI amount ( that is kept unchanged) and details of principal and interest amounts from this EMI, which changes every month.īelow is the car loan repayment table: MonthsĪs seen in above car loan repayment table ( only first 10 months displayed), EMI of Rs. Let us now go one step further and see how car loan EMI will be divided in 2 components using car loan repayment table. So far we have understood how to calculate car loan EMI using calculator. You may also like Home Loan Prepayment method if you have Home Loan EMI as well. Watch below video on How Car Loan Prepayment can help you save interest with help of examples in excel: Car Loan Prepayment in Excel – Video
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