EMI and ownership cost with amortization.. Car Loan Calculator is a free online tool from the ToolsRift Finance & Health Calculators collection. It runs entirely in your browser — nothing to install, no signup, and your data never leaves your device.
Enter the car price, down payment, interest rate and tenure. The calculator shows your EMI, total interest and a month-by-month amortization table.
EMI uses the reducing-balance formula EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly rate and n the number of months.
A larger down payment reduces the loan principal, which lowers both your monthly EMI and the total interest paid over the loan term.
It adds your down payment plus every EMI over the loan, revealing the full amount you pay for the car including all financing interest.