Car Loan EMI Calculator Excel with Principal & Interest Examples| Car Loan EMI Calculation formula
In this video by FinCalC TV, we will see how to calculate Car Loan EMI using Excel Calculator formula examples in hindi and Car Loan principal & interest amounts calculation excel sheet prepayment option. We will also see how you can save Car Loan interest by Car Loan repayment calculation. We will also see how interest and principal amounts of Car Loan EMI will be calculated. Car Loan EMI can be increased to reduce the total interest.
Car Loan Prepayment Video to save Interest:
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After watching this video following queries will be solved:
How to calculate Car Loan EMI?
How to calculate Car Loan EMI in excel sheet?
What is Car Loan EMI calculation excel formula?
What is Car Loan EMI calculation formula?
How to reduce Car Loan interest?
Car Loan prepayment or repayment options?
Principal and interest amounts of Car Loan emi?
Car Loan emi increase will save interest amount?
Increase in EMI will decrease loan interest payment?
Benefits of Car Loan prepayments?
What iF Car Loan emi not paid?
What is Car Loan EMI Calculator?
Car Loan EMI Calculator assists in calculation of the loan installment i.e. EMI towards your Car Loan. It an easy to use calculator and acts as a financial planning tool for a home buyer.
What is Car Loan EMI?
EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your Car Loan. A longer loan tenure (for a maximum period of 30 years) helps in reducing the EMI.
How does EMI calculation help in planning the home purchase?
Car Loan EMI calculator gives a clear understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards the housing loan every month. This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of Car Loan eligibility and planning your home buying journey better.
Factors that Affect Housing Loan EMI
Principal- The principal is the loan amount that you avail from the lender. It is directly proportional to your EMIs - lower principal will lower your monthly instalments and vice versa.
Rate of interest- The rate of interest is the rate at which the lender offers you the loan. It is also directly proportional to the value of your loan EMIs.
Tenure- The tenure is the time within which you repay your loan. The tenure is inversely proportional to your loan EMIs - longer tenure makes the monthly instalments cheaper and vice versa.
What is Car Loan Amortization Schedule?
Loan amortization is the process of reducing the debt with regular payments over the loan period. A Car Loan amortization schedule is a table giving the details of the repayment amount, principal and interest component.
EMI calculators give a fair understanding about the ratio of the principal amount to the interest due, based on the loan tenure and interest rates. EMI calculator also provides an amortization table elucidating the repayment schedule. Car Loan calculator provides a complete break-up of the interest and principal amount.
How do part-prepayments impact your EMIs?
Part-prepayment brings down the principal amount, which in turn lowers the interest amount that you have to pay, which results in lower EMI amounts overall.
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DISCLAIMER:
Examples used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.
