The formula For calculating your car loan EMI is as below:u003cbr/u003eu003cstrongu003eu003cemu003eEMI = (P x R x (1+R)^N) / ((1+R)^N - 1)u003cbr/u003eu003c/emu003eu003c/strongu003eWhere: EMI = Equated Monthly Installment, P = Principal loan amount (total loan amount), R = Monthly interest rate (annual interest rate divided by 12 and multiplied by 0.01) N = Loan tenure in monthsu003cbr/u003e