Current Used Car Interest Rates 2024 Calculator. Below are festival scheme on car loan as offered by various banks in india. Auto loans offer monthly installment loans that are typically more manageable and affordable than other loan types.

So the monthly payment would be $608.29 ($30,000 + $6,497.40 ÷ 60 = $552.50). Mathematically, emi can be calculated using the following formula: