Services

PriceProtect™

Compare Car Insurance

Refinance Car Loan

DriveShield™

Drive Well, Earn Perks

GarageGuard™

Get Service Reminders

Insurance

Car Insurance

Compare Car Insurance with Jerry

2024 Car insurance quotes

Cheap car insurance

Best car insurance companies

Shopping for car insurance

Is Jerry a legitimate insurance broker?

Jerry’s Expert Advice

What factors affect car insurance rates?

How does car insurance work?

Types of car insurance

Full coverage car insurance

Car Insurance Estimates

Car insurance by car

Car insurance by location

Home & Renters Insurance

Home Insurance

Compare home insurance quotes

Home & auto insurance quotes

Renters Insurance

Compare renters insurance quotes

Repairs

Car Repair Estimates

Repair Estimates for Popular Services

Oil change cost estimate

Brake pad replacement cost estimate

Battery replacement cost estimate

Timing belt replacement cost estimate

Wheel bearing replacement cost estimate

Spark plugs replacement cost estimate

Rotate tires cost estimate

Transmission fluid service cost estimate

See all 300+ service estimates

Advice

Read Car Content

Browse Jerry Car Advice

How do I know if a mechanic is taking too long?

How to put antifreeze in your car?

What do you do if your car makes a noise?

Read 5,000+ more car advice articles

Check Out Expert Car QnA

Why does my car squeal when I drive?

Do driving warnings go on your record?

How long can you go past your oil change?

How much below MSRP is a good deal?

Learn from 30,000+ more questions

Learn About How We Create Content

Our Editorial Standards

Our Editorial Review Board

Jerry Data & Research

Recent Studies

State of the American Driver (2023)

Memorial Day (2023)

Android vs Iphone (2023)

Auto repairs (2023)

Auto loans study (2023)

Read all recent studies

Comprehensive Data Reports

Jerry Annual Data Report (2023)

Read all data reports

About

MenuIcon

Is EMI calculated differently for commercial car loans vs. personal car loans?

I want to finance a car for my small business. Will the EMI be calculated differently for this car vs. a personal-use vehicle?

Eric Schad · Updated on Mar 8, 2021

Reviewed by Shannon Martin, Licensed Insurance Agent.

The EMI, or equated monthly installment, is the fixed payment you make each month on your car. To determine EMI, you simply add the monthly interest and the monthly principal payment. The amount of principal and interest will vary during the life of the loan, but the overall monthly payment will remain the same.

As far as commercial car loans and personal car loans go, the EMI is calculated in the same way with the vehicle acting as collateral.

View full answer

WHY YOU CAN TRUST JERRY

Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

Find insurance savings

You Might Also Be Interested

Personal Loans vs. Car Loans: What’s the Difference?

Major differences between personal vs. car loans include loan amounts, annual percentage rates, and down payments.

How to Calculate Car Loan Payments

Whether you calculate your car payments online or by hand, you’ll need to gather some basic car information, insurance costs, and your loan term. Read this guide on car payments to learn how.

The Pros and Cons of Financing a Car

Getting a car loan can help you manage the expense and build your credit, but it also means you’ll pay more in the long run.

Mary Alice Morris

Read Advice From Car Experts At Jerry

How to Cancel Mercury Insurance

To cancel your Mercury insurance, you have to call your local agent or customer service, visit a broker office, or send a written cancellation request by mail.

Uninsured Motorist Coverage in Kentucky: Do You Need It?

Kentucky doesn’t legally require drivers to carry uninsured motorist coverage, but that doesn’t mean you don’t need it.

Car Seat Laws in Oregon

Oregon car seat laws apply to kids until they reach a certain height and age. Learn what they need to do to stay safe at every age and size.

Michelle Ballestrasse

What Others Are Asking

Can you flat tow a GMC Canyon?

I’m thinking about buying a used GMC Canyon from my buddy, but I have some hesitations. For example, we like to tow our car behind our RV for family vacations. Can you flat tow a GMC Canyon behind an RV?

How do you test an electric car battery?

I recently purchased an EV and I’m doing everything I can to make sure that it stays in good condition. Thankfully, that means I can skip oil changes and other things like that, but I don’t know how to test an electric car battery to ensure that it’s working properly. Can anyone help me out?

What are the best tires for a Volkswagen Jetta TDI?

Because Volkswagen doesn’t make it anymore, I’ve had a hard time getting intel on the Jetta TDI. What tires are best for a Volkswagen Jetta TDI?

Natalie Todoroff

Browse All Questions

Browse More Content

Car Repair Resources

Insurance for Your Car

Insurance in Your State

Insurance In Your City

Easiest way to compare and buy car insurance

No long forms

No spam or unwanted phone calls

Quotes from top insurance companies

Find insurance savings

Car Insurance by Make

Car Insurance by State

Car Repair by Service

AC Compressor Replacement Cost

Battery Replacement Cost

Fuel Injector Replacement Cost

Fuel Pump Replacement Cost

Ignition Coil Replacement Cost

Oil Change Cost

Oil Pan Replacement Cost

Car Insurance by Company

Aspire Advantage

Assurance America

National General