How is the Zakat calculated for a loan amount taken to purchase a car, which remained in the bank until the Zakat due date before the completion of the purchase process?

The hundred thousand entered your possession from the moment you borrowed them, and their equivalent became an obligation upon you. If a hawl (full lunar year) passes over them, their zakat becomes due. You begin a new hawl for them from the day they entered your possession. It is permissible to pay their zakat in advance along with the rest of your wealth. There is a difference of opinion regarding deducting debt from zakat-eligible wealth, and the more cautious approach is to pay zakat on all wealth. What we issue fatwa on is to consider non-essential acquisition assets as offsetting the debt and pay zakat on all wealth; otherwise, deduct the debt from the zakat-obligatory wealth.