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🚗 Finance Tools

Car Loan Calculator

Calculate your monthly car loan EMI, total interest, and amortization schedule. Pre-filled with typical auto loan rates and tenure.

Home LoanCar LoanPersonal LoanBusiness Loan

Loan Details

₹10K₹1 Cr
9.5%
1%24%
5 years
1 yr30 yrs

Monthly EMI

₹16,801.49

Total Payment

₹10,08,089

Total Interest

₹2,08,089

Payment Breakdown

Principal (79%)Interest (21%)

Amortization Schedule

How to calculate your car loan EMI

Get your monthly auto loan payment and full repayment schedule in four steps.

  1. 01

    Enter the loan amount

    Type the car loan amount. This is the on-road price of the vehicle minus your down payment. Most lenders finance 80–90% of the on-road price.

  2. 02

    Set the interest rate

    Enter the annual interest rate from your bank or dealer. Car loan rates in India typically range from 8.5% to 12% p.a. depending on the lender and your credit score.

  3. 03

    Choose the loan tenure

    Select the repayment period. Car loans typically range from 1 to 7 years. A shorter tenure means higher EMI but less total interest paid.

  4. 04

    Review your EMI and total cost

    The calculator shows your monthly EMI, total amount payable, and total interest. Use the amortization table to see how much principal and interest you pay each month.

What can you use it for?

From new car purchases to refinancing decisions, here are the most common use cases.

New car purchase planning

Calculate the EMI before visiting a dealership so you know your budget and can negotiate confidently without being pressured into a longer tenure.

Used car loan comparison

Used car loans often carry higher rates. Compare EMIs at different rates to understand the true cost of financing a pre-owned vehicle.

Down payment decision

See how increasing your down payment reduces the EMI and total interest, helping you decide how much cash to put in upfront.

Dealer vs bank financing

Dealers often offer in-house financing at higher rates. Run both offers through the calculator to see the actual cost difference over the full tenure.

Tenure optimisation

Compare a 3-year vs 5-year vs 7-year tenure to find the right balance between a manageable monthly payment and minimising total interest.

Refinancing evaluation

If you already have a car loan, use the calculator to see if refinancing at a lower rate would save you money over the remaining tenure.

Frequently asked questions

Common questions about car loans, auto loan EMI, and how to use the results.

Car loan interest rates in India typically range from 8.5% to 12% p.a. (as of 2024–25). Rates depend on the lender, your credit score, the vehicle type (new vs used), and the loan amount.
Most lenders allow an EMI of up to 40–50% of your net monthly income. As a rule of thumb, your car loan EMI should not exceed 15–20% of your take-home salary to keep finances comfortable.
Most banks offer car loans for up to 7 years (84 months) for new cars. Used car loans are typically capped at 5 years. Longer tenures reduce EMI but increase total interest paid.
Yes. A larger down payment reduces the loan principal, which lowers both your EMI and the total interest paid over the tenure. It also improves your loan-to-value ratio, which can help you get a better interest rate.
No. The calculator shows EMI based on principal, rate, and tenure only. On-road price includes ex-showroom price, road tax, registration, and insurance, factor these into your total budget.
Yes, most lenders allow prepayment. Some charge a prepayment penalty (typically 2–5% of the outstanding amount). Check your loan agreement. Use the amortization table to see your outstanding balance at any point.
No. All calculations run entirely in your browser. Your financial details are never uploaded or stored anywhere.
Yes. The calculator is fully responsive and works on any smartphone or tablet.
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