Car Loan EMI Calculator
Calculate your car loan EMI including down payment.
Input Values
₹
₹
%
Years
Results
Enter values to see results.
⚠️ Results are indicative only. Consult a qualified professional before making any decisions.
What is this Calculator?
The Car Loan EMI Calculator helps you estimate your monthly car loan instalment including down payment, total interest payable, and total repayment amount. Use it to plan your car purchase budget before visiting a dealership.
How to Use
1
Enter Car Price: Enter the on-road price of the car you plan to buy.
2
Enter Down Payment: Enter the initial amount you will pay upfront.
3
Enter Interest Rate: Enter the car loan interest rate (p.a.).
4
Enter Tenure: Enter the loan repayment period in years.
5
View Results: See Loan Amount, Total Interest, Total Payment, and Monthly EMI.
Frequently Asked Questions
Car loan interest rates in India typically range from 8.5% to 12% p.a. depending on the lender, car type (new/used), and your credit score.
Most banks require a minimum down payment of 10–20% of the car's on-road price. A higher down payment reduces your loan amount, EMI, and total interest paid.
Car loans are typically available for 1–7 years. Most people choose 3–5 years for a balance between EMI amount and total interest paid.
Car loan interest is tax deductible only if the car is used for business purposes. For personal use, no tax benefit is available on car loan interest.
Taking a car loan makes sense if you can invest the cash at a higher return than the loan interest rate. Otherwise, paying cash avoids interest costs entirely.
Missing EMI attracts late payment penalties, damages your CIBIL score, and in extreme cases, the bank can repossess the vehicle.