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Car Loan EMI Calculator

Enter the car price and your down payment to find the loan EMI, total interest and total cost.

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Car Loan EMI Calculator

₹
₹
% p.a.
New-car loans from major banks run roughly 8.5–10.5% (Oct 2026).
years
₹ / month
Monthly EMI
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Loan – · interest –
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Total cost of the car
20 / 4 / 10 rule
    Tenure trade-off same loan, different terms
    GST 2.0 (from 22 Sep 2025): small cars — petrol ≤1,200 cc / diesel ≤1,500 cc and under 4 m — pay 18%; larger cars and SUVs 40% with no extra cess; electric cars 5%.

    Educational estimate, not financial or tax advice. Returns are never guaranteed. Everything is calculated in your browser.

    Runs in your browser — nothing you enter is uploaded or stored.

    ToolFeather · After down payment
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    About the Car Loan EMI Calculator

    A car loan finances the part of a vehicle's price you do not pay upfront. Your down payment reduces the amount borrowed, and everything above that is repaid as a fixed monthly EMI over the tenure. Because a car is a depreciating asset, understanding the true cost — price plus total interest — before you sign matters a lot.

    This tool subtracts your down payment from the on-road price to get the loan amount, then applies the standard EMI formula EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1), with r the monthly rate and n the number of months. It reports the loan amount, the EMI, the total interest, and the total cost of the car including your down payment, so you can see what the vehicle really costs you.

    These are estimates. Real quotes include insurance, road tax, processing fees and optional add-ons that this tool does not model, and rates vary by lender and credit profile. All calculation is done in your browser.

    Examples

    ₹10,00,000 car, ₹2,00,000 down, 9.5% for 5 years → EMI ≈ ₹16,798.
    Raise the down payment to ₹4,00,000 → a smaller loan and a noticeably lower EMI.
    Compare a 3-year vs 5-year tenure to weigh a lower EMI against higher total interest.

    Frequently asked questions

    5 answers
    How much down payment should I make?
    A larger down payment shrinks the loan, EMI and total interest. Many buyers aim for at least 20% of the on-road price, but more is cheaper overall.
    Does the total cost include down payment?
    Yes. The total cost figure adds your down payment to everything you repay over the loan, giving the true amount you spend on the car.
    Are insurance and road tax included?
    No. Enter the on-road price if you want those baked into the base, but the loan math itself excludes separate insurance renewals, fees and add-ons.
    Is a longer tenure a good idea?
    A longer tenure lowers the monthly EMI but increases total interest, and cars depreciate fast. Keep the tenure as short as your budget allows.
    Can I prepay a car loan?
    Most lenders allow prepayment, sometimes with a small charge. Prepaying reduces the outstanding principal and the interest you pay from then on.