Car Loan Calculator
Estimate the EMI and interest cost on your next car.
Your inputs
On-road price less down payment, repaid at a fixed rate.
Estimates only. Figures are indicative and do not constitute financial advice.
About the Car Loan Calculator
Searching "car loan EMI calculator" before you visit a showroom is one of the smartest things you can do — it stops a salesperson's monthly EMI pitch from being the only number you see. This calculator starts from the car's on-road price (not just the ex-showroom price, since that's what you'll actually finance) and your planned down payment, then shows you the real EMI based on the loan amount you'd actually need.
Car loans in India typically run 1-8 years, and interest rates depend on whether the car is new or used, your credit score, and the lender. A bigger down payment directly lowers your loan amount and EMI — many buyers underestimate how much a 20-30% down payment (versus the minimum lenders require) can reduce total interest paid over the loan. This calculator shows your loan amount, monthly EMI, total interest, and — usefully — the total cost of the car including your down payment and all EMIs combined, which is the number that matters most when comparing "can I actually afford this car" against a sticker price. Use it to compare a shorter, higher-EMI tenure against a longer, lower-EMI one, check how increasing your down payment changes affordability, or get a realistic number before you're sitting across from a dealer's finance desk. It works for both new and used car loans — just adjust the interest rate to match what your lender is quoting.
How to use this calculator
- Enter the car's on-road price.
- Enter your planned down payment.
- Enter the interest rate and loan tenure.
- See your loan amount, EMI, total interest, and total cost of the car.
Frequently asked questions
›What is on-road price vs ex-showroom price?
Ex-showroom price is the car's base cost before registration, insurance, and other charges; on-road price adds all of that in, and is the amount most buyers actually need to finance.
›How much down payment should I pay for a car loan?
Lenders typically require a minimum of 10-20% down payment, but paying more upfront (where affordable) reduces your loan amount, EMI, and total interest paid over the loan term.
›What is a typical car loan tenure in India?
Car loan tenures usually range from 1 to 8 years, with shorter tenures carrying higher EMIs but much lower total interest compared to stretching the loan out longer.
›Do used car loans have higher interest rates than new car loans?
Generally yes — used car loans tend to carry higher interest rates than new car loans, since the vehicle is considered higher risk collateral by the lender.
›Does this calculator account for car insurance and registration?
If you enter the on-road price (which already includes registration and insurance), those costs are reflected in your loan amount — this calculator itself only computes EMI and interest, not the underlying charges.
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Read the full guide
Car Loan EMI Calculator: How Much Will Your Car Loan Actually Cost