Car Loan Calculator
Calculate EMI for your car loan or auto loan. Plan your vehicle purchase with accurate financing estimates.
Results
Loan Amount
₹0
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
How to Use Car Loan Calculator
- 1
Enter the on-road price of the car
- 2
Input your down payment amount
- 3
Specify interest rate and tenure
- 4
View your EMI and total cost
Car Loan Calculator Formula
Loan Amount = Car Price - Down Payment; EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]Example Calculation
Input Values
Car Price (On-Road)
₹10,00,000
Down Payment
₹2,00,000
Interest Rate (Annual)
9 %
Loan Tenure
60 months
Results
Loan Amount
₹8,00,000
Monthly EMI
₹16,607
Total Interest
₹1,96,420
Total Payment
₹9,96,420
Frequently Asked Questions
What is the minimum down payment for car loan?
Banks typically require 10-25% down payment for car loans. New cars get better terms than used cars.
Is car loan interest tax deductible?
Car loan interest is not tax deductible for personal use. However, if used for business, it may be deductible as a business expense.
What happens if I default on car loan?
The bank can repossess your vehicle, impact your credit score, and take legal action to recover the dues.