Calculate car loan EMI, total interest, and monthly payments for new and used cars. Find affordable auto loan amount with down payment options. Plan your dream car purchase with our free vehicle loan calculator.
Calculate car loan EMI in 4 simple steps:
Enter on-road price of the car including RTO, insurance, and other charges. This is the total amount you'll pay to drive the car home.
Choose down payment percentage (10-50%). Higher down payment = lower EMI and interest. Banks typically require minimum 10-15% down payment.
Enter interest rate (7-15%) and loan tenure (1-7 years). New cars get lower rates than used cars. Shorter tenure saves interest.
See monthly EMI, total interest, and complete ownership cost. Plan your car budget including maintenance and fuel.
Pay 20-30% down payment to reduce loan burden. Lower EMI, less interest, faster ownership. Also improves loan approval chances.
Even 0.5% rate difference saves βΉ15K-30K on βΉ10L loan. Compare rates from banks, NBFCs, and manufacturer financing.
Choose 3-5 years over 7 years. Higher EMI but saves lakhs in interest. Car value depreciates, don't pay loan longer than needed.
Processing fee (βΉ3K-10K), documentation charges, prepayment penalties. Ask for zero processing fee during festive offers.
Keep car EMI under 15-20% of monthly income. Factor in fuel (βΉ5K-10K), maintenance (βΉ2K-5K), insurance (βΉ15K-50K/year).
Score 750+: Get lowest rates (7-9%). Score 650-750: Moderate rates (9-12%). Below 650: High rates or rejection. Improve score first.
Calculate monthly car loan EMI instantly with down payment consideration. Know exact affordability before visiting dealer.
Adjust down payment percentage (10-50%) to see impact on EMI. Plan optimal down payment for your budget.
See total car ownership cost including principal, interest, and down payment. Avoid hidden surprises.
Calculate in INR, USD, EUR, GBP, AED. Works for car loans worldwide with proper formatting.
Try different combinations of price, down payment, rate, and tenure. Find the best car loan option.
Calculate car loan EMI on any device. Compare offers at dealership or home.
Car loan EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay your auto loan. It includes both principal (loan amount) and interest. EMI remains same throughout loan tenure unless you prepay or change tenure.
Current car loan rates (2025): New car: 7.5-10% for good credit, Used car: 10-15%. PSU banks: 8-9.5%, Private banks: 8.5-10.5%, NBFCs: 9-12%. Rates depend on credit score, car value, loan amount, and tenure.
With βΉ50K salary, assuming 40% EMI-to-income ratio: Max EMI = βΉ20K. At 9% for 5 years, you can get βΉ9.5L loan. Add 20% down payment (βΉ2.4L) = total car price βΉ11.9L. Actual eligibility varies by bank and existing loans.
Minimum down payment: 10-15% for new cars, 15-25% for used cars. Example: βΉ10L car needs βΉ1L-1.5L down payment. Higher down payment (20-30%) recommended for lower EMI and better loan approval. Some premium car loans require 20-30% down payment.
Yes, prepayment allowed for most car loans. Charges: 2-5% prepayment penalty depending on bank and loan type. Some banks offer zero prepayment after 6-12 months. Prepay early to save maximum interest as most interest is paid in initial years.
Identity: Aadhaar, PAN, Driving License. Income: 3 months salary slips, 6 months bank statement, ITR (self-employed). Address: Utility bill, rent agreement. Car: Proforma invoice, RC book (used car), insurance. Additional: Employer ID, Form 16.
New Car: Lower interest (7-10%), higher loan amount (90%), longer tenure (7 years), warranty included, faster depreciation. Used Car: Higher interest (10-15%), lower loan amount (80%), shorter tenure (5 years), no warranty, slower depreciation. Choose based on budget and car preference.
Take Loan if: Interest rate low (9% or less), you can invest cash at higher returns (12%+), need tax benefits (business use), preserve emergency fund. Buy Cash if: Have surplus funds, don't want EMI burden, interest rate high (>12%), old car or short usage. Consider opportunity cost of money.
