Car Loan EMI Calculator
Car finance is quoted on the amount you borrow after the down payment, not on the showroom price. Enter the price, what you are paying upfront and the rate you have been offered to see the EMI and what the loan adds to the cost of the car.
On this page
Calculator and results
A ₹12,00,000 purchase with ₹2,00,000 down finances ₹10,00,000, which at 9.5% over 5 years works out to an EMI of ₹21,002.
Paid upfront, so it is not financed.
Monthly EMI
₹21,002
for 5 years
Financed amount
₹10,00,000
Total interest
₹2,60,109
Total payment
₹12,60,109
Principal vs interest
- Principal
- 79.4%
- ₹10,00,000
- Total interest
- 20.6%
- ₹2,60,109
Compare tenures
| Tenure | EMI | Total interest | Total payment |
|---|---|---|---|
| 3 years | ₹32,033 | ₹1,53,186 | ₹11,53,186 |
| 4 years | ₹25,123 | ₹2,05,912 | ₹12,05,912 |
| 5 years | ₹21,002 | ₹2,60,109 | ₹12,60,109 |
| 6 years | ₹18,275 | ₹3,15,770 | ₹13,15,770 |
| 7 years | ₹16,344 | ₹3,72,894 | ₹13,72,894 |
Amortisation Schedule
How each instalment splits between interest and principal over time.
Saved scenarios stay in this browser only. No sign-up.
Monthly EMI
₹21,002
- What it is:
- A car loan EMI calculator that works from the on-road price.
- What it calculates:
- The loan after down payment and exchange value, the EMI, and the total cost of financing.
Key Assumptions
- Lenders typically fund 80% to 90% of the price.
- Insurance and registration may not be financed.
- The rate is fixed for the tenure.
How does the Car Loan EMI Calculator work?
Loan amount = on-road price minus your down payment minus any exchange value for your old car.
Most lenders fund up to 80% to 90% of the on-road or ex-showroom price, so a down payment of at least 10% to 20% is usually required.
Dealer-arranged finance is convenient but not always the cheapest. Compare the rate against your own bank before signing.
Car Loan EMI Calculator formula
Loan amount = on-road price - down payment - exchange value, then the standard EMI formula
- on-road price
- = ex-showroom price plus registration, insurance and charges
- exchange value
- = what the dealer allows for your old vehicle
Car Loan EMI Calculator: worked example
A ₹12,00,000 car with ₹2,00,000 down at 9.5% for 5 years
- Price
- ₹12,00,000
- Down payment
- ₹2,00,000
- Financed amount
- ₹10,00,000
- Interest rate
- 9.5% a year
- Tenure
- 5 years
- Monthly EMI
- ₹21,002
- Total interest
- ₹2,60,109
- Total cost
- ₹14,60,109
Car Loan EMI Calculator: frequently asked questions
Should I use the ex-showroom or on-road price?
What tenure is typical for a car loan?
Does a bigger down payment help?
Can I finance a used car the same way?
Further reading
How Indian lenders work out your monthly instalment, why the interest portion shrinks every month, and what actually changes the number.
What a lump-sum prepayment does to an Indian loan, the choice between cutting the tenure and cutting the EMI, and when it is worth doing at all.
Calculate monthly EMI and total interest for a ₹5 Lakh car loan at 8.75% to 10.5% interest across 3, 5, and 7-year tenures. Compare bank rates.
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Reviewed by Pradipta Ray, MBA (Finance) · Updated