Car Loan Calculator (₹)
Calculate your car loan payments in Indian Rupees with amortization schedule and comparison tools
Loan Details
Loan Summary
| Period | Payment Date | Payment (₹) | Interest (₹) | Principal (₹) | Extra (₹) | Remaining Balance (₹) |
|---|
Saved Loan Scenarios
Scenarios are saved to your browser's local storage and will be available next time you visit.
Compare Loan Scenarios
Select two saved scenarios to compare their details side-by-side.
Scenario 1
Scenario 2
Quick Insight
Plan your car purchase with confidence. Our Car EMI Calculator gives you an instant, accurate estimate of your monthly car payment.
Simply enter the loan amount, interest rate, tenure, and optional down payment to see your exact EMI, total interest, and full repayment schedule. Whether you’re financing a personal vehicle, purchasing a car for business, or budgeting for a specific city’s on-road costs in India, this tool helps you make informed, stress-free decisions.
Why use this calculator (and when)
Whether you’re budgeting for a hatchback in Jaipur, a compact SUV in Bengaluru, or a premium sedan in Mumbai, this car EMI calculator helps you:
- ✅ See what your monthly car payment will be.
- 🔁 Compare loan offers with a car loan comparison (SBI) view.
- 💰 Check the effect of a higher down payment using a car payment calculator with a down payment.
- 📈 Model business purchases with a business car loan calculator scenario.
It’s the fastest way to convert sticker prices into a monthly number you can plan around.
How the calculator works (simple formula)
We use the standard EMI formula to compute the monthly repayment:
Where:
P = Principal loan amount (after subtracting down payment / trade-in)
r = Monthly interest rate (annual rate ÷ 12)
n = Number of monthly payments (tenure in months)
This is the same math banks apply but our interface helps you compare many rates and tenures side-by-side so you can pick the best option.
Our calculator what it shows (outputs)
💳 Monthly EMI
Your fixed monthly car payment.
📊 Total Interest Payable
The total interest you'll pay over the loan term.
🧾 Total Amount Payable
The full sum of principal and interest.
🗓️ Amortization Schedule
A monthly or yearly breakdown of principal vs. interest payments.
Our features what makes this calculator different (unique & practical)
- Down payment & trade-in fields: See how a trade-in or down payment reduces your principal in real time. (Use the car payment estimator to test scenarios.)
- Compare lenders: Add up to 4 lenders’ rates/tenure/fees and view a side-by-side car loan comparison (ICIC).
- Business vs. Personal Mode: In business mode we show depreciation and suggest when a business car loan might affect cash flows (consult your tax advisor for tax treatment).
- Prepayment & foreclosure calculator: Estimate savings and show any penalty impact.
- EMI schedule export: Download amortization as CSV or PDF for accounting or loan documentation.
- Monthly budget planner: Toggles to show EMI as a percentage of take-home salary so you don’t over-commit.
- Notifications & save scenarios: Save multiple scenarios (e.g., “SUV—10% down”) and receive updates if rates change (requires login).
- Transparent fee view: This allows the car loan payment calculator to display the entire cost, not just the EMI, by including processing fees, insurance, and extended warranties.
Also Read: Loan Calculator—Calculate EMI for Home, Car & Personal Loans
Step-by-step: how to use the car loan calculator
- Enter the car’s on-road price in your city (include registration & basic insurance).
- Enter your down payment (₹ or %). This makes the calculator behave as a car payment calculator with a down payment.
- Enter the annual interest rate (e.g., 9.5%) or pick one from lender presets. (Use car loan interest rate calculator mode to test multiple rates.)
- Choose tenure in years or months. Shorter tenure = higher EMI but less total interest.
- Click Calculate—view EMI, total interest, and amortization.
- Use the Compare function to run 2–4 lender scenarios (same inputs). This is your car loan comparison view.
- Export the schedule or save the scenario for later.
Worked example (INR, India)
Here's a sample calculation breakdown:
- On-road price (Bengaluru): ₹9,50,000
- Down payment: ₹1,50,000
- Loan Amount (Principal): ₹8,00,000
- Interest rate: 9.25% p.a.
- Tenure: 5 years (60 months)
- Monthly rate (r): 0.0925 / 12 = 0.007708...
Based on these inputs:
- Calculated EMI ≈ ₹16,624
- Total Interest Payable ≈ ₹198,440
- Total Amount Paid ≈ ₹998,440
Visual Breakdown of Loan Repayment
The chart below illustrates the proportion of the principal loan amount versus the total interest paid over the 5-year tenure.
Yearly Amortization Visualization
This chart shows how your payments are split between principal and interest each year. Notice how the principal portion (blue) grows over time, while the interest portion (red) decreases.
Use the car EMI calculator to plug in exact values and export the full amortization schedule.
Tips to reduce EMI and total cost
- Increase down payment: This reduces the principal loan amount. Use the car payment estimator to test 10–30% down.
- Shorten the tenure: If you can afford a higher monthly car payment, the interest savings are large.
- Improve credit score: A better credit score can help you negotiate a lower interest rate.
- Compare lenders and fees: The cheapest rate may not be the cheapest overall after processing fees and insurance.
- Consider manufacturer offers: Look for 1%/yr lower rates or cashbacks and include those in your car loan comparison.
Local/Geo tips for Indian users
On-road price varies by state due to road tax and registration. Use trusted auto portals like CarDekho On-Road Price Calculator or CarWale Price Guide for accurate city-based prices.
Some lenders run city-specific campaigns (e.g., lower processing fees in Tier-2 cities). Always compare offers for your city.
If you use the car for business, consult your accountant about deductibility; our business car loan calculator mode helps you model cash flows.
Keep local RTO waiting times and delivery timelines in mind; the insurance start date may affect the loan margin (IRDAI Guidelines cover insurance rules).
For official information on vehicle registration and RTO services, refer to the Government of India's VAHAN portal.
Frequently Asked Questions
Q1: What is a car EMI calculator?
A: A car EMI calculator estimates your monthly car loan payment using loan amount, annual interest rate, and tenure. It gives EMI, total interest, and an amortization schedule so you can plan payments.
Q2: Is this an auto loan calculator or a car loan calculator?
A: It’s both: use the auto loan calculator/car loan calculator labels interchangeably. We support personal and business calculations and include down payment and trade-in fields.
Q3: How do I include the down payment in the calculation?
A: Enter the down payment in the “Down payment” field—the calculator subtracts it from the on-road price and computes EMI on the remaining principal. This is the car payment calculator with down payment mode.
Q4: Can I compare lenders and interest rates?
A: Yes. Our car loan comparison feature lets you create up to 4 scenarios (different rates, tenures, and fees) and view EMIs side-by-side.
Q5: What does "business car loan calculator" mean?
A: Business mode shows how the loan affects business cash flow and depreciation schedules (for modeling only). Tax treatment varies—consult a tax advisor.
Q6: How accurate is the car loan estimator?
A: The math is exact for EMI and interest projections, but final bank quotes may include lender-specific fees, insurance choices, and floating rate changes. Use the estimator for budgeting and the lender quote for final numbers. For dispute resolution, you can approach the National Consumer Helpline.
Q7: What is a car loan interest rate calculator?
A: A tool that tests how changing interest rates affect EMI and total interest. Use it to see the impact of a 0.25% or 0.5% rate change.
