Car Loan Calculator
Estimate the EMI on a car loan after your down payment, with total interest and cost.
- Loan amount
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- Total interest
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- Total payment
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Know your car EMI before you buy
A car loan finances the on-road price minus your down payment. The bigger your down payment, the smaller the loan and the lower your monthly EMI. This calculator turns the price, down payment, interest rate and tenure into a clear monthly figure so you can compare offers on the spot.
How the car loan EMI is calculated
First the loan amount is found as price − down payment. The EMI is then
P × i × (1 + i)n ÷ ((1 + i)n − 1), where P is the loan
amount, i is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of
months (years × 12). Car loans usually run 3 to 7 years.
How to use the Car Loan Calculator
- Enter the car price. Type the on-road price of the car you want to buy.
- Add your down payment. Enter the amount you will pay upfront from your own pocket.
- Set rate and tenure. Fill in the annual interest rate and the loan period in years.
- Read the result. See the loan amount, monthly EMI, total interest and total cost instantly.
Frequently asked questions
How much down payment should I make?
A larger down payment reduces the loan and your EMI, and saves interest. Many buyers aim for at least 20% of the car price upfront.
Does the calculator include insurance and road tax?
No. Enter the on-road price if you want those bundled, or the ex-showroom price for the base cost. The tool computes EMI only on the financed amount.
Should I choose a longer tenure for a lower EMI?
A longer tenure lowers the EMI but you pay more interest overall, and the car depreciates faster than the loan clears. Keep the tenure as short as you can afford.
Is my data sent anywhere?
No. The calculation runs entirely in your browser; nothing you enter is sent to or stored on a server.