Car Loan EMI Calculator

Calculate your monthly EMI for car loans, auto financing, and vehicle purchases

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Calculate Your Car Loan EMI

Select your preferred currency
Range: ₹1,000 - ₹1,00,00,000
Percentage of car price paid upfront
Typically 0.5% - 2%
Comprehensive insurance if included in EMI
If set, EMI will be lower and a large final payment is due
Range: 1% - 30% per annum
Range: 1 - 84 months (1 month to 7 years)
Monthly EMI
₹0
Total Interest
₹0
Total Amount
₹0
Loan Summary
Principal Amount: ₹0
Interest Amount: ₹0
Amortization Schedule
Month EMI Principal Interest Balance

Car Loan EMI Calculator: Everything You Need to Know

What is a Car Loan EMI?

A Car Loan EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month for a car or vehicle loan. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Factors Affecting Car Loan EMI

  • Loan Amount: The principal amount borrowed for purchasing the vehicle.
  • Interest Rate: The rate at which interest is charged on the loan amount.
  • Loan Tenure: The duration for which the loan is taken, typically ranging from 1 to 7 years.
  • Down Payment: A higher down payment reduces the loan amount, resulting in lower EMIs.
  • Processing Fees: One-time fees charged by lenders for processing the loan application.
  • Balloon Payment: An optional larger payment at the end of the loan term that reduces regular EMIs.

Types of Car Loans

New Car Loans

Loans specifically designed for purchasing new vehicles, typically with lower interest rates.

Used Car Loans

Loans for purchasing pre-owned vehicles, usually with slightly higher interest rates.

Refinancing Loans

Loans that replace an existing car loan, often to secure better terms or lower interest rates.

Lease Buyout Loans

Loans that help you purchase a car that you've been leasing when the lease term ends.

Tips for Getting the Best Car Loan

  1. Check your credit score before applying for a loan, as a higher score can help you secure better interest rates.
  2. Compare offers from multiple lenders to find the best interest rates and terms.
  3. Consider making a larger down payment to reduce the loan amount and EMI.
  4. Choose a shorter loan tenure if you can afford higher EMIs, as this will reduce the total interest paid.
  5. Read the fine print for any hidden charges or prepayment penalties.