Calculate car loan EMI with vehicle presets, down payment, processing fees, and total cost breakdown. Free auto loan calculator for India.
Step-by-step guide to get the most from this tool
Choose hatchback, sedan, SUV, or electric vehicle preset or enter custom on-road price.
Adjust down payment percentage to see loan amount.
Configure interest rate, tenure, and processing fee.
See monthly EMI, interest paid, and total cost including down payment and fees.
What makes this tool stand out
Hatchback, sedan, SUV, and EV quick-start templates.
Slider to adjust financing amount.
Principal, interest, and fees pie chart.
See full cost including down payment and fees.
Electric vehicle preset with typical EV loan rates.
Typical Indian auto loan rates and tenures.
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Quick answers to common questions
Car loan EMI uses the standard reducing balance formula on the loan amount (on-road price minus down payment). Shorter tenures (3–7 years) are typical for vehicle loans.
Most banks finance 80–90% of on-road price. A 15–20% down payment is standard. EV loans may offer up to 90% financing with lower rates under some schemes.
Car loan rates in India range from 8.5% to 12% depending on credit score, lender, and whether the car is new or used. EV loans may have subsidized rates around 8–9%.
Car loans are usually 3–7 years. Longer tenure means lower EMI but more total interest. Cars depreciate quickly, so shorter tenure is often recommended.
For salaried individuals, car loan interest is generally not tax deductible unless the car is used for business purposes. Business owners may claim interest as a business expense.
On-road price includes ex-showroom price, road tax, registration, insurance, and handling charges. Always use on-road price, not ex-showroom, for accurate EMI calculation.
Most banks allow prepayment on car loans. Floating rate loans typically have no penalty. Check your loan agreement for prepayment terms.
Used car loans carry higher interest rates (10–15%) and shorter maximum tenure (5 years). New car loans offer better rates and longer tenures.
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