Car Loan Calculator
Find the exact monthly payment for your dream car. Our Car Loan Calculator computes EMI, total interest, and the full repayment schedule instantly.
Loan Amount
₹8,00,000
Monthly EMI
₹16,801
Total Interest
₹2,08,089
Total Amount Payable
₹10,08,089
Car Loan EMI
EMI = P × r × (1+r)^n / ((1+r)^n - 1) Standard reducing balance formula.
Examples
₹8L car, 9.5%, 5 years
Result: EMI: ₹16,768 | Total Interest: ₹2.06L
Popular mid-range car loan scenario.
₹15L car, 9%, 7 years
Result: EMI: ₹24,021 | Total Interest: ₹5.18L
Higher tenure reduces EMI but increases total interest.
₹3L used car, 12%, 3 years
Result: EMI: ₹9,963 | Total Interest: ₹58,668
Used car loans typically have higher interest rates.
Frequently Asked Questions
What is a good car loan interest rate?
Car loan rates typically range from 8.5–14% depending on the lender, loan amount, and credit score. Banks generally offer lower rates than NBFCs.
Should I choose longer or shorter tenure?
Shorter tenure saves interest but increases EMI. Match your tenure to a comfortable EMI that doesn't exceed 20–30% of your monthly income.