Car Loan EMI Calculator

A car loan EMI calculator shows the monthly instalment for financing a vehicle and the total interest over the loan. It's most useful at the dealership, where offers are quoted as an attractive monthly figure and it's easy to lose sight of the total cost.

Enter the amount you'll borrow after your down payment, the interest rate and a tenure between one and eight years. The calculator shows the EMI, total interest and a year-by-year table of what you still owe, so you can compare a bank loan with dealer financing, or see what a bigger down payment saves.

A car loses value from the day it leaves the showroom, so stretching the loan for seven or eight years can leave you owing more than the car is worth. Choosing the shortest tenure whose EMI you can manage keeps both the interest and that risk down.

Car loans in India are usually fixed-rate, so the EMI stays the same for the whole tenure. Dealer offers sometimes advertise a low rate but add processing fees or insurance into the loan; compare the total repaid, not only the rate.