Car Loan EMI Calculator
Plan your car purchase with detailed EMI and cost breakdown.
On-road price including all charges
Typically 10-25% of car price
7%15%
1 year7 years
Car Price₹10.00 L
Down Payment-₹2.00 L
Loan Amount₹8.00 L
LTV Ratio80.0%
Monthly EMI
₹16,607
for 5 years (60 months)
Loan Amount
₹8.00 L
Total Interest
₹1.96 L
Processing Fee
₹8,000
Total Cost
₹12.04 L
Total Cost Breakdown
Car Price (83.0%)Interest (16.3%)Fees (0.7%)
Year-wise Payment Schedule
| Year | Principal Paid | Interest Paid | Outstanding |
|---|---|---|---|
| Year 1 | ₹1.33 L | ₹66,616 | ₹6.67 L |
| Year 2 | ₹1.45 L | ₹54,171 | ₹5.22 L |
| Year 3 | ₹1.59 L | ₹40,559 | ₹3.64 L |
| Year 4 | ₹1.74 L | ₹25,670 | ₹1.90 L |
| Year 5 | ₹1.90 L | ₹9,384 | ₹0 |
First 12 Months Breakdown
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹16,607 | ₹10,607 | ₹6,000 | ₹7.89 L |
| 2 | ₹16,607 | ₹10,686 | ₹5,920 | ₹7.79 L |
| 3 | ₹16,607 | ₹10,766 | ₹5,840 | ₹7.68 L |
| 4 | ₹16,607 | ₹10,847 | ₹5,760 | ₹7.57 L |
| 5 | ₹16,607 | ₹10,928 | ₹5,678 | ₹7.46 L |
| 6 | ₹16,607 | ₹11,010 | ₹5,596 | ₹7.35 L |
| 7 | ₹16,607 | ₹11,093 | ₹5,514 | ₹7.24 L |
| 8 | ₹16,607 | ₹11,176 | ₹5,430 | ₹7.13 L |
| 9 | ₹16,607 | ₹11,260 | ₹5,347 | ₹7.02 L |
| 10 | ₹16,607 | ₹11,344 | ₹5,262 | ₹6.90 L |
| 11 | ₹16,607 | ₹11,430 | ₹5,177 | ₹6.79 L |
| 12 | ₹16,607 | ₹11,515 | ₹5,091 | ₹6.67 L |
Car Loan Tips
Down Payment
A higher down payment reduces your loan amount and total interest. Most banks require 10-25% down payment. New car loans usually have lower rates than used car loans.
Loan Tenure
Longer tenure means lower EMI but higher total interest. Choose a tenure that balances affordability with total cost. Most car loans are for 3-7 years.
Additional Costs
- Insurance (mandatory)
- Road tax & registration
- Processing fee (0.5-2%)
- Documentation charges