Car Loan EMI Calculator
Calculate the monthly EMI, total interest, and total repayment for a car loan.
- Free to use
- Accurate results
- No registration required
- Works on all devices
Enter your car loan amount, interest rate, and tenure to calculate your monthly EMI and total interest.
₹
%
New-car loan rates in India typically range 8-11% p.a.; used-car loans run higher.Your result
₹16,606.68
Monthly EMI
Total interest payable₹1,96,400.80
Total repayment₹9,96,400.80
AI explanation
Formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n is the tenure in monthsWorked example
₹8,00,000 at 9% for 5 years
| Field | Value |
|---|---|
| Car loan amount | 800000 |
| Interest rate (per annum) | 9 |
| Loan tenure (months) | 60 |
| Monthly EMI | 16606.68 |
| Total interest payable | 196400.8 |
| Total repayment | 996400.8 |
Assumptions
- Assumes a fixed interest rate for the full tenure (no rate resets).
- Does not include processing fees, insurance, or other loan charges lenders may add.
Frequently asked questions
What down payment should I plan for a car loan?
Most lenders finance 80-90% of the on-road price, so plan for at least a 10-20% down payment — a larger down payment reduces your EMI and total interest paid.
Does a longer tenure always mean lower EMI?
Yes, but it increases total interest paid — a longer tenure spreads the same principal over more months, lowering each EMI but increasing the cumulative interest cost.
How is this different from the Vehicle Loan Calculator?
Same underlying EMI math — this page is specifically for cars, matching how people actually search when comparing car loan offers.