Car Loan EMI Calculator

Enter the on-road price and your down payment to see the loan needed, the EMI, the interest you will pay and what the car finally costs you. It works the same way for bikes and scooters.

Ex-showroom price plus road tax, registration and insurance. Works for bikes and scooters too.
Tenure in
Results update as you type.

Monthly EMI

₹16,607

60 payments of ₹16,606.68

Loan amount
₹8,00,00080% of the on-road price
Total interest
₹1,96,4011.96 lakh
Total cost of the vehicle
₹11,96,401price + interest
Income for a comfortable EMI
₹1,10,711 a monthkeeping the EMI within 15% of take-home pay

What the vehicle costs you

  • Down payment₹2,00,00016.7%
  • Loan principal₹8,00,00066.9%
  • Interest₹1,96,40116.4%
Year-by-year repayment schedule
Year-by-year repayment schedule
YearPrincipal paidInterest paidBalance left
1₹1,32,664₹66,616₹6,67,336
2₹1,45,109₹54,171₹5,22,227
3₹1,58,721₹40,559₹3,63,506
4₹1,73,610₹25,670₹1,89,896
5₹1,89,896₹9,384₹0

About this calculator

A larger down payment or shorter tenure cuts the interest. A common rule is to keep the car EMI within about 15% of your monthly take-home pay.

How to use it

  1. Enter the on-road price and down payment.
  2. Enter the interest rate and tenure.
  3. Read the EMI and the total cost.

The formula

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P
loan amount
r
monthly interest rate: yearly rate ÷ 12 ÷ 100
n
number of monthly instalments

Worked example

₹10 lakh car, ₹2 lakh down, 9% for 5 years

  1. Loan = ₹8 lakh; EMI = ₹16,607.
  2. Interest = ₹1.96 lakh, so the car costs ₹11.96 lakh in all.

What the result means

A car loses value every year, so a 7-year loan can leave you owing more than the car is worth for a while.

Assumptions

  • A fixed interest rate on the reducing balance.

Limitations

  • Insurance renewals, fuel and maintenance are not included.

Frequently asked questions

How much down payment should I make?

At least 20% is a good target. Lenders may fund up to 90% or even 100% of the on-road price, at a higher cost to you.

What tenure is best?

Three to five years suits most buyers. Longer tenures lower the EMI but raise the interest.

What is the 20/4/10 rule?

20% down, a loan of 4 years or less, and total car costs within 10% of income. It is a cautious guide, not a rule.

For information only. This calculator gives estimates based on the figures you enter and the assumptions listed above. It is not financial advice. Actual amounts depend on the lender’s or institution’s terms, fees, rounding and rate changes. Please confirm with them before you decide.

Last reviewed on 7 October 2026. Found a mistake? Tell us.