Car Loan Calculator
Calculate your car loan EMI and total cost
20,00050,00,00,000
Lowest interest rates, full financing available
0carPrice * 5
Down Payment: 20.0% of car price | Loan Amount: ₹800,000
0.7180
Typical rates: New cars 8.5-10%, Used cars 10-13%, Electric cars 7.5-9%
0.170
Maximum tenure: New cars up to 7 years, Used cars up to 5 years
50010,00,000
1,00020,00,000
Comprehensive car insurance (mandatory for loan)
Car Loan Details
Monthly EMI:₹0
Loan Amount:₹0
Total Interest:₹0
Total Amount:₹0
Total Car Cost:₹0
Total Cost Breakdown
Car Price₹1,000,000
Interest Amount₹0
Processing Fee₹15,000
Insurance₹25,000
Affordability Analysis
Monthly EMI:₹0
Recommended Income:₹0
EMI-to-Income Ratio:0%
Loan-to-Value:0.0%
Tip: Car loan EMI should not exceed 20% of monthly income for healthy finances.
EMI Schedule Preview
Year 1:
Outstanding: ₹0
Principal: ₹0 | Interest: ₹0
Year 2:
Outstanding: ₹0
Principal: ₹0 | Interest: ₹0
Year 3:
Outstanding: ₹0
Principal: ₹0 | Interest: ₹0
Year 4:
Outstanding: ₹0
Principal: ₹0 | Interest: ₹0
Year 5:
Outstanding: ₹0
Principal: ₹0 | Interest: ₹0
Car Loan Tips
- • Compare rates from banks, NBFCs, and dealers
- • Higher down payment reduces EMI burden
- • Consider total cost including insurance and maintenance
- • New cars get better rates than used cars
- • Prepayment reduces total interest burden
Interest Rate Impact Analysis
| Interest Rate | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|
| 8% | ₹0 | ₹0 | ₹0 |
| 9% | ₹0 | ₹0 | ₹0 |
| 10% | ₹0 | ₹0 | ₹0 |
| 11% | ₹0 | ₹0 | ₹0 |
| 12% | ₹0 | ₹0 | ₹0 |
| 13% | ₹0 | ₹0 | ₹0 |
Car Purchase Financial Checklist
Before Buying:
- • Check credit score (750+ for best rates)
- • Calculate total cost of ownership
- • Compare loan rates from multiple lenders
- • Plan for down payment (20-30% recommended)
- • Factor in insurance, maintenance, fuel costs
- • Ensure stable income for EMI payments
Cost Considerations:
- • Monthly EMI: ₹0
- • Annual insurance: ₹25,000
- • Maintenance (estimate): ₹20,000/year
- • Fuel costs based on usage
- • Parking, tolls, and other charges
- • Depreciation: 15-20% annually
Car Loan Rates by Category
New Cars
8.5-10%
Up to 100% financing, 7 years tenure
Used Cars
10-13%
Up to 80% financing, 5 years tenure
Electric Cars
7.5-9%
Special rates, government incentives