Car Loan Calculator
Calculate your Car Loan EMI and check total interest payable over the tenure.
Car loans typically range from 1 to 7 years.
Monthly EMI
₹16,801
Principal Amount
₹8,00,000
Total Interest
₹2,08,089
Total Payment
₹10,08,089
How the Car Loan Calculator works
This calculator computes your car loan EMI and total cost from the on-road price, down payment, interest rate and tenure. A larger down payment or shorter tenure lowers the total interest you pay.
Car loans are typically shorter than home loans (3–7 years) and use the same reducing-balance EMI formula.
EMI formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
P = loan amount (price − down payment), r = monthly rate, n = months.
Frequently asked questions
How does the down payment affect my car loan?+
A bigger down payment reduces the loan amount, lowering both your EMI and the total interest paid.
What tenure should I pick for a car loan?+
Shorter tenures mean higher EMIs but far less total interest. Pick the shortest EMI you can comfortably afford.
Can I prepay a car loan?+
Usually yes, though some lenders charge a prepayment fee. Prepaying early saves the most interest.