🚗 Car Loan EMI Calculator

Calculate your Car Loan EMI instantly with our free online calculator. Get detailed payment schedule, total interest payable and plan your vehicle purchase effectively.

Car Loan Details

₹12,00,000
₹2L ₹50L
16.7%
₹0 ₹10L
₹10,00,000
Car Price - Down Payment
%
7% 18%
Years
1Y 7Y
Arrears: Pay at month end | Advance: Pay at month beginning

Car Loan EMI Results

Monthly EMI

₹16,988

Total Interest Payable

₹4,26,967

Total Payment

₹14,26,967

Payment Breakdown

Principal: 70.1%
Interest: 29.9%

🚗 Car Loan Insights

Your EMI is ₹16,988 per month. You'll pay ₹4,26,967 as interest over 7 years.
Recommended monthly income: ₹42,470 for comfortable repayment.

Annual Payment Schedule

Detailed Payment Schedule

Click on any year row to expand monthly details
Year/Month EMI Payment Principal Interest Balance

🚗 Car Loan Benefits

  • • Quick approval process
  • • Competitive interest rates
  • • Flexible repayment tenure
  • • No collateral required

💰 Save on Interest

  • • Choose shorter loan tenure
  • • Make higher down payment
  • • Compare rates from multiple lenders
  • • Consider prepayment options

📋 Documentation

  • • Income proof & bank statements
  • • Identity & address proof
  • • Vehicle registration documents
  • • Insurance & RC copy

Car Loan EMI Calculator - Complete Guide

How Does Car Loan EMI Calculator Work?

Our Car Loan EMI Calculator helps you calculate the monthly installment for your car loan based on vehicle price, down payment, interest rate, and tenure. The calculator automatically determines the loan amount after considering your down payment.

Car Loan EMI Formula

EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]

Where P = Principal loan amount, r = Monthly interest rate, n = Number of months

Benefits of Using Car Loan EMI Calculator

  • • Budget Planning: Know exact monthly commitment before purchase
  • • Compare Offers: Evaluate different loan terms and down payments
  • • Interest Calculation: Understand total interest payable
  • • Prepayment Planning: See impact of early payments

Car Loan Eligibility Factors

Income Criteria

Minimum ₹15,000/month for salaried, ₹1.5L+ annual income for self-employed

Age Limit

21-65 years for salaried, 25-65 years for self-employed

Credit Score

Minimum 650+ for approval, 750+ for best rates

Down Payment

Minimum 10-20% of vehicle value required