Plan your car purchase with a down payment, monthly repayment and total purchase outflow.
How to use the Car Loan EMI calculator
Enter the vehicle’s on-road price and your down payment, then the annual rate, repayment period and separately paid fees. Increase the down payment or shorten the term to compare financing costs. After calculating, select Monthly or Annual above the repayment table. Monthly shows each payment period; Annual groups the same payments by repayment year.
- Vehicle price
- Use the price you intend to finance, including relevant on-road charges.
- Down payment
- Cash paid toward the price; it cannot exceed that price.
- Annual rate
- Nominal annual loan rate. It remains unchanged in this model.
- Tenure
- Whole months of EMI repayment.
- Fees
- Initial financing charges paid separately, including taxes.
- Loan effective month
- The month this modeled loan, transfer or prepayment starts. Defaults to the current month in India and can be changed.
Select Calculate, review the result and its breakdown, then change one input at a time to compare scenarios.
Formula and calculation method
The financed principal is the entered price less the down payment. A standard reducing-balance EMI is calculated on that principal. Total purchase outflow combines the down payment, all repayments and entered initial fees.
See the numbers in context
For a ₹12,00,000 on-road price and ₹3,00,000 down payment, the loan is ₹9,00,000. At 9% for 60 months, EMI is approximately ₹18,683 and interest is ₹2,20,951. With ₹5,000 in fees, total purchase outflow is ₹14,25,951.
Illustrative inputs · rounded to the nearest rupeeWhat your result means
Amount financed and EMI describe the loan. Total purchase outflow includes your cash contribution; it is not the vehicle’s running cost or future resale value.
Scenarios worth comparing
- Change one assumption at a time to understand its effect on payments and total cost.
- Compare a shorter term with the cash-flow flexibility of a longer term.
- Use the complete rate and fee quote rather than an advertised starting rate.
Assumptions and limitations
- Rates are constant nominal annual rates, with monthly reducing-balance interest and month-end EMI payments. At zero interest, EMI equals repayment principal divided by months.
- The schedule uses exact values internally and rounds displayed rupee amounts. Lender rounding, payment dates and daily accrual may differ.
- Only the entered upfront fees are included. Tax benefits, rate resets, missed payments, future fees and insurance are excluded.
- Charges and permission to transfer or prepay depend on your contract and applicable rules. The tool does not determine lender eligibility or fee legality.
- The first EMI is assumed in the month after the selected effective month, following any education-loan moratorium. End month includes the full repayment term; a prepayment can bring it forward. Calendar choices do not change the modeled EMI or interest.
Frequently asked questions
Does a larger down payment reduce interest?
At the same rate and term, a smaller loan reduces EMI and total interest. Compare that benefit with the cash you need to keep available.
Are insurance and registration included?
Only if included in your entered price. Do not count them again as fees. Renewals, maintenance, fuel and resale value are excluded.
Can I enter a fully paid purchase?
Yes. If down payment equals the price, the result is zero EMI and no loan is required.
Educational estimates only. Verify inputs, applicable rules and product terms before making decisions. Read the disclaimer.