What is Car Loan EMI?
Car Loan EMI Calculator for new and used car purchases. Interest rates 8.5-14% in India.
Use our Car Loan EMI to get accurate results instantly. You may also want to explore our EMI Calculator or Home Loan EMI.
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Calculate your car loan EMI instantly. Free auto loan calculator with amortization schedule for new and used car purchases.
Quick and accurate loan calculations for India
Your Equated Monthly Installment (EMI) consists of two parts: the Principal amount and the Interest charged by the bank.
In the early years of your loan, a larger portion of your EMI goes towards interest. As you progress, the principal component increases.
The EMI Formula
Reduces total interest paid, though monthly EMI will be higher.
A higher down payment reduces the loan amount and interest burden.
Partial prepayments directly reduce the principal and total tenure.
A score above 750 can help you negotiate lower interest rates.
Car Loan EMI Calculator for new and used car purchases. Interest rates 8.5-14% in India.
Use our Car Loan EMI to get accurate results instantly. You may also want to explore our EMI Calculator or Home Loan EMI.
The calculator applies the standard EMI formula to compute monthly payments and shows the amortization schedule with principal and interest breakdown.
Enter your values
Input your car loan emi parameters including principal amount, interest rate, and tenure.
Adjust parameters
Use the sliders or numeric inputs to fine-tune your values for accurate results.
View results
Your results update in real-time showing EMI, total interest, and total payment.
Explore details
Check the amortization schedule, charts, and download the PDF report for your records.
Where: E = EMI, P = Car loan amount, r = Monthly interest rate, n = Number of monthly installments
1Monthly rate: 9/12/100 = 0.0075
2EMI = ₹20,758 per month
3Total payment: ₹12,45,480
4Total interest: ₹2,45,480
Monthly EMI: ₹20,758
Our Car Loan EMI uses the standard formula adopted by all major Indian banks and financial institutions. The calculation engine processes your inputs in real-time with 99.9% accuracy. All formulas are verified against official bank calculation methods and regulatory guidelines.
Last reviewed: 2026-06-14. We update our calculations whenever regulatory changes occur (tax slabs, interest rates, TDS rules, etc.).
Find answers to common questions about this calculator below.
For a ₹10 lakh car loan at 9% interest for 5 years (60 months), the EMI is approximately ₹20,758 per month. The total interest paid would be ₹2,45,480.
Most banks in India offer car loan tenures up to 7 years (84 months) for new cars and up to 5 years (60 months) for used cars.
Car loan interest rates in India range from 8.5% to 14% depending on the lender, your credit score, and whether it is a new or used car. New car loans are typically 1-2% cheaper than used car loans.
At 9.5% for 5 years: ₹21,004/month. Total interest ₹2,60,240.
New: 8.5-11%. Used: 11-14%. EVs 0.25-0.5% lower.
5-7 years new, 3-5 years used.
750+ best rates. 650-749 higher rates. Below 650 difficult.
15-30% new, 25-40% used.
Compare loan rate vs investment returns. Pay cash if loan > returns.