Car Loan Calculator

Buying a car? Use our Car EMI Calculator to find out how much you’ll pay every month. With 4th largest market for 4-wheelers globally, with a steady 9.5% YoY growth — making a reliable Car Loan EMI Calculator more important than ever.

Just enter your loan amount, interest rate, and tenure to calculate car loan EMI instantly.

Whether you’re planning to buy a new car, a used car, or exploring auto loan EMI calculator options, this tool is all you need for quick, accurate results.

How Can a Car Loan EMI Calculator Help You?

• Real-Time EMI Estimates
  As you adjust values like loan amount, interest rate, or loan tenure, the calculator instantly updates your EMI without needing to click any button.
• Accurate and Reliable Calculations
  The tool follows a fixed mathematical formula to deliver precise EMI figures, removing the risk of manual errors.
• Helps You Plan Monthly Expenses
  Knowing your EMI in advance makes it easier to manage your monthly finances and choose a repayment structure that suits your income.
• Compare Loan Scenarios Easily
  You can explore different combinations of loan terms to find an option that fits your needs—whether you’re planning a short-term loan or a longer repayment plan.
• Clear View of Total Payable Amount
  Along with EMI, you also get a breakdown of the total repayment and interest cost, giving you full transparency before taking a loan.

How Is Car Loan EMI Calculated?

A car loan EMI (Equated Monthly Installment) is the fixed amount you pay every month toward your loan. It’s calculated using your loan amount, interest rate, and repayment tenure. These factors are applied in a standard formula to estimate your monthly obligation, helping you plan your budget and compare loan offers effectively.

Formula to Calculate Car Loan EMI

EMI=(1+R)N−1P×R×(1+R)N​

This formula provides the EMI amount that remains consistent over the entire loan period.

Components of the EMI Formula

Example for Better Understanding

Suppose you’re planning to take a car loan of ₹10,00,000 for a term of 5 years, and the annual interest rate is 9%.

• Loan Amount (P): ₹10,00,000
• Monthly Interest Rate (R): 0.0075 (calculated as 9 ÷ 12 ÷ 100)
• Loan Tenure (N): 60 months (5 years × 12)

Now applying the formula:

EMI=10,00,000×0.0075×(1+0.0075)60(1+0.0075)60−1EMI = \frac{10,00,000 \times 0.0075 \times (1 + 0.0075)^{60}}{(1 + 0.0075)^{60} – 1}EMI=(1+0.0075)60−110,00,000×0.0075×(1+0.0075)60​

The EMI works out to approximately ₹20,759 per month.

What You Should Know

• Your EMI amount stays the same every month, which simplifies planning and budgeting.
• In the early stages of your loan, a larger portion of the EMI goes toward interest. As the loan progresses, more of it is allocated to repaying the principal.
• Knowing how EMI is calculated helps you make informed choices and understand the true cost of your loan.

How to Use the Car Loan EMI Calculator

Using our Car Loan EMI Calculator is quick and simple:

• Loan Amount: Adjust the amount using the slider or enter it manually—options like ₹5 lakh, ₹10 lakh, or any custom value.
  
• Interest Rate: Use the slider or type in your annual rate (e.g., 9%).
  
• Loan Tenure: Choose your loan period—typically from 1 to 7 years—using the slider or by entering the months manually.

The calculator works instantly—no need to click any button. As you change values, your EMI, total interest, and total repayment are updated in real time.

Why Use Our Car EMI Calculator?

• Plan Your EMIs in Advance
  Know exactly how much you’ll pay each month and adjust your loan details to match your financial comfort.
  

• User-Friendly Design Across All Devices
  The calculator works smoothly on mobiles, tablets, and desktops—no app or installation needed.
  

• Fits Every Car Loan Need
  Whether you’re financing a new car, a pre-owned vehicle, or taking an auto loan, the tool adapts to all scenarios.
  

• Reliable and Real-Time Results
  Built on a trusted EMI formula, the calculator updates instantly as you change the amount, rate, or tenure—ensuring accuracy every time.

Sample Loan EMI Table

Use our calculator to get your personalized EMI results.

Car Loan Options You Can Estimate

Explore real-world scenarios using this tool:

• 8 lakh car loan EMI for 5 years
  
• 10 lakh car loan EMI for 7 years
  
• 15 lakh car loan EMI
  
• 20 lakh car loan EMI
  
• 5 lakh car loan EMI

Works seamlessly as a used car loan EMI calculator too

Explore More Financial Tools

•  Home Loan EMI Calculator – For property or housing finance planning
•  Personal Loan EMI Calculator – Quick estimates for unsecured loans
•  SIP Calculator – Plan long-term investments easily
•  Bike Loan Calculator – Coming soon!