Car Loan Calculator
Estimate car-loan EMI and total cost.
About this tool
This car-loan calculator estimates the EMI and interest on the amount financed for a vehicle. Enter the loan amount after accounting for your down payment, and use the interest rate and tenure offered by the lender.
How to use this calculator
- Enter the financed loan amount.
- Enter the annual interest rate and term in years.
- Calculate estimated EMI and total interest; include fees and vehicle ownership costs in your wider budget.
Formula
Worked example
For a ₹5,00,000 car loan over 5 years, the tool calculates 60 monthly instalments using the rate entered. The exact payment depends on lender terms.
Frequently asked questions
Should I enter the car’s on-road price?
Enter the amount you actually plan to borrow. If you pay a down payment, the loan principal may be less than the on-road price.
Does a shorter car loan save interest?
Usually, a shorter tenure reduces total interest but increases the monthly EMI.
Does this include insurance and registration?
No. The calculator estimates loan repayments only. Insurance, registration, fuel, maintenance and fees are separate costs.
Can I use it to compare lenders?
Yes, as a first comparison, but compare the same principal and tenure and include processing fees, rate type and other conditions.
SolveKit provides general calculations for information and planning. Results depend on the values and assumptions entered. For financial, investment, payroll or tax decisions, confirm the applicable product terms and current rules with an authoritative source or qualified professional.