Car Loan EMI Calculator — Auto Loan Payment Estimator
Calculate auto loan EMIs, interest payable, and total cost of purchasing your car with bank financing.
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Payment Breakdown (Principal vs Interest)
Interest Rate Sensitivity Comparison
See how small changes in interest rates impact your monthly EMI and total interest outgo.
| Interest Rate | Monthly EMI | Monthly Difference | Total Interest Paid | Total Payment |
|---|---|---|---|---|
| 8.00% | ₹20,276 | -₹482 | ₹2,16,560 | ₹12,16,560 |
| 8.50% | ₹20,517 | -₹241 | ₹2,31,020 | ₹12,31,020 |
| 9.00% (Current) | ₹20,758 | 0 | ₹2,45,480 | ₹12,45,480 |
| 9.50% | ₹21,002 | +₹244 | ₹2,60,120 | ₹12,60,120 |
| 10.00% | ₹21,247 | +₹489 | ₹2,74,820 | ₹12,74,820 |
| 10.50% | ₹21,494 | +₹736 | ₹2,89,640 | ₹12,89,640 |
Loan Repayment & Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Payment | Balance Outstanding | Loan Paid % |
|---|---|---|---|---|---|
| Year 1 | ₹1,65,827 | ₹83,269 | ₹2,49,096 | ₹8,34,173 | 16.6% |
| Year 2 | ₹1,81,381 | ₹67,715 | ₹2,49,096 | ₹6,52,792 | 34.7% |
| Year 3 | ₹1,98,396 | ₹50,700 | ₹2,49,096 | ₹4,54,396 | 54.6% |
| Year 4 | ₹2,17,006 | ₹32,090 | ₹2,49,096 | ₹2,37,390 | 76.3% |
| Year 5 | ₹2,37,390 | ₹11,731 | ₹2,49,121 | ₹0 | 100.0% |
Example: ₹10 Lakh Car Loan for 5 Years at 9.0%
Financing a new car with a ₹10,00,000 auto loan at 9.0% interest for 5 years (60 months).
- Car Loan Amount:₹10,00,000
- Interest Rate:9.00% p.a.
- Tenure:5 Years (60 Months)
- Monthly EMI:₹20,758 / month
- Total Interest Paid:₹2,45,502
- Total Cost of Vehicle Loan:₹12,45,502
Key Takeaway: Cars depreciate rapidly. Choosing a shorter tenure of 3 to 5 years prevents negative equity and saves substantial interest.
How This Calculation Works (Mathematical Formula)
Calculated based on reducing balance method over 1 to 7 years tenure.
Frequently Asked Questions
Car loan tenures in India generally range from 1 to 7 years (12 to 84 months).
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Helpful Guides & Explanations
Disclosure: Ankiva One provides free financial calculators and guides. When you apply for products through partner links on our website, we may receive compensation at no extra cost to you. This does not influence our objective calculations.