Car Loan Calculator
Calculate car loan EMI with down payment options
Loan Details
20.0% of car price • Recommended: 20-30%
Typical range: 8% - 12% p.a.
Pro Tips:
• Higher down payment = Lower EMI + Less interest
• Consider insurance and RTO costs (~15-20% extra)
• Pre-approved loans often have better rates
Lending and deposit conventions — set by Reserve Bank of India. Last verified .
The reducing-balance EMI convention and quarterly compounding on recurring deposits. Interest rates are your input — they are set by individual lenders and banks.
On-road price includes insurance, registration and accessories that a lender may or may not finance. Confirm the loan-to-value the dealer is actually offering.
Check the sourceMonthly EMI
Cost Breakdown
Payment Breakdown
Down Payment Impact:
Understanding Car Loans
A car loan is a secured loan where the vehicle itself acts as collateral. This makes interest rates lower compared to personal loans. Banks typically finance 80-90% of the car's ex-showroom price.
On-Road Price includes: Ex-showroom price + Registration charges + Road Tax + Insurance + Accessories. This is typically 15-20% higher than ex-showroom price.
Most lenders require a down payment of 10-20% of the vehicle price. Higher down payment reduces your EMI burden and total interest outgo.
Smart Car Buying Tips
- •Negotiate car price before discussing loan - dealers earn commission on loans
- •Compare interest rates from banks, NBFCs, and manufacturer finance
- •Check for prepayment penalties - some loans allow free foreclosure
- •Budget for annual maintenance (~₹15,000-50,000 depending on car)
- •Don't stretch tenure beyond 5 years - car depreciation exceeds loan value
- •EMI shouldn't exceed 15-20% of your monthly income
Related Tools
Every formula, convention and source behind these calculators is written down. Read the methodology — including what BullTimes deliberately will not do. We take no commission on anything, and recommend nothing.