Car Loan Calculator
Car & BikeEMI, total interest and the repayment schedule for a car loan.
Runs entirely in your browser — nothing is uploaded
Features
- EMI, total interest and total repayment.
- Amortisation schedule by year or month.
- Interest as a share of what you repay.
- Results update as you type, with no button to press.
How to use the Car Loan Calculator
- 1Enter the loan amount, rate and tenure.
- 2Read the EMI and the total interest.
- 3Check the schedule before choosing a longer term.
Frequently asked questions
What tenure should I choose for a car loan?
The shortest you can comfortably service, usually three to five years. Stretching to seven lowers the EMI but adds substantial interest, and you spend years owing more than the car is worth because it depreciates faster than the loan amortises.
What interest rate is normal on a car loan?
Typically 8.5–12% for a new car from a bank, higher from a dealer-arranged lender, and higher again for a used car. Dealers often quote a low rate while adding it back through the on-road price or accessories, so compare the total cost rather than the rate.
How much should I put down?
At least 20%. A car loses value immediately and steeply, so a small down payment leaves you underwater — owing more than the car would sell for — for much of the term. That matters if the car is written off or you need to sell early.
Is a car loan worth taking at all?
A car is a depreciating asset funded with interest, so it costs twice. It can still be the right call if it enables income or replaces a costlier alternative — but run the Car Running Cost tool before deciding, because the loan is rarely the largest number.