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Car Loan EMI Calculator
Estimate the monthly EMI for a car loan and the total amount you would repay.
Estimate car loan EMI and total repayment cost.
Free to run · to save projections to your live dashboard
Enter values and click Calculate to see results
Worked example
Calculated by the same engine as the calculator above.
- Inputs
- Loan Amount
- ₹12,00,000
- Interest Rate (% p.a.)
- 9
- Loan Tenure (Years)
- 7
- Result
- Monthly EMI
- ₹19,307
- Total Interest
- ₹4,21,779
- Total Payment
- ₹16,21,779
Formula
EMI = P × i × (1 + i)^n / ((1 + i)^n - 1)
- P = loan amount (principal)
- i = annual interest rate / 12 / 100 (monthly rate)
- n = tenure in years × 12 (number of monthly instalments)
- Total payment = EMI × n; total interest = total payment - P
Assumptions
- Uses the standard reducing-balance EMI formula with a fixed interest rate for the whole tenure.
- Interest is charged monthly at the annual rate divided by 12.
- Down payment, insurance, registration and processing fees are not included.
- At a 0% rate the EMI is the loan amount divided by the number of months.
- Educational estimate only, not financial advice. Capitallytics does not execute transactions.
Car Loan EMI Calculator FAQ
Answers about how this calculator works.
What loan amount should I enter for a car?
Enter the on-road price minus your down payment. Insurance and registration are often paid separately and are not included.
How does tenure affect a car loan?
Longer tenures lower the EMI but increase total interest, while the car loses value over time. Compare a few tenures before deciding.
Can I use this for a used car loan?
Yes. The maths is the same; enter the rate and tenure your lender quotes for the used car.
Does a 0% finance offer work in this calculator?
Yes. Enter 0% and the EMI becomes the loan amount divided by the months. Check for processing fees or a higher price that may offset the 0% rate.