Car Loan EMI CalculatorEMI + graph
Convert a car's on-road price into a realistic monthly EMI and total borrowing cost. Adjust the down payment, rate and tenure to compare finance offers on equal terms.
Highlights
- Uses on-road price rather than ex-showroom price.
- Separates down payment, loan principal and processing fee.
- Shows total interest over the full tenure.
- Visualises falling balance and cumulative interest.
Loan snapshot
- Financed amount
- ₹10,00,000
- Number of EMIs
- 60
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Your price tier
Executive sedan
Car illustration for Executive sedan at ₹12.00 L.
Monthly EMI
₹20.9K
₹20,880 for 60 months
Principal
₹10.00 L
Total interest
₹2.53 L
20.2% of all EMIs
Total of all EMIs
₹12.53 L
Processing fee
₹10.0K
Before taxes and other charges
Loan repayment path
See the outstanding balance fall while cumulative interest rises over the tenure.
How the EMI changes inside
| Payment | Principal | Interest | Balance |
|---|---|---|---|
| First EMI | ₹13,172 | ₹7,708 | ₹9,86,828 |
| Last EMI | ₹20,720 | ₹160 | ₹0 |
Compare car finance by total cost
A low advertised EMI can come from a longer tenure or a balloon payment. Compare loan principal, total interest, processing fee and final payment—not just the monthly number.
Cars depreciate while loan interest accumulates. A meaningful down payment and a tenure that does not outlast your intended ownership can reduce the risk of owing more than the car is worth.
Methodology
- Financed amount equals on-road price minus down payment.
- EMI follows the monthly reducing-balance formula.
- Processing fee is calculated on principal and displayed outside the EMI.
Scope and assumptions
- Interest rate and EMI remain fixed.
- Insurance renewals, fuel, maintenance, taxes and resale value are excluded.
- Dealer subvention, advance EMI and balloon-payment plans need a lender-specific calculation.
FAQ
Is car loan EMI based on ex-showroom or on-road price?
The lender finances an approved amount against the purchase. This calculator starts with on-road price and subtracts your down payment so registration, insurance and other included costs are not overlooked.
How is car loan EMI calculated?
It uses the standard reducing-balance EMI formula with loan principal, monthly interest rate and number of monthly payments.
Does a larger down payment reduce interest?
Yes. A larger down payment reduces the financed principal, which lowers both EMI and total interest when rate and tenure stay the same.
Are processing fees included in the EMI?
No. The estimated fee is shown separately. A lender may collect it upfront, deduct it from disbursal or finance it, and taxes may apply.
What is a good car loan tenure?
The shortest tenure that keeps the EMI comfortably affordable usually minimises interest. Also consider how long you expect to keep the car and how quickly it depreciates.