Car loan calculator
Find your car EMI, then the number that matters more: what the car costs once interest is added.
Monthly EMI
₹20,162
- Loan amount
- ₹9,60,000
- Total interest
- ₹2,49,707
- Car costs you in all
- ₹14,49,707
- Principal₹9,60,00079%
- Interest₹2,49,70721%
Repayment schedule
| Year | Principal | Interest | Balance left |
|---|---|---|---|
| 1 | ₹1,57,481 | ₹84,460 | ₹8,02,519 |
| 2 | ₹1,73,111 | ₹68,830 | ₹6,29,408 |
| 3 | ₹1,90,292 | ₹51,650 | ₹4,39,116 |
| 4 | ₹2,09,178 | ₹32,764 | ₹2,29,938 |
| 5 | ₹2,29,938 | ₹12,003 | ₹0 |
How it's worked out
The loan is the on-road price less your down payment. The 'Car costs you in all' figure adds the interest to the price, so you can see the cost of a longer tenure or a smaller down payment.
The formulaEMI = P × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1), where P is the on-road price less the down payment.
Common questions
Should I use the ex-showroom or the on-road price?
The on-road price: it includes road tax, registration and insurance, and it is what you actually pay. Check how much of it your lender will fund.
What tenure makes sense?
Cars lose value as you pay. A shorter tenure costs less interest and lowers the chance of owing more than the car is worth.
More loans calculators
All calculatorsIllustrative figures only, from the numbers you enter and the assumptions stated above. Rates and rules change, so check them with the provider or a qualified adviser before acting. Arthscan is not a SEBI-registered research analyst or investment adviser, and nothing here is investment advice.