Car Loan Calculator

Calculate car loan EMI, total interest, and loan eligibility for vehicle financing in India

Car Loan EMI

₹0 Monthly EMI
₹0 Loan Amount
₹0 Total Interest
Total Amount Payable: ₹0
Down Payment %: 0%
Loan-to-Value: 0%

Car Affordability

₹0 Affordable Car Price
₹0 Max Loan Amount
₹0 Affordable EMI
FOIR Ratio: 0%
Surplus Income: ₹0
Loan Eligibility: --

Bank A

Bank B

Loan Comparison

₹0 Savings with Better Option
₹0 Bank A Total Cost
₹0 Bank B Total Cost
Better Option: --
EMI Difference: ₹0
Interest Savings: ₹0

How to Use the Car Loan Calculator

Our comprehensive car loan calculator provides essential tools for vehicle financing planning in India:

🚗 EMI Calculator

Calculate your monthly car loan EMI based on car price, down payment, interest rate, and tenure. Get detailed breakdown of loan amount, total interest, and overall cost.

💰 Car Affordability Calculator

Determine what car you can afford based on your income, expenses, and existing EMIs. Calculate maximum loan eligibility and affordable EMI based on FOIR ratios.

⚖️ Loan Comparison Tool

Compare car loan offers from different banks and financial institutions. Analyze total costs, EMI differences, and potential savings to choose the best loan option.

Car loan tips: New car loans offer up to 85-90% financing, while used car loans provide 80-85% financing. Interest rates vary from 7.5% to 15% based on credit profile.

Frequently Asked Questions

What is the typical interest rate for car loans in India?
Car loan interest rates in India typically range from 7.5% to 15% per annum for new cars and 9% to 17% for used cars. Rates depend on your credit score, income, loan amount, and lender policies.
How much down payment is required for a car loan?
For new cars, you need to pay 10-15% as down payment (banks finance up to 85-90%). For used cars, down payment is 15-20% (banks finance up to 80-85% of the car's current market value).
What is the maximum loan tenure for car loans?
New car loans can have tenure up to 7 years, while used car loans typically have maximum tenure of 5 years. Longer tenures reduce EMI but increase total interest paid.
What documents are required for a car loan?
Required documents include identity proof (Aadhaar/PAN), address proof, income proof (salary slips/ITR), bank statements (3-6 months), car quotation/invoice, and insurance documents.
Can I prepay my car loan without penalty?
Most banks allow car loan prepayment after 6-12 months. Some charge prepayment penalties of 2-5% of outstanding amount, while others offer penalty-free prepayment options.