Auto Loan / Car Loan Calculator

An auto loan calculator helps you understand the true cost of financing a vehicle - the monthly payment, total interest paid over the life of the loan, and the full amortization schedule showing how each payment is split between principal and interest.

₹15,00,000
₹
₹3,00,000
₹

Amount paid upfront.

9%
%
months
Monthly payment
₹24,910
Loan amount
₹12,00,000
Total interest
₹2,94,602
Total payment
₹14,94,602
  • Principal
  • Interest

Amortization schedule

MonthPrincipalInterestBalance
1₹15,910₹9,000₹11,84,090
2₹16,029₹8,881₹11,68,061
3₹16,150₹8,760₹11,51,911
4₹16,271₹8,639₹11,35,640
5₹16,393₹8,517₹11,19,248
6₹16,516₹8,394₹11,02,732
7₹16,640₹8,270₹10,86,092
8₹16,764₹8,146₹10,69,328
9₹16,890₹8,020₹10,52,438
10₹17,017₹7,893₹10,35,421
11₹17,144₹7,766₹10,18,277
12₹17,273₹7,637₹10,01,004

How to calculate a car loan EMI

The loan amount is the vehicle price minus your down payment and any trade-in value. Monthly payments are calculated using the standard loan amortization formula, where early payments are mostly interest and later ones are mostly principal.

Formula
Loan = Price - Down payment - Trade-in | Payment = EMI(loan, rate, months)

Example. A 15,00,000 car with a 3,00,000 down payment at 9% over 60 months gives a loan of 12,00,000 and a monthly payment of about 24,893.

Frequently asked questions

How does a trade-in reduce my loan?

A trade-in is the value your dealer gives you for your current vehicle, applied directly against the purchase price. It reduces the amount you need to finance, lowering your monthly payment and total interest.

Should I choose a longer or shorter loan tenure?

A shorter tenure means higher monthly payments but less total interest. A longer tenure lowers the monthly burden but costs more overall. Choose the shortest tenure your budget comfortably allows.

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