Car Loan EMI Calculator
Calculate car-loan EMI and total borrowing cost. Enter your loan amount, annual interest rate and loan term to estimate the monthly EMI, total interest and total repayment.
Enter the total purchase price of the car.
The upfront amount paid toward the car.
Automatically calculated as car price minus down payment. You can also adjust it manually.
Annual interest rate charged on the car loan.
The number of years used to repay the car loan.
Optional lender processing fee added to the overall borrowing cost.
Enter how many additional regular EMIs you plan to pay each year. Use 0 for no extra EMI.
Optional extra lump-sum amount paid once each year toward the loan principal.
Enhanced loan analysis
The calculator estimates your EMI and borrowing cost, then shows how extra EMIs and annual prepayments could shorten the loan and reduce interest.
Extra EMI & Prepayment Savings
Extra payments can reduce the outstanding principal faster. Enter extra EMIs and/or an annual prepayment above to estimate how much earlier the car loan could finish and how much interest could be saved.
Car Loan EMI Formula
This calculator estimates the EMI, principal and interest for a standard amortizing car loan. Processing fees are shown separately in total cost. Taxes, registration, insurance, dealer charges and other vehicle costs are not included. Extra EMI and annual prepayment savings are estimated separately.
How to Use the Car Loan EMI Calculator
Enter the Loan Amount
Enter the amount you expect to finance after any down payment.
Enter the Interest Rate
Enter the annual interest rate offered for the car loan.
Enter the Loan Term
Enter the number of years over which the vehicle loan will be repaid.
Calculate Your Car Loan EMI
The calculator displays the estimated monthly payment, total interest and total repayment.
Example Car Loan EMI Calculation
1,200,000 car price with 200,000 down payment at 9% for 5 years
Given:
- Car Price = 1,200,000
- Down Payment = 200,000
- Loan Amount = 1,000,000
- Annual Interest Rate = 9%
- Loan Term = 5 years
Monthly rate:
9% ÷ 12 = 0.75% per month
Total payments:
5 × 12 = 60 monthly payments
Result: Monthly EMI ≈ 20,758.14
Total Repayment ≈ 1,245,488.40.
Total Interest ≈ 245,488.40.
Understanding Your Car Loan EMI Results
Monthly EMI
The estimated regular payment toward the principal and interest on the vehicle loan.
Total Interest
The estimated interest paid over the full car-loan term.
Total Repayment
The combined principal and interest paid across all scheduled payments.
Important Consideration
The actual cost of buying a vehicle may also include taxes, registration, insurance, maintenance, dealer charges and other expenses.
Key Car Loan EMI Terms
Principal
The amount financed for the vehicle before interest and additional charges.
Interest Rate
The annual rate charged on the outstanding car-loan balance.
Loan Term
The period over which the car loan is scheduled to be repaid.
Down Payment
An upfront amount paid toward the vehicle that reduces the amount financed.
Total Interest
The total interest accumulated across the scheduled repayment period.
Loan-to-Value
A ratio comparing the amount financed with the vehicle's value or purchase price.
Frequently Asked Questions
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