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Car Loan Calculator

Calculate your car loan EMI, total interest, and payment in Indian Rupees (₹) to plan your dream car purchase.

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Calculate Your Car Loan

How Our Car Loan Calculator Works

Our Car Loan Calculator simplifies planning your car purchase by calculating your monthly EMI, total interest, and total payment in Indian Rupees (). It uses a standard EMI formula and provides a pie chart to visualize the loan breakdown, making it easy to understand your financial commitment.

Calculation Logic

The calculator uses the formula EMI = [P R × (1+R)^N] / [(1+R)^N - 1], where P is the loan amount (e.g., 5,00,000), R is the monthly interest rate (annual rate ÷ 12 100, e.g., 8.5% ÷ 12 ÷ 100), and N is the number of months (tenure × 12, e.g., 5 × 12). Total interest is (EMI × N) - P, and total payment is EMI × N. The pie chart shows the principal vs. interest share, with INR formatting (e.g., ₹12,34,567).

Steps to Use

Enter the loan amount (e.g., ₹5,00,000).
Input the annual interest rate (e.g., 8.5%).
Specify the loan tenure in years (e.g., 5 years).
Click "Calculate" to view EMI, interest, total payment, and pie chart.
Use "Reset" to clear the form and start over.

Why Use Our Car Loan Calculator?

Buying a car is a significant milestone for many Indians, but financing it requires careful planning. Our Car Loan Calculator, designed for Indian users, helps you calculate your monthly EMI, total interest, and overall payment in Indian Rupees (₹). Whether you’re eyeing a compact hatchback or a premium SUV, this tool ensures you make informed financial decisions without stress. Here’s why it’s a must-have for every car buyer in India.

Plan Your Car Purchase

A car loan can be a big commitment, and knowing your monthly EMI helps you budget effectively. Our calculator lets you input loan amounts, interest rates, and tenures to see how they impact your finances, ensuring you choose a loan that fits your income.

Budget for EMI: Calculate if a ₹10,000 EMI for a ₹5,00,000 loan fits your ₹50,000 monthly income.
Avoid Overborrowing: Test different loan amounts (e.g., ₹7,00,000 vs. ₹10,00,000) to stay within your means.
Plan Down Payments: Adjust the loan amount based on your savings (e.g., ₹2,00,000 down payment reduces the loan).

Rohan, a Bengaluru-based IT professional, used our calculator to plan a ₹6,00,000 loan for a sedan. By choosing a 5-year tenure, he ensured the ₹12,000 EMI was affordable, saving him from financial strain.

Understand Loan Costs

Car loans come with interest costs that can significantly increase the total amount you pay. Our calculator breaks down the total interest and payment, helping you compare loan offers and choose the most cost-effective option.

Compare Rates: See how a 7% vs. 9% interest rate affects your ₹2,00,000 total interest on a ₹10,00,000 loan.
Visualize Costs: The pie chart shows principal (e.g., ₹5,00,000) vs. interest (e.g., ₹1,50,000) for clarity.
Estimate Total Payment: Know the full cost (e.g., ₹7,50,000 for a ₹5,00,000 loan over 5 years).

Anjali, a Delhi-based teacher, compared two banks’ offers using our calculator. By choosing a 7.5% rate over 9%, she saved ₹50,000 in interest on her ₹8,00,000 loan!

Make Informed Decisions

Choosing the right loan tenure and lender is crucial. Our calculator lets you experiment with different tenures and rates to find the best fit, empowering you to negotiate better terms with banks.

Test Tenures: See how a 3-year vs. 7-year tenure changes EMI (e.g., ₹20,000 vs. ₹12,000 for ₹7,00,000).
Evaluate Offers: Input rates from banks like SBI or HDFC to find the lowest EMI.
Plan Repayments: Ensure EMIs don’t exceed 30-40% of your income (e.g., ₹15,000 for ₹50,000 income).

The calculators instant results and chart helped Rohan decide on a 4-year tenure, balancing EMI affordability with lower total interest.

Tailored for Indian Buyers

Our calculator is designed for India’s car market, reflecting typical loan rates (7-12%), car prices (₹5,00,000-₹20,00,000), and buyer needs. Its free, user-friendly, and requires no sign-up, making it accessible to everyone.

Local Rates: Use realistic rates like 8% for SBI or 9% for private banks.
Car Price Range: Calculate loans for cars like Maruti Swift (₹6,00,000) or Hyundai Creta (₹15,00,000).
Financial Planning: Align EMIs with Indian salaries (e.g., ₹10,000 EMI for ₹40,000 income).

From first-time buyers in metros to families in Tier-2 cities, our Car Loan Calculator helps you drive your dream car home. Start using it above to plan your purchase today!