Car Loan EMI Calculator — Plan Your Vehicle Purchase
Calculate car loan EMI instantly. Compare auto loan rates from SBI HDFC ICICI Bank of Baroda and other lenders for new and used car financing in 2026.
Planning to buy a new car? Whether it is a Maruti Swift or a Hyundai Creta or a Toyota Innova knowing your monthly EMI before visiting the showroom puts you in a stronger negotiating position. Our car loan EMI calculator helps you understand exactly how much you will pay each month based on the car price down payment interest rate and loan tenure so you can choose the car that fits your budget.
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EMI Calculator
Key Information
| Parameter | Details |
|---|---|
| Typical Car Loan Rate | 7.50% - 12.50% |
| Maximum Loan Tenure | 7 years (84 months) |
| Down Payment Required | 10% - 25% of car price |
| Processing Fee Range | Rs 2500 - Rs 10000 |
Calculate your car loan EMI
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Use Calculator NowFrequently Asked Questions
What is the EMI for a 10 lakh car loan?
For a car loan of Rs 10 lakh at 9% interest for 5 years the monthly EMI would be approximately Rs 20758. The total interest paid would be about Rs 2.45 lakh over the full tenure. Opting for a 7 year tenure reduces EMI to Rs 16089 but increases total interest to Rs 3.46 lakh.
Should I take a car loan or pay in cash?
Taking a car loan makes sense when your money invested elsewhere earns more than the loan interest rate. If you can earn 12-15% through mutual funds and the car loan costs 8-9% you are better off with a loan. However if you have idle savings and the opportunity cost is low paying cash saves you the interest amount.
Is it better to have a longer car loan tenure?
A longer tenure reduces monthly EMI making it more affordable but increases the total interest you pay. For a Rs 8 lakh car loan at 9% interest a 3 year tenure costs Rs 1.15 lakh in interest while a 7 year tenure costs Rs 2.77 lakh. Choose the shortest tenure your budget allows.
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Last updated: 24 March 2026