Car Loan EMI Calculator
Calculate your car loan EMI and plan your vehicle purchase.
Tip
Shorter tenure means higher EMI but lower total interest paid.
₹ 0
For 5 years at 9.5% interest
Loan Amount
8 L
Total Interest
0
Total Payment
0
Interest vs Principal
Loan Balance
Car Loan EMI Formula
Car loans typically use the reducing balance method for EMI calculation. The monthly payment remains constant, but the interest component decreases over time.
"Consider a shorter tenure if you can afford higher EMIs. You'll save significantly on total interest."
The Formula
P = Principal, r = Monthly interest rate (annual/12), n = Total months.
Last Updated: January 2026
Disclaimer: This calculator provides estimates for educational purposes. Actual EMI may vary based on lender policies, processing fees, and other charges.
About the Car Loan Calculator
Calculates monthly car loan payments, total interest, and amortization schedule for vehicle financing.
Use before buying a car to compare dealer financing, bank loans, and down payment scenarios.
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
A ₹8 lakh car loan at 9% for 5 years results in an EMI of about ₹16,608 and total interest of roughly ₹1.96 lakh.
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