Calculate Your Car Loan EMI
Rs 50L
50%
18%
7 Years
Monthly EMI
Loan Amount
Total Interest
Total Amount Payable
About Car Loan Calculator
A car loan calculator helps you determine the monthly EMI for your vehicle purchase. It considers the car price, down payment, interest rate, and loan tenure to calculate your monthly payments and total cost.
Loan Amount = Car Price – Down Payment
EMI = [Loan Amount x R x (1+R)^N] / [(1+R)^N-1]
Where:
R = Monthly interest rate
N = Total number of monthly installments
Key Features
• Down Payment Planning: See how down payment affects your monthly EMI
• Interest Comparison: Compare EMIs for different interest rates
• Tenure Flexibility: Choose from 1 to 7 years loan tenure
• Total Cost Analysis: Understand the complete financial commitment
🚗 Tips for Car Loan
• Higher Down Payment: Reduces loan amount and saves interest significantly
• Shorter Tenure: Higher EMI but lower total interest cost
• Compare Rates: Check offers from multiple banks and NBFCs
• Pre-approved Loans: Often come with better interest rates
Car Loan Eligibility Factors
• Income: Minimum monthly income of Rs 25,000
• Credit Score: CIBIL score of 700+ for best rates
• Age: 21 to 65 years for salaried, 25 to 70 for self-employed
• Employment: Stable employment history of 2+ years
Types of Car Loans
• New Car Loan: Financing for brand new vehicles
• Used Car Loan: Financing for pre-owned vehicles
• Refinance Loan: Transfer existing car loan to get better rates
• Top-up Loan: Additional loan on existing car loan
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