Car Loan EMI Calculator
Calculate car loan EMI with down payment, processing fee. See total cost of ownership.
Car Loan Details
20% of car price. Min recommended: 20%
Banks: 8-10% | Dealer finance: 10-14% | Used car: 12-16%
Monthly EMI
₹16,607
Loan Amount
₹8.00 L
Total Interest
₹1.96 L
Total Cost of Car (with loan)
₹11.96 L
You pay 20% extra over cash price
Cost Breakdown — Where Your Money Goes
Green = Down Payment | Blue = Loan Principal | Red = Interest to bank
Car Loan Tips
- 20% down payment minimum: Lower EMI + less total interest + no negative equity
- Avoid dealer finance: Bank/online loans are 2-3% cheaper. Dealers earn commission on finance.
- 5 years max tenure: Car depreciates. At 7 years, you owe more than car's worth.
- Check flat vs reducing: Dealers quote flat rate (7-8%) which is actually 13-15% reducing.
- Negotiate processing fee: Should be max ₹3,000-5,000 for car loans.
- EMI should be < 15% of income: Don't stretch beyond this for a depreciating asset.