How much down payment do I need for a car loan?

Lenders typically finance 80-90% of the on-road price, so you pay roughly 10-20% as down payment. A bigger down payment means a smaller loan and lower EMI. Enter the loan amount as on-road price minus your down payment.

Are used car loan rates higher than new?

Yes. Used or pre-owned car loans usually carry interest rates a few percent higher than new car loans, and shorter maximum tenures.

Is a car loan EMI fixed?

Car loans are usually offered at a fixed interest rate, so the EMI stays the same for the whole tenure.

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Car Loan EMI Calculator

Q: What tenure can I take a car loan for?

Car loans usually run from 1 to 7 years. A longer tenure lowers your monthly EMI but increases the total interest paid over the loan.

🔒 Calculated in your browser — nothing is uploaded

Find the EMI on a new or used car loan, the total interest you'll pay, and a full month-by-month repayment schedule.

Other EMI calculators: Home · Personal · Bike · Education · Gold · Business · Property · MSME · all loans

Loan type

Loan amount (₹) on-road price − down payment

Interest rate (% per year)

Loan tenure

Loan starts for the schedule dates

Monthly EMI

₹0

Total interest

₹0

Total payment

₹0

Repayment schedule

Yearly summary — tap a year to see the month-by-month breakdown (opening interest, principal and balance).

Period	Principal	Interest	EMI paid	Balance	% paid

EMI covers principal + interest only. Processing fees, GST on fees and insurance (if any) are charged separately by the lender. Estimate — not a loan offer.

Work out your car loan EMI

Car loans usually run 1–7 years at around 9–11% per year, and most lenders fund 80–90% of the car's on-road price — you pay the rest as a down payment. Enter the loan amount (on-road price minus your down payment), the interest rate and the tenure to see your EMI, the total interest, and a full repayment schedule. A bigger down payment or a shorter tenure cuts the interest you pay. Everything runs in your browser.

Now get the documents ready

Knowing the EMI is the easy half. See exactly which papers a lender typically asks for a car loan — then resize, rename and pack them into one file, on your own device.

Open the document checklist →

Who uses this tool

Buyers comparing a bigger down payment against a longer tenure, people weighing a new versus a used car loan (used cars carry higher rates), and anyone budgeting the true monthly cost of a car.

How to use it

Enter the loan amount (on-road price minus your down payment), the interest rate and the tenure.
Optionally set the month the loan starts so the schedule shows real dates.
Click Calculate EMI to see your EMI, total interest, and the year-by-year schedule. Tap any year to expand its months.

Frequently asked questions

What tenure can I take a car loan for?

Usually 1–7 years. A longer tenure lowers the EMI but raises the total interest.

How much down payment do I need?

Typically 10–20% of the on-road price. Enter the loan amount as on-road price minus your down payment.

Are used car loan rates higher?

Yes — pre-owned car loans usually cost a few percent more than new car loans.

Is the EMI fixed?

Car loans are usually fixed-rate, so the EMI stays the same throughout.