Car Loan EMI Calculator
Buying a car? This calculator goes beyond just the EMI — it shows the total interest paid, and the net cost of ownership after factoring in car depreciation (~15% in year 1, ~10% per year after). Know the true price of that dream car before signing.
Frequently Asked Questions
What is included in "on-road price"?+
On-road price = Ex-showroom price + Road Tax + RTO registration + Insurance (1st year) + Accessories. Always get the on-road quote from the dealer — it is typically 10–20% higher than ex-showroom. Use this figure for accurate EMI calculation.
How much down payment should I make for a car?+
Minimum 20% is recommended. Higher down payment means lower EMI, less interest, and faster breakeven against depreciation. Banks typically finance 80–90% of on-road price, but funding 100% means you owe more than the car is worth on day two.
Why does depreciation matter?+
A new car loses 15–20% of value in the first year and ~10% every year after. If you sell after 5 years, you might recover only 40–50% of the on-road price. The real cost of owning the car includes this loss — not just interest paid.
Is a shorter tenure better for a car loan?+
Usually yes. Unlike home loans, cars depreciate faster than you build equity through repayment. A 3-year loan means you're out of debt and the car still has decent value. A 7-year loan means you're still paying when the car may need major repairs.