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Car Loan Calculator
Estimate EMI and interest for your new or used car loan.
Enter values to see your result
Frequently asked questions
How much down payment should I make on a car?
A 20% down payment is typical. Higher down payment reduces EMI, total interest, and the risk of owing more than the car is worth (negative equity) if you sell early.
What are typical car loan rates in India?
New car loans range from 8.5%–12% p.a. Used car loans are higher, usually 11%–16% p.a. Credit score and lender affect the exact rate.
Should I take a longer tenure?
Longer tenure means lower EMI but significantly more interest. A 5-year loan is a common balance; 7 years is the usual maximum.
Can I prepay a car loan?
Yes. Most banks allow prepayment after 6 months. Foreclosure charges vary from 0% (for some banks) to 5% of outstanding principal.