Car Loan Calculator

Worked Example: $30,000 car loan at 7% for 5 years

A larger down payment lowers EMI and total interest. Compare dealer financing vs bank rates before signing.

Enter vehicle price, down payment, interest rate, and loan tenure to calculate monthly EMI and total cost of financing.

What down payment is required for a car loan?

Most lenders require 10-20% down payment for new cars and higher for used vehicles.

What is typical car loan tenure?

Car loans are usually offered for 1 to 7 years.

Disclaimer

This calculator gives you an estimate only. It is not a promise of exact results.
This is general information, not personal financial, tax, or legal advice.
You are responsible for your own decisions. Talk to a qualified professional when it matters.
Banks and lenders may add fees, insurance, or a different interest method. Your real EMI can differ.

Period	Span	Total EMI	Principal	Interest	Balance
2026	7 payments	$92,997	$60,751	$32,247	$579,249
2027	12 payments	$159,424	$111,830	$47,594	$467,419
2028	12 payments	$159,424	$122,320	$37,104	$345,099
2029	12 payments	$159,424	$133,795	$25,629	$211,304
2030	12 payments	$159,424	$146,346	$13,078	$64,958
2031	5 payments	$66,427	$64,958	$1,469	$0

A larger down payment lowers EMI and total interest. Compare dealer financing vs bank rates before signing.

Enter vehicle price, down payment, interest rate, and loan tenure to calculate monthly EMI and total cost of financing.

What down payment is required for a car loan?

Most lenders require 10-20% down payment for new cars and higher for used vehicles.

What is typical car loan tenure?

Car loans are usually offered for 1 to 7 years.

Disclaimer

This calculator gives you an estimate only. It is not a promise of exact results.
This is general information, not personal financial, tax, or legal advice.
You are responsible for your own decisions. Talk to a qualified professional when it matters.
Banks and lenders may add fees, insurance, or a different interest method. Your real EMI can differ.