- Loan amount
- Interest
- Monthly EMI
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- Loan amount
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- Total interest
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- Total amount payable
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| Year | Principal paid | Interest paid | Balance |
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Figures are estimates for planning only, not investment or tax advice.
Enter the on-road price and your down payment, and this calculator works out the loan amount, the EMI and what the car actually costs once interest is added.
Why the down payment matters
Cars lose value from the day they are bought, so financing a large share of the price means owing more than the car is worth for the first couple of years. A down payment of at least 20% keeps you on the right side of that line and lowers the rate most lenders offer.
The true cost
A ₹10 lakh car with ₹2 lakh down, financed at 9.5% over 5 years, costs an EMI of ₹16,798 and ₹2.08 lakh in interest — so the car costs ₹12.08 lakh, before insurance, fuel and servicing.
Frequently asked questions
Is a used-car loan more expensive?
Yes, typically 3–5 percentage points higher, with a shorter maximum tenure.
Can I prepay a car loan?
Usually yes, after a lock-in of 6–12 months, often with a 3–5% penalty on the outstanding amount.
Should I take the dealer's finance?
Compare it against your bank. Dealer schemes sometimes bundle in insurance or accessories that inflate the loan.