Car Loan EMI Calculator
Calculate car loan EMI and see the true total cost of ownership — including depreciation and insurance.
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How this calculator works
Car loans in India typically carry 8–12% interest. But the real cost of a car includes insurance (5–8% of IDV annually), maintenance, fuel, and depreciation (~15% in year 1, ~10% subsequent years). A ₹10L car loan often costs ₹4–5L in interest alone over 5 years.
EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ − 1] | Total Cost = EMI × n + Insurance + Maintenance
Last updated: March 2026 · Rates and slabs updated for FY 2025-26
Cars depreciate fast
A new car loses 15–20% of value in the first year. Consider a 1–2 year old certified used car to avoid this hit.
Down payment matters
A 20–30% down payment significantly reduces interest paid. Never put 0% down if you can avoid it.
Loan vs cash buy
If your investment returns exceed the loan rate, a loan can make sense. Otherwise, pay cash if you have it.
Frequently Asked Questions
A new car loses 15–20% of value in the first year. Consider a 1–2 year old certified used car to avoid this hit.
A 20–30% down payment significantly reduces interest paid. Never put 0% down if you can avoid it.
If your investment returns exceed the loan rate, a loan can make sense. Otherwise, pay cash if you have it.