How it works
Enter the on-road price and planned down payment. The calculator computes your monthly EMI using the reducing-balance formula, total interest, upfront cash needed, and affordability relative to your take-home income. For a side-by-side loan comparison, use the EMI calculator.
Frequently asked questions
How much down payment do I need?
Most banks finance 85–90% of on-road price for new cars (10–15% down). Used cars typically need 15–25% down. A larger down payment reduces both EMI and total interest.
What EMI-to-income ratio do lenders accept?
Car loan EMIs are typically capped at 15–20% of net monthly salary. If your ratio exceeds 20%, consider a longer tenure or larger down payment.
Should I take dealer finance?
Dealer tie-ups are convenient but rates are often 0.5–1.5% higher than bank loans. Compare the effective rate including processing fees before signing.