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Car Loan Calculator

Calculate your car loan EMI and total cost

๐Ÿ‡ฎ๐Ÿ‡ณ Indian Rupee (โ‚น)
Car Price
โ‚น
Down Payment
โ‚น
Interest Rate 9.5%
% p.a.
Loan Tenure 5 Yrs
Years
Monthly EMI
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-
Loan Amount
-
Total Interest
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Total Cost

Car Loan Tips

Car loans are typically easier to get than home loans. Interest rates range from 7.5% to 15% depending on the car type (new/used), lender, and your credit profile.

Tip: A higher down payment reduces your loan amount and total interest. Aim for at least 20% down payment to keep EMIs manageable.

New car vs used car loan rates?
New car loans typically have lower interest rates (7.5-9.5%) compared to used car loans (11-15%) as new cars serve as better collateral.
What is the maximum car loan tenure?
Most banks offer car loans for up to 7 years for new cars and 5 years for used cars. Longer tenure means lower EMI but higher total interest.