Car Loan EMI Calculator
Work out your monthly car loan EMI and total interest cost before you buy.
EMI
₹16,801
Total interest
₹2,08,089
Total payment
₹10,08,089
Over the full tenure, you'll pay ₹2,08,089 in interest alone — that's 21% of your total repayment on a ₹8,00,000 car loan.
Year-wise amortization schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,31,234 | ₹70,383 | ₹6,68,766 |
| 2 | ₹1,44,259 | ₹57,359 | ₹5,24,506 |
| 3 | ₹1,58,576 | ₹43,041 | ₹3,65,930 |
| 4 | ₹1,74,315 | ₹27,303 | ₹1,91,615 |
| 5 | ₹1,91,615 | ₹10,003 | ₹0 |
How this calculator works
A car loan EMI works exactly like any other reducing-balance loan: a fixed monthly payment that combines principal and interest, calculated using EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1). What makes car loans distinct is the shorter typical tenure and the fact that the asset securing the loan loses value quickly.
Worked example:an ₹8,00,000 car loan at 9.5% over 5 years works out to an EMI of roughly ₹16,800 per month, with total interest of about ₹2.1 lakh over the loan's life. Because cars depreciate fast, keeping the tenure short — even if it means a higher EMI — usually saves money and avoids being “underwater” on the loan.