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Work out your car loan EMI from the full on-road price, with your down payment, total interest and a monthly schedule.

By Nitin Raturi · Last reviewed

Your worksheet

How to use the Car Loan Calculator

Work out your EMI from the full on-road price, not only the showroom price.

  1. Enter the ex-showroom price and the other costs on the dealer’s quote.
  2. Enter your down payment.
  3. Enter the interest rate and the tenure in months.
  4. Read the EMI and total interest; open the schedule for every month.

Good to know

  • Tap the ⓘ next to any field for a short guide to it.

The loan is the on-road price minus your down payment, repaid in equal EMIs on a reducing balance.

Ex-showroom price

The car’s listed price at the dealer, before registration and insurance.

How to fill it in

  • Type 8 lakh, 800000 or 8,00,000. Allowed range: ₹50,000 to ₹100 crore.

Registration, insurance and other costs

Everything added to reach the on-road price: road tax and registration, first-year insurance and any accessories.

How to fill it in

  • Add the figures from the dealer’s on-road quote. Enter ₹0 to use the ex-showroom price.

Example

₹8,00,000.00 plus ₹1,20,000.00 gives an on-road price of ₹9,20,000.00.

Tip: Road tax differs by state, so use the quote from your own city.

Down payment

What you pay upfront from your own money. The rest is the loan.

How to fill it in

  • Enter ₹0 or more, but less than the on-road price.

Example

With ₹2,00,000.00 down you borrow ₹7.2 lakh.

Interest rate

The yearly rate in the lender’s offer, charged on the loan still outstanding.

How to fill it in

  • Enter 0% to 30% a year.

Keep in mind: Check whether the offer quotes a flat rate. A flat rate costs more than the same reducing rate.

Loan tenure

The number of monthly EMIs.

How to fill it in

  • Enter 12 to 96 months.

Example

Over 60 months the default EMI is ₹14,946.02.

Estimated car loan EMI

₹14,946.02

On an on-road price of ₹9.2 lakh with ₹2 lakh down, you borrow ₹7.2 lakh and pay ₹14,946.02 a month for 60 months.

On-road price
₹9,20,000.00
Loan amount
₹7,20,000.00
Total interest
₹1,76,760.95
Total cost with down payment
₹10,96,760.95

Some lenders lend only on the ex-showroom price, so you may need to pay registration and insurance yourself. Check what your lender finances.

Fixed 9% a year on a reducing balance, EMIs at the end of each month. Excludes processing fees, insurance renewals and running costs.

Full schedule and CSV

Display rounds only for reading. CSV preserves full precision.

Monthly repayment schedule
MonthOpening (INR)EMI (INR)Interest (INR)Principal (INR)Closing (INR)
1₹7,20,000.00₹14,946.02₹5,400.00₹9,546.02₹7,10,453.98
2₹7,10,453.98₹14,946.02₹5,328.40₹9,617.61₹7,00,836.37
3₹7,00,836.37₹14,946.02₹5,256.27₹9,689.74₹6,91,146.63
4₹6,91,146.63₹14,946.02₹5,183.60₹9,762.42₹6,81,384.21
5₹6,81,384.21₹14,946.02₹5,110.38₹9,835.63₹6,71,548.58
6₹6,71,548.58₹14,946.02₹5,036.61₹9,909.40₹6,61,639.18
7₹6,61,639.18₹14,946.02₹4,962.29₹9,983.72₹6,51,655.46
8₹6,51,655.46₹14,946.02₹4,887.42₹10,058.60₹6,41,596.86
9₹6,41,596.86₹14,946.02₹4,811.98₹10,134.04₹6,31,462.82
10₹6,31,462.82₹14,946.02₹4,735.97₹10,210.04₹6,21,252.77
11₹6,21,252.77₹14,946.02₹4,659.40₹10,286.62₹6,10,966.15
12₹6,10,966.15₹14,946.02₹4,582.25₹10,363.77₹6,00,602.38
13₹6,00,602.38₹14,946.02₹4,504.52₹10,441.50₹5,90,160.89
14₹5,90,160.89₹14,946.02₹4,426.21₹10,519.81₹5,79,641.08
15₹5,79,641.08₹14,946.02₹4,347.31₹10,598.71₹5,69,042.37
16₹5,69,042.37₹14,946.02₹4,267.82₹10,678.20₹5,58,364.17
17₹5,58,364.17₹14,946.02₹4,187.73₹10,758.28₹5,47,605.89
18₹5,47,605.89₹14,946.02₹4,107.04₹10,838.97₹5,36,766.91
19₹5,36,766.91₹14,946.02₹4,025.75₹10,920.26₹5,25,846.65
20₹5,25,846.65₹14,946.02₹3,943.85₹11,002.17₹5,14,844.48
21₹5,14,844.48₹14,946.02₹3,861.33₹11,084.68₹5,03,759.80
22₹5,03,759.80₹14,946.02₹3,778.20₹11,167.82₹4,92,591.99
23₹4,92,591.99₹14,946.02₹3,694.44₹11,251.58₹4,81,340.41
24₹4,81,340.41₹14,946.02₹3,610.05₹11,335.96₹4,70,004.45
25₹4,70,004.45₹14,946.02₹3,525.03₹11,420.98₹4,58,583.46
26₹4,58,583.46₹14,946.02₹3,439.38₹11,506.64₹4,47,076.82
27₹4,47,076.82₹14,946.02₹3,353.08₹11,592.94₹4,35,483.89
28₹4,35,483.89₹14,946.02₹3,266.13₹11,679.89₹4,23,804.00
29₹4,23,804.00₹14,946.02₹3,178.53₹11,767.49₹4,12,036.51
30₹4,12,036.51₹14,946.02₹3,090.27₹11,855.74₹4,00,180.77
31₹4,00,180.77₹14,946.02₹3,001.36₹11,944.66₹3,88,236.11
32₹3,88,236.11₹14,946.02₹2,911.77₹12,034.24₹3,76,201.87
33₹3,76,201.87₹14,946.02₹2,821.51₹12,124.50₹3,64,077.36
34₹3,64,077.36₹14,946.02₹2,730.58₹12,215.44₹3,51,861.93
35₹3,51,861.93₹14,946.02₹2,638.96₹12,307.05₹3,39,554.88
36₹3,39,554.88₹14,946.02₹2,546.66₹12,399.35₹3,27,155.52
37₹3,27,155.52₹14,946.02₹2,453.67₹12,492.35₹3,14,663.17
38₹3,14,663.17₹14,946.02₹2,359.97₹12,586.04₹3,02,077.13
39₹3,02,077.13₹14,946.02₹2,265.58₹12,680.44₹2,89,396.69
40₹2,89,396.69₹14,946.02₹2,170.48₹12,775.54₹2,76,621.15
41₹2,76,621.15₹14,946.02₹2,074.66₹12,871.36₹2,63,749.80
42₹2,63,749.80₹14,946.02₹1,978.12₹12,967.89₹2,50,781.90
43₹2,50,781.90₹14,946.02₹1,880.86₹13,065.15₹2,37,716.75
44₹2,37,716.75₹14,946.02₹1,782.88₹13,163.14₹2,24,553.61
45₹2,24,553.61₹14,946.02₹1,684.15₹13,261.86₹2,11,291.75
46₹2,11,291.75₹14,946.02₹1,584.69₹13,361.33₹1,97,930.42
47₹1,97,930.42₹14,946.02₹1,484.48₹13,461.54₹1,84,468.88
48₹1,84,468.88₹14,946.02₹1,383.52₹13,562.50₹1,70,906.39
49₹1,70,906.39₹14,946.02₹1,281.80₹13,664.22₹1,57,242.17
50₹1,57,242.17₹14,946.02₹1,179.32₹13,766.70₹1,43,475.47
51₹1,43,475.47₹14,946.02₹1,076.07₹13,869.95₹1,29,605.52
52₹1,29,605.52₹14,946.02₹972.04₹13,973.97₹1,15,631.54
53₹1,15,631.54₹14,946.02₹867.24₹14,078.78₹1,01,552.76
54₹1,01,552.76₹14,946.02₹761.65₹14,184.37₹87,368.39
55₹87,368.39₹14,946.02₹655.26₹14,290.75₹73,077.64
56₹73,077.64₹14,946.02₹548.08₹14,397.93₹58,679.71
57₹58,679.71₹14,946.02₹440.10₹14,505.92₹44,173.79
58₹44,173.79₹14,946.02₹331.30₹14,614.71₹29,559.08
59₹29,559.08₹14,946.02₹221.69₹14,724.32₹14,834.76
60₹14,834.76₹14,946.02₹111.26₹14,834.76₹0.00

ChangelogHow we test this calculatorEmbed this calculator

How this calculator works

  1. Step 1Add up the on-road price₹9,20,000.00Ex-showroom price plus registration, insurance and extras.
  2. Step 2Subtract the down payment₹7.2 lakhYou pay ₹2,00,000.00 upfront and borrow the rest.
  3. Step 3Spread it into EMIs₹14,946.0260 months at 9% a year.

The price on the showroom tag is not what you pay. Road tax, registration and the first year’s insurance can add a large amount.

Worked example

An ₹8,00,000.00 car with ₹2,00,000.00 down costs ₹14,946.02 a month for 60 months.

The default car loan
EMI
L × k ÷ (1 − (1 + k)^−n)
  • Lloan: on-road price minus down payment ₹7,20,000.00
  • kmonthly rate, yearly rate ÷ 12 0.75%
  • nnumber of EMIs 60
  1. On-road price₹9,20,000.00
  2. Loan amount₹7,20,000.00
  3. Total interest₹1,76,760.95
  4. Total cost with down payment₹10,96,760.95
  5. Monthly EMI₹14,946.02

Reading the result

A longer tenure lowers the EMI but raises the interest you pay.

  • 36 months₹1.04 lakh
  • 60 months₹1.77 lakh
  • 84 months₹2.53 lakh
Total interest on the default loan at three tenures

The EMI is ₹22,895.81 over 36 months, ₹14,946.02 over 60 months, ₹11,584.14 over 84 months.

  • Using the on-road price₹14,946.02Includes registration, insurance and extras in the loan.
  • Using only the ex-showroom price₹12,455.01Lower EMI, but you pay the extras in cash.

A car loan is one way to pay. Dealer offers, leases and running costs change the total.

If the dealer offers cash back or a low rate, use the cash back or low interest calculator. The auto lease calculator prices a lease, and the fuel cost calculator estimates running costs.

Common mistakes

  • Mistake: Planning with the ex-showroom price.

    Instead: Use the full on-road quote for your city.

  • Mistake: Comparing a flat-rate offer with a reducing-rate offer directly.

    Instead: Convert the flat rate first; it usually costs more.

  • Mistake: Choosing the longest tenure for the lowest EMI.

    Instead: Check the total interest at each tenure.

This calculator shows arithmetic on your inputs. It does not recommend any lender or car.

Read how we test our calculators, or browse more money calculators.

Frequently asked questions

What is the on-road price?

It is the ex-showroom price plus road tax and registration, the first year’s insurance and any accessories. It is what you actually pay to drive the car away.

How is the car loan EMI calculated?

The loan is the on-road price minus your down payment. The EMI is the fixed monthly payment that repays it with interest on the reducing balance over the tenure.

Do lenders finance the full on-road price?

It depends on the lender. Some lend only on the ex-showroom price. Check what your lender includes before you plan the down payment.

What if the offer quotes a flat interest rate?

A flat rate charges interest on the original loan for the whole tenure, so it costs more than the same reducing rate. Convert it before comparing.

Does the total cost include insurance renewals and fuel?

No. It includes only the down payment and the EMIs.

Sources and methodology

The formulas are standard time-value-of-money results. We check every figure against golden values worked out independently, by closed form and by month-by-month simulation; see the methodology.

Written and maintained by Nitin Raturi, a software engineer (about the author). Last reviewed 27 Oct 2026; next review due by . Found an error? Tell us.

Changelog

  • : Initial release. Demand metrics remain unverified.

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