Car Loan EMI Calculator
Calculate your car loan EMI, total interest, and view payment schedule
Car Loan Details
Enter your car and loan details
₹8,00,000
₹1,60,000 (20.0%)
₹6,40,000
9.5%
5 years
Additional Costs
₹5,000
₹30,000
Comprehensive insurance for a ₹8,00,000 car typically costs between₹24,000 to ₹40,000 annually.
Loan Summary
Your car loan payment details
Monthly EMI
₹0
Loan Amount:₹6,40,000
Total Interest:₹0
Processing Fee:₹5,000
Insurance:₹30,000
Total Payment:₹0
Payment Breakdown
Car Loan Information
Important things to know about car loans
Factors Affecting Car Loan EMI
- Loan amount - Higher loan amount leads to higher EMI
- Interest rate - Higher interest rate increases your EMI
- Loan tenure - Longer tenure reduces EMI but increases total interest
- Down payment - Higher down payment reduces loan amount and EMI
- Processing fee - One-time fee charged by banks for loan processing
Tips for Car Loan Applicants
- Maintain a good credit score (750+) for better interest rates
- Compare offers from multiple banks before finalizing
- Aim for a down payment of at least 20% of the car value
- Check for hidden charges like foreclosure fees, documentation charges
- Consider the total cost of ownership including insurance, maintenance
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