Auto Loan Calculator
Calculate the EMI for your new car loan.
Loan Details
Payment Breakdown
Monthly EMI
₹0
Principal Amount
₹0
Total Interest
₹0
Total Payment
₹0
Planning Your Car Loan
An auto loan is a secured loan where the vehicle itself serves as collateral. This calculator helps you determine the monthly EMI, which is crucial for budgeting your car purchase. Knowing your EMI beforehand allows you to understand how much car you can realistically afford.
Tips for a Better Car Loan Deal
- Make a Larger Down Payment: Paying more upfront reduces your loan amount, which in turn lowers your EMI and the total interest you pay.
- Check Your Credit Score: A higher credit score signals to lenders that you are a reliable borrower, often resulting in a lower interest rate offer.
- Consider the Loan Tenure Carefully: A shorter tenure (e.g., 3-5 years) means higher EMIs but less total interest. A longer tenure (e.g., 7 years) offers lower EMIs but you'll pay more in interest over the life of the loan.