How to use this calculator
- Enter the ex-showroom price, RTO, insurance and other charges from the dealer’s quote.
- Enter your down payment.
- Enter the bank’s interest rate and choose the tenure.
Frequently asked questions
What is the on-road price of a car?
Ex-showroom price + RTO registration and road tax + insurance + accessories and other charges. In the example: ₹10 lakh + ₹1 lakh + ₹45,000 + ₹15,000 = ₹11.6 lakh.
What is the EMI on a car loan?
With ₹2 lakh down, the loan is ₹9.6 lakh. At 9% for 5 years the EMI is ₹19,928, and you pay ₹2.36 lakh of interest.
Should I take a 7-year car loan?
The EMI is lower — ₹15,446 — but the interest rises to ₹3.37 lakh, and the car loses value faster than you repay the loan.
How much does a bigger down payment help?
Paying ₹1 lakh more down cuts the EMI to ₹17,852 and saves ₹24,550 of interest.