Car Loan EMI Calculator India — Vehicle Loan Monthly Payment 2026

Last updated: 29 April 2026 Reviewed by Arjun Mehta, CA

**Car loan EMIs** in India typically range from ₹1,500 to ₹3,000 per lakh borrowed at current market rates of 9–13% p.a. for 1–7 year tenures. New car loans are cheaper than used car loans. Most banks offer up to 90% of the on-road price for new cars and 80% for used vehicles. Use this calculator to find your exact monthly outflow.

Car Loan Amount (₹) Total car loan amount

Interest Rate (% p.a.) Annual interest rate

Loan Tenure (Months) Repayment period in months

Monthly EMI —

Total Interest Payable —

Total Payment —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹20 lakh car loan at 8.5% for 20 years

A ₹20 lakh car loan at 8.5% p.a. over 20 years results in an EMI of approximately ₹17,357. Total interest paid over the term is ₹21.66 lakh — making total cost ₹41.66 lakh.

₹50 lakh car loan at 9% for 15 years

Borrowing ₹50 lakh at 9% for 15 years gives an EMI of ₹50,713. Total interest is ₹41.28 lakh. Reducing tenure to 10 years cuts total interest to ₹26.03 lakh, saving ₹15.25 lakh.

Frequently Asked Questions

How accurate is the Car Loan EMI Calculator?

The Car Loan EMI Calculator uses standard financial formulas. Results are indicative; actual figures depend on your lender or financial institution's policies.

Is the Car Loan EMI Calculator free to use?

Yes, the Car Loan EMI Calculator on CalcPhi is completely free with no registration required.

Are my data inputs stored?

No. All calculations happen in your browser. We do not store any of your financial data.

How often are the Car Loan EMI Calculator rates updated?

Rates in examples are updated periodically to reflect current market conditions. Always verify with your bank or advisor.

Can I use the Car Loan EMI Calculator on mobile?

Yes. CalcPhi is fully mobile-optimised. The calculator works on all modern smartphones and tablets.

Who should use this calculator?

Anyone in India planning their finances can benefit from the Car Loan EMI Calculator. It's designed for both beginners and experienced investors.