Car Financing Calculator
Drive your dream car home! Calculate EMI, compare new vs used car financing, and understand all costs in the Indian market.
Pro Tip: In India, car financing includes road tax (12%), registration (1%), insurance (3%), and processing fees - often 15-20% of car price!
Calculate Your Car Loan
Loan Summary
Monthly EMI
$ 440
For 5 years
Total Cost
$ 34.9K
Including all charges
Affordability
7.3%
Within limits
Total Interest
$ 3.9K
Over 5 years
Cost Breakdown
Car Price
$ 30.0K
Road Tax (12%)
$ 3.6K
Registration (1%)
$ 300
Insurance (3%)
$ 900
Processing Fee (0.5%)
$ 113
Total Cost
$ 34.9K
EMI vs Principal vs Interest
Car Financing in India: Key Considerations
New vs Used Car Financing
New Cars: 7-10% interest rates, 80-90% financing, longer tenure
Used Cars: 9-15% interest rates, 70-80% financing, shorter tenure
Depreciation: New cars lose 20-30% value in first year
Warranty: New cars come with manufacturer warranty
Smart Car Buying Tips
30% EMI Rule: Keep EMI within 30% of monthly income
Compare Lenders: Banks vs NBFCs - rates vary significantly
Pre-approval: Get loan pre-approval before car shopping
Down Payment: Higher down payment = lower EMI and interest
Year-by-Year Loan Breakdown
Track your principal and interest payments over the loan tenure
| Year | EMI | Principal | Interest | Remaining Principal | Total Interest Paid |
|---|---|---|---|---|---|
| 1 | $ 5.3K | $ 3.9K | $ 1.3K | $ 18.6K | $ 1.3K |
| 2 | $ 5.3K | $ 4.2K | $ 1.1K | $ 14.4K | $ 2.4K |
| 3 | $ 5.3K | $ 4.5K | $ 802 | $ 9.9K | $ 3.2K |
| 4 | $ 5.3K | $ 4.8K | $ 502 | $ 5.1K | $ 3.7K |
| 5 | $ 5.3K | $ 5.1K | $ 181 | $ 0 | $ 3.9K |