Car Loan EMI Calculator 2026 — Free Auto Loan Calculator
Calculate car loan EMI instantly. New car loan rates from 8.80% p.a. Used car loan from 10% p.a.
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Car Loan Quick Guide
- New car: Finance up to 90% of on-road price
- Used car: Finance up to 80% of valuation
- Rates: 8.80%–14% for new, 10%–18% for used
- Down payment: 10–20% of ex-showroom price
On-Road vs Ex-Showroom
Banks finance the on-road price which includes ex-showroom price + registration + insurance. Calculate EMI on total on-road cost.
Frequently Asked Questions
On ₹40,000/month, banks will approve ₹6–8 lakh car loan (assuming no existing EMIs). EMI should not exceed 40–50% of net salary.
Banks finance 80–90% of on-road price. For a ₹8 lakh on-road car, you need ₹80,000–1,60,000 as down payment.
Difficult. SBI and HDFC prefer 700+. Some NBFCs may approve at higher interest rates. Improving score to 720+ is recommended.
Aadhaar + PAN, income proof, bank statements (3–6 months), car quotation/proforma invoice from dealer.
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⚠️ Disclaimer
All calculations are indicative and for informational purposes only. Actual EMI may vary based on your bank's terms, processing fees, and applicable taxes. Please contact your bank for exact figures before taking a loan.
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